A3 Freight Payment is pleased to announce the publication of
its latest white paper on topics of interest to freight payment stakeholders.
Below is an excerpt from the beginning of the paper:
An essential element in the selection
of a freight payment company is a review of that company’s SOC 1 report. The
SOC 1 report provides important insight into the internal control structure of
a freight payment provider, as well as the effectiveness of those controls.
Why is SOC 1 important for Sarbanes-Oxley compliance?
The Sarbanes-Oxley Act of 2002, is a
U.S. federal law that has set new and enhanced standards for all U.S. company
boards, management and public accounting firms.
The objective of Sarbanes-Oxley, often referred to as SOX), is to provide assurance to investors
that the internal control structure of a company is sound and can be relied
upon to produce reliable financial data.
The SEC has repeatedly reminded
management teams of companies which are subject to SOX that…
Download the full white paper here:
Role of an SOC 1 report (formerly SAS 70) in Freight Payment