Greater Illinois Title Company Completes Type 2 SOC 2 Report and ALTA Best Practices Certification
April 5, 2018
Illinois-based Greater Illinois Title Company (GIT) recently completed its Service Organization Controls Type 2 SOC 2 examination and ALTA Best Practices Certification for the period of 2016 to 2017. The examinations, performed by independent auditing firm A-LIGN, contained no exceptions. A Type II report includes the service organization's system description, as well as a detailed testing of the operating effectiveness of the service organization's controls throughout the specified period.
“This is the highest and most complete examination and testing of processes and controls for a settlement services provider,” said Gregory M. Kosin, president and chief compliance officer for the GIT Group of Companies. “It provides comfort to lenders and consumers knowing that proper security policies and procedures have been implemented and tested. 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.”
Completion of the Type 2 SOC 2 Type II examination covers Greater Illinois Title Company and its wholly owned subsidiaries Greater Indiana Title Company, GIT Florida Title Services, Greater Wisconsin Title, GIT Michigan Title Services and Greater Missouri Title Company.
A SOC 2 examination is widely recognized, because it represents that a service organization has been through an evaluation of their control activities as they relate to the applicable trust services principles and criteria. A SOC 2 examination is performed in accordance AICPA attestation standards and is designated as an acceptable method for an entity’s management to obtain assurance about service organization internal controls over security, availability, processing integrity, confidentiality and privacy.
Contact ALTA at 202-296-3671 or [email protected].