Greater Illinois Title Completes SOC 2 Report and ALTA Best Practices Certification
June 14, 2016
Illinois-based Greater Illinois Title Company reported that it recently completed its Service Organization Controls SOC 2 examination under AT Section 101 and its AT 101 ALTA Best Practices Certification. The examination and certification were conducted by A-LIGN, a licensed CPA firm, accredited ISO 27001 certification body and ALTA Elite Provider.
Completion of the SOC 2 Type I examination and ALTA Best Practices Certification indicates that Greater Illinois Title Company, and its subsidiary companies (Greater Indiana Title, GIT Florida Title, Greater Wisconsin Title, GIT Michigan Title, Greater Missouri Title) have implemented processes, procedures and controls that have been formally evaluated and tested by an independent accounting and auditing firm according to AICPA Standards. The examination included the company’s controls related to the trust services principles and criteria of security, availability, processing integrity, confidentiality and privacy.
A SOC 2 examination is widely recognized, because it represents that a service organization has been through an evaluation of their control activities and not only includes the service organization's system description, but also includes detailed testing of the design of the company’s controls.
“A SOC 2 report and AT 101 ALTA Best Practices Certification are an exhaustive examination and certification of our company’s compliance and controls.” said Gregory M. Kosin, president and chief compliance officer for the GIT Group of Companies. “It will provide comfort to our lender clients and consumers knowing that proper security policies and procedures have been implemented and tested, and that GIT and its subsidiaries are SOC 2 compliant. We passed both examinations without a single exception. The GIT Group of Companies is effectively in an elite and select group of title agencies in the country.”
Contact ALTA at 202-296-3671 or [email protected].