Thomson Reuters Checkpoint has added customizable tools to address concerns about controls related to security, availability, processing integrity, confidentiality and privacy.
PPC's Practice Aids for Reporting on Controls of Service Organizations - SOC 2 Engagements provide guidance, real-life examples, control matrices, and timesaving checklists to help practitioners perform complex service organization controls (SOC) 2 engagements effectively and efficiently.
“In response to an increasing need for assurance services related to information security and data privacy, many CPA firms have developed niche practices in this area,” said Scott Spradling, vice president of the audit and accounting segment with the Tax & Accounting business of Thomson Reuters, in a statement. “We are very pleased to provide these new tools to help practitioners conduct SOC 2 engagements with greater confidence.”
Separately, Thomson Reuters has added new content to Checkpoint Catalyst on the Uniform Division of Income for Tax Purposes Act (UDITPA) and its impact on state allocation and apportionment of income. Most states adopted UDITPA or the Multistate Tax Compact (MTC) in the past, but are increasingly moving away from the UDITPA model in favor of weighted sales factor formulas and market-based sourcing. The MTC was overhauled in 2014 and 2015 to incorporate these and other changes.
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