Part D Advisors Have Successfully Completed its First SOC 1 Type 2 Audit

Tuesday, September 18, 2018 Menīs Health News
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CyberGuard Compliance, LLP has announced that Part D Advisors (PDA), founded in early 2005 after the launch of the Retiree Drug Subsidy (RDS) program has successfully completed their first (SSAE) No. 18. SOC 1 (Service and Organization Controls) Type 2 audit. This accomplishment reflects the PDA's persisting obligation to corporate improvement and dedication to customer service.

LIVONIA, Mich., Sept. 18, 2018 /PRNewswire-PRWeb/ -- The audit undergone by Part D Advisors was conducted in accordance

with the American Institute of Certified Public Accountants (AICPA) SOC reporting standards. The audit was conducted by CyberGuard Compliance a full-service accounting firm providing SOC 1 audits, SOC 2 audits, and other IT compliance audits.

"Part D Advisors has established a strong commitment to their business through the implementation of a robust set of internal controls ensuring the security and continuity of critical customer operations," says Jim Jimenez, Managing Partner at CyberGuard Compliance, LLP. "The successful completion of this audit is a clear illustration of Part D's integrity and strong sense of responsibility to their clients.

About SSAE 18 (SOC 1) Reports SOC 1 audit reports are prepared in accordance with Statement on Standards for Attestation Engagements (SSAE) No. 18. SOC 1 reports primarily focus on business process and IT general computer controls, which may impact internal control over financial reporting. SOC 1 reports are restricted use reports, which mean use of the reports is restricted to:

  • Management of the service organization (the company who has the SOC 1 audit performed),
  • User entities of the service organization (service organization's clients), and
  • The user entities' financial auditors (user auditor).

A Type 2 report covers a specific, established period of time and is a report on management's description of a service organization's system as well as the suitability of the design and operating effectiveness of controls.

About Part D Advisors (PDA) Part D Advisors (PDA) is the nation's most experienced Retiree Drug Subsidy (RDS) administrator for both the ongoing and reopening processes and the only vendor providing AICPA SOC certified RDS support services. Since their founding in 2005, PDA has processed more than 1,800 RDS applications for more than 300 plan sponsors who have collected over $1,300,000,000 in Retiree Drug Subsidies. As the RDS industry's innovator and leader, PDA handles every aspect of both ongoing and reopening RDS processes to help plan sponsors meet all RDS requirements and maximize their subsidy potential with a unique approach and proprietary tools aimed at reducing client effort. PDA is the Retiree Drug Subsidy program industry leader and has made it their sole business to make the RDS program understandable, efficient and profitable for their clients. To learn more about Part D Advisors, visit their website: http://www.partdadvisors.com/

About CyberGuard Compliance CyberGuard Compliance is based in the United States but serves clients around the globe. The firm's leadership team has over 150 years of combined business management, operations, and related information technology (IT) experience. CyberGuard Compliance has performed over 1,500 SOC audits, and unlike most traditional CPA firms which focus on financial statement auditing and tax compliance, CyberGuard Compliance focuses on cybersecurity and compliance related engagements. These engagements include, but are not limited to, SOC 1 Audits, SOC 2 Audits, SOC 3 Audits, SOC Readiness Assessments, ISO 27001 Assessments, PCI Compliance, HIPAA Compliance, HITRUST Compliance, Vulnerability Assessments, and Penetration Testing. For more information, please visit http://www.cgcompliance.com.

 

SOURCE CyberGuard Compliance



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