SOC Tip #1

A thorough and comprehensive SOC report should contain a mix of sampling, re-performance, inquiry and observation testing procedures. A SOC report containing only observation and inquiry testing procedures will likely overlook control deficiencies and may not satisfy client auditors.
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FASB Issues Private Company VIE Alternative

The Financial Accounting Standards Board (FASB) issued guidance intended to improve private company financial reporting regarding consolidation of lessors in certain common control leasing arrangements. FASB Accounting Standards Update No. 2014-07, Applying Variable Interest Entities Guidance to Common Control Leasing Arrangements, is based on a consensus reached by the Private Company Council (PCC).
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Benefits of Cloud Services

Managing Director of Cloud Solutions, Jeremy King, summarizes some of the reasons cloud services have become so popular for business.
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