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iLeasePro Lease Management & ASC 842 Lease Accounting Solution
iLease Management LLC attains SOC 1 Type 2 certification, reinforcing its commitment to secure, reliable lease accounting with its iLeasePro ASC 842 software.
We're thrilled to earn the SOC 1 Type 2 certification, reflecting our commitment to top security and reliability standards and meeting the evolving needs of our clients and the industry.” - John Meedzan, Managing Partner of iLease Management LLCBEVERLY, MA, UNITED STATES, October 1, 2024 /EINPresswire / -- iLease Management LLC, a leading provider of lease management solutions for lessees, proudly announces that it has achieved the SOC 1 Type 2 certification for its operations and its flagship ASC 842 lease accounting software, iLeasePro . This significant achievement highlights iLease Management's dedication to the highest security, reliability, and operational excellence standards.
What the SOC 1 Type 2 Certification Means
The SOC 1 Type 2 certification is a rigorous, independent evaluation of an organization's internal controls related to financial reporting. Conducted by a third-party auditing firm, the certification ensures that a company's processes meet stringent requirements for safeguarding the integrity and security of financial data.
By earning this certification, iLease Management assures its clients that its internal controls over financial reporting have been rigorously tested and meet the highest industry standards. This certification further cements the company's status as a trusted provider of secure and reliable lease management solutions.
A Milestone for iLease Management LLC
“We are thrilled to have earned the SOC 1 Type 2 certification,” said John Meedzan, Managing Partner of iLease Management LLC.“This reflects our team's dedication to maintaining the highest standards of security and reliability for our clients. The certification underscores our commitment to excellence and demonstrates our ability to meet the needs of our clients and the broader industry.”
For iLease Management, this certification is not just a badge of honor but a commitment to continuous improvement. The SOC 1 Type 2 audit requires annual reviews, ensuring that iLease Management's internal controls continue to meet evolving industry standards over time.
Supporting ASC 842 Compliance with iLeasePro
The introduction of the FASB ASC 842 Lease Accounting Standard added complexity to lease accounting, requiring businesses to meet more stringent reporting and disclosure requirements. iLeasePro was designed specifically to simplify and automate the process of ASC 842 compliance, helping small to mid-sized companies manage their lease portfolios more efficiently while staying compliant with accounting standards.
With the added assurance of the SOC 1 Type 2 certification, iLeasePro provides businesses with even greater confidence that their financial data is being managed securely. Clients can rely on iLeasePro to streamline their lease accounting processes while ensuring the integrity of their financial reporting.
Innovating for the Future
As a leader in the lease management industry, iLease Management LLC continues to innovate and adapt to meet the changing needs of its clients. The SOC 1 Type 2 certification marks an important milestone in the company's journey but is just one aspect of its broader mission to deliver exceptional service and value to its customers.
iLease Management's focus on innovation, security, and operational excellence ensures that its clients benefit from cutting-edge solutions that simplify lease management while maintaining compliance with industry standards. The company's ongoing dedication to improving its products and services allows businesses to focus on growth while relying on a trusted partner to handle their lease accounting needs.
About iLease Management LLC
iLease Management LLC is a leader in providing comprehensive lease accounting and management solutions for small to mid-sized businesses. The company's flagship product, iLeasePro, is a user-friendly and robust software platform that simplifies lease management for lessees while ensuring compliance with ASC 842 lease accounting standards.
iLeasePro is designed to help businesses streamline their lease administration processes, enhance operational efficiency, and maintain compliance with evolving accounting regulations. By combining innovation with a commitment to data security, iLease Management empowers its clients to succeed in today's complex regulatory landscape.
With the achievement of the SOC 1 Type 2 certification, iLease Management LLC further solidifies its position as a trusted partner for businesses looking for secure, reliable, and efficient lease management solutions.
John Meedzan
iLease Management LLC
+1 978-853-6335
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.