Since 2003, 39 leading area not-for-profit organizations have benefitted from the expertise of ARCHS’ Leveraged Resources Management, Inc., (LRM). LRM provides its clients with a full array of financial and bookkeeping services, enabling all of them to attain a clean "unqualified opinion” on their annual financial audits.
For the third consecutive year, LRM has completed a special audit that verifies its conformity with an important standard known as the Statement on Standards for Attestation Engagements (SSAE) No. 16.
Completing a sought after SSAE No. 16 audit provides reasonable assurance that the financial data and information provided by LRM’s clients will be processed and reported in an accurate and secure manner.
By completing this industry standard audit, LRM’s clients are assured that LRM adheres to key industry best practices for policies, procedures, and operations, including the security of information and data. It is important for financial services providers to comply with SSAE standards due to the sensitive nature of the data that is being managed.
LRM’s most recent SSAE No. 16 report was compiled by the accounting firm of Anders CPAs and covers the period from July 1, 2014 through June 30, 2015. The examination means that an independent service auditor has formally evaluated and issued an opinion on the description of selected LRM systems and the suitability of the design and operating effectiveness of applicable controls.
SSAE No. 16, set forth by the American Institute of Certified Public Accountants, is the new industry service standard that replaced the Statements on Auditing Standards No. 70 (SAS 70) as of June 2011. SSAE No. 16 outlines the guidance standards for examining and reporting a service provider’s business controls.