The Greater Illinois Title Company Group of Companies Completes Type 2 SOC 2 Report and ALTA Best Practices Certification
Greater Illinois Title Company, the largest title agency in Illinois and one of the largest in the country announced that it has recently completed its Service Organization Controls Type 2 SOC 2 examination and ALTA Best Practices Certification for the period of 2016 to 2017.
The examinations were performed by an independent auditing firm, A-LIGN and contained no exceptions. A Type II report includes the service organization’s system description, as well as a detailed testing of the operating effectiveness of the service organization’s controls throughout the specified period.
Completion of the Type 2 SOC 2 Type II examination covers Greater Illinois Title Company and its wholly-owned subsidiaries: Greater Indiana Title Company, GIT Florida Title Services, Greater Wisconsin Title, GIT Michigan Title Services, and Greater Missouri Title Company.
Achievement of this elite standard of compliance certification places all GITC companies in the Top 1% of title agencies in the country.
A SOC 2 examination is widely recognized because it represents that a service organization has been through an evaluation of their control activities as they relate to the applicable trust services principles and criteria.
A SOC 2 examination is performed in accordance AICPA attestation standards and is designated as an acceptable method for an entity’s management to obtain assurance about service organization internal controls over security, availability, processing integrity, confidentiality, and privacy.
“We are pleased to report that GIT and all its subsidiary companies have received SOC 2 certifications following an extensive, ongoing audit and testing over a twelve-month period. This is the highest and most complete examination and testing of processes and controls for a settlement services provider,” stated Gregory M. Kosin, President and Chief Compliance Officer for the GIT Group of Companies. “It provides comfort to lenders and consumers knowing that proper security policies and procedures have been implemented and tested. We passed both examinations without a single exception. The GIT Group of Companies is effectively in an elite and select group of title agencies in the country.”
The Greater Illinois Title Company Group of Companies, which includes Greater Illinois Title Company, Greater Indiana Title Company, GIT Florida Title Services, Greater Wisconsin Title Company, GIT Michigan Title Services, Greater Missouri Title Company and Greater Illinois Tax Deferred Exchange Corporation, operates from thirty five offices and closing locations in seven states and services national business through its National Title Services Group™.