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NBS Successfully Completes SOC 1 and SOC 2 Examinations

NBS Successfully Completes SOC 1 and SOC 2 Examinations. 

National Benefit Services, LLC (NBS) has successfully completed its SOC 1 and SOC 2 examinations.  NBS demonstrates a commitment to protecting clients and participants by adopting rigorous and effective procedures, controls, and processes.  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). 

 Service Organization Controls (SOC) reports are developed for third-party service providers and issued by CPAs. The reports provide information on a service organization’s internal controls, policies, and procedures which could impact their client’s financial and other sensitive data. Clients of a third-party service provider may need a SOC report to comply with regulatory requirements. These reports allow users to obtain an objective evaluation of the effectiveness of controls that address the compliance, operations, and financial reporting of a service organization. 

 For 2018, NBS has issued the following SOC reports: 

  •   SOC 1 Type 2
  •  SOC 2 Type 2  

Clickhere for more information about the different kinds of SOC reports. 

 NBS Commitment to Quality.
Our efforts in completing these examinations demonstrate our ongoing commitment to our clients to serve as a dependable, transparent, secure Third Party Administrator (TPA) focused on minimizing risk, increasing value, and maintaining service standards. Our SOC 1 audit verifies we maintain sound internal controls and examines the effectiveness of the policies and procedures relating to our retirement and cafeteria benefit plan administration and transaction processing.  Our SOC 2 audit provides assurance that our controls meet or exceed the AICPA’s trust criteria of security and system availability. 

 Benefits of NBS SOC Reports to Clients.

  • SOC 1 and SOC 2 reports provide our clients with peace of mind knowing an independent auditor has assessed our controls for suitably and effectiveness 
  • SOC 1 report assists our clients’ auditors in planning their independent plan audits 
  • SOC 1 report generally results in lower costs for clients whose plan requires an independent audit 

 Our clients have confidence in their decision to partner with NBS knowing we are committed to quality and to strong internal controls.  For a copy of the SOC 1 or SOC 2 audit report, please contact either your NBS Relationship Manager or submit a request here.