NBS Successfully Completes SOC 1 and SOC 2 Examinations

NBS invests in technology, systems, people, and practices to keep our clients’ plans safe and secure.  We work hard to earn the confidence of our clients and partners.  Trust and integrity are demonstrated, in part, through subjecting ourselves to rigorous audits by outside parties.  NBS is pleased to announce that we have successfully completed our SOC 1 and SOC 2 examinations for the 2021 calendar year.

The independent certified public accounting (CPA) firm, Tanner, LLC, performed the examinations and issued the corresponding reports in accordance with the attestation standards of the American Institute of Certified Public Accountants (AICPA).

NBS has completed the following examinations for 2021:

  • SOC 1 (Type 2)
  • SOC 2 (Type 2)

The SOC 1 focuses on controls relevant to a client’s financial audit and on our business processes and information technology.  The SOC 2 provides assurance that our controls satisfy the AICPA’s trust criteria of security and system availability.  Both audits are Type 2, which go beyond “point in time” assessments.  They demonstrate that controls were in place and operated effectively throughout the year.

Last year, the U.S. Department of Labor (DOL) issued cybersecurity guidance for plan sponsors, fiduciaries, participants, and record keepers on best practices for maintaining plan cybersecurity.  NBS partners have peace of mind knowing that their plan data is protected, consistent with the DOL guidance and evidenced through our SOC examinations.