SSAE 18 Type 1 Certification

Meridian Title Completes Examination in Conformity with Statement on Standards for Attestation Engagements (SSAE) No. 18 Type 1, Reporting on Controls at a Service Organization

Completion of the SOC 1/SSAE 18 Type I examination indicates that Meridian Title Company’s processes, procedures and controls have been formally evaluated and tested by an independent accounting and auditing firm. The examination included the company’s controls related to:

Corporate Governance
Licenses
Escrow Trust Account Reconciliation
Settlement Procedures
Title Policy Production and Delivery
Reporting and Premium Remittance
Liability Insurance
Customer Complaints
Information Security
Change Management – Network Infrastructure
Computer Operations (Incident Monitoring and Problem Management, Data Transmission, Data Backup)
Vendor Management

SOC 1/SSAE 18 was released by the Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA) as the “Statement on Standard for Attestation Engagements (SSAE) No. 18 Attestation Standards: Clarification and Recodification.” This standard provides clarified attestation standards, but still maintains the goal of providing assurance regarding the controls at a service organization relevant to the user entities’ internal control over financial reporting.