TargetCW has announced the successful completion of its first Service Organization Control (SOC) 1 Type II audit. TargetCW is a dynamic business with a team of experienced HR professionals offering payrolling, staffing, VMS, pre-screening, international services, and overall HR related solutions for temporary workers and contractors. Their dedication to excellence and focus on client needs enables clients effectively achieve their workforce goals. TargetCW's competitive rates encompass a full range of solutions and forward thinking ideas for better contingent workforce management. The expertise and flexibility TargetCW delivers to their clients consistently provides valuable time and money savings while allowing clients to more effectively leverage their internal talent and resources.
"TargetCW's focus on strong internal controls over financial reporting is evident in this report," says Jim Jimenez, Managing Partner at SSAE 16 Professionals, LLP. "The successful completion of this audit is a testament to TargetCW's integrity, accountability, and its commitment to its clients."
The audit undergone by TargetCW was conducted in accordance with the AICPA SOC reporting standards. The audit was conducted by SSAE 16 Professionals, LLP, a full service accounting firm providing SSAE 16 (SOC 1) audits. SSAE 16 Professionals, LLP evaluated TargetCW's design and operating effectiveness of internal controls and processes related to internal controls over financial reporting.
About SSAE 16 (SOC 1) Reports
SSAE 16 reports, also known as SSAE 16 reports, also known as Service Organization Control (SOC) 1 reports, which have effectively replaced SAS 70 reports and are in accordance with Statement on Standards for Attestation Engagements (SSAE) No. 16, Reporting on Controls at a Service Organization. SOC 1 reports retain the original purpose of SAS 70 by providing a means of reporting on the system of internal control for purposes of complying with internal control over financial reporting. SOC 1 reports are restricted use reports for the following areas:
- Management of the service organization (the company who has the SOC 1 performed)
- User entities of the service organization (service organization's clients), and
- The user entities' financial auditors (user auditor). The report can assist the user entities' financial auditors with laws and regulations such as the Sarbanes-Oxley Act. A SOC 1 enables the user auditor to perform risk assessment procedures, and if a Type II report is performed, to assess the risk of material misstatement of financial statement assertions affected by the service organization's processing
TargetCW provides nationwide and international contingent workforce services to companies who have workforce needs ranging from a handful of workers to a few hundred workers. As the employer of record, TargetCW assumes liability for its clients' contingent workforce while managing workers compensation, unemployment claims, insurance coverage, health benefits, online time-keeping, all tax withholdings and reporting, entirely supported by dedicated professionals delivering "Old Fashioned Customer Service".
Working together, TargetCW will customize a process to integrate with its clients' current workforce solution while providing best practices from their more than 15 years of HR expertise. TargetCW can create simple and unique solutions to save their clients time, money, and reduce exposure to contingent workforce liabilities. All workers payrolled through TargetCW are eligible for a robust suite of benefits, including health, dental and vision insurance, sick/vacation/holiday pay, 401k, commuter check program, 125 flexible spending account, 529 savings, group discounts, and corporate discounts. For more information, please visit http://www.TargetCW.com.
About SSAE 16 Professionals, LLP
SSAE 16 Professionals, LLP is one of the nation's leading firms specializing solely in SSAE 16 (SOC 1) audits and readiness assessments. Each of our professionals has over 10 years of relevant experience at "Big 4" and other large international or regional accounting firms. Each professional is certified as a CPA (Certified Public Accountant), CISA (Certified Information Systems Auditor), CIA (Certified Internal Auditor), CISSP (Certified Information Systems Security Professional), and/or MBA (Master of Business Administration). For more information, please visit http://www.SSAE16Professionals.com.
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