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Ajuba Completes SOC Type I Examination
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Thursday, July 12, 2012:
Ajuba International LLC and its wholly owned subsidiary-Ajuba Solutions (India) Pvt Ltd premier provider of revenue cycle management services to healthcare institutions in the US, has announced the successful completion of the Service Organization Controls (SOC) Report, Level 1. The independent SOC 1 Report was conducted by Plante & Moran, PLLC a public accounting and consulting firm who evaluated and tested the company’s internal operational controls and processes.
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Completing a comprehensive SOC 1 Report requires substantial financial and time investment, but Ajuba considered the review a mandatory aspect of its continuing commitment to process improvement. “Our dedication to enhancing security methods and internal controls has allowed us to consistently offer our clients an unprecedented level of quality and service,” said Tony Mira, Group CEO and founder. He added that the “The SOC 1 Report signifies that Ajuba considers business processes and the security of our clients’ data top priorities, as well as reaffirms our position as an industry leader.”
The SOC 1 report is an enhancement to the prior standard for reporting on controls at a Service Organization, the SAS70. The SOC 1 type audit and examination under the new SSAE 16 was successfully completed by Ajuba within a short span of it becoming effective. The SSAE 16 was drafted by AICPA (American Institute of Certified Public Accountants) with the intention and purpose of updating the US service organization reporting standard so that it mirrors and complies with the new international service organization reporting standard.
The SOC 1 report is generally an accepted auditing standard utilized by service organizations to demonstrate their internal controls and security practices to their clients. Service organizations receive significant value from having a SSAE 16 examination performed. A Service Auditor's report also helps a service organization build trust with its user organizations (i.e., customers) by providing third-party verification of its significant control practices and operational procedures. Ajuba selected Plante Moran to conduct the SOC examination due to the firm’s credibility and 85 years of experience combined with rigorous standards of excellence.
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