NEI Global Relocation is pleased to announce that our Service Organization Control (SOC 1 and SOC 2) audits achieved ZERO findings.
SOC 1 – Compliance with Financial Laws and Regulations to Combat Fraud
A SOC 1 audit is for service organizations and assesses the internal controls and procedures which are in place to protect client data – more specifically related to financial reporting. A SOC 1 report validates the organization's commitment to delivering high quality, secure services to clients.
This report provides customers with an independent opinion so they can be confident that financial laws and regulations comply with corporate responsibilities to combat corporate and accounting fraud.
“NEI employees are always focused on the details and established processes,” said Michelle Moore, NEI Chief Global Mobility officer. “As a service organization, there is no higher compliment than to go through an extensive SOC 1 audit with ZERO findings. A big thank you goes out to all our employees for recognizing the importance of being consistent with processes and accurate with data.”
The AICPA clarifies that this type of SOC report for service organizations provides a level of assurance to the organizations’ clients that financial reporting is practiced in accordance with the Statement on Standards for Attestation Engagements SSAE No. 18.
SOC 2 – Availability, Security, and Confidentiality
The SOC 2 report addresses a service organization’s controls that relate to services, operations, and compliance. NEI’s SOC 2 reports on the criteria of availability, security, and confidentiality – that which is often categorized under data security.
“We are very excited to receive this kind of recognition with our SOC 2 audit,” said Greg Keith, NEI Chief Information Officer. “It means we are performing extremely well with our data security processes and controls. Privacy and liability concerns have increased the demand for assurances of confidentiality and privacy with customer data. NEI’s SOC 2 audit results demonstrate our commitment to protecting our Client and Company confidential information.”
The SOC 2 report is connected to the SSAE 18 standard and was created in part because of the rise of cloud computing and business outsourcing of functions to service organizations.
To further extend those assurances to our clients, it is important to know that NEI not only achieve ZERO findings in our most recent SOC 1 & 2 audits but has also received that level of recognition multiple times in the past. Additionally, NEI was recognized as the #1 relocation management company in the 2020 and 2021 Trippel Relocation Managers’ Surveys – most recently scoring #1 positions in Data Security for Averages and Net Satisfaction.
Should you want more information about our SOC 1 and 2 Audit results, please reach out to Michelle Moore, NEI Chief Global Mobility Officer or Greg Keith, NEI Chief Information Officer. We are always here to help.