Pangburn has successfully completed an American Institute of Certified Public Accountants (AICPA) SSAE 16 (SOC 1) Type 2 examination conducted by NDB Accountants & Consultants, LLP. In doing so, Pangburn maintains its adherence to one of the most stringent, industry-accepted auditing standards for service companies and provides additional assurance to its clients, through an independent auditor, that both its business process controls and information technology (IT) controls operate effectively.
The official audit report provides a thorough review of Pangburnís internal controls, policies, and processes for recordkeeping nonqualified executive benefit plans and employer owned life insurance programs. It also reviews Pangburnís entire IT infrastructure, software development life cycle, change management, logical security, network security, physical & environmental security, and computer operations.
The audit helps to assure clients that Pangburn employs sound operational processes and controls across both recordkeeping and IT. Pangburn has successfully completed an SSAE 16 (SOC 1) Type 2 audit (formerly SAS 70 audit) for nine consecutive years.