N.C.-based Law Firm Brady & Kosofsky Certified for Two Compliance Audits

August 4, 2015

Brady & Kosofsky, a North Carolina-based real estate title, REO, loss mitigation and closing law firm, has obtained a service auditor's review for the Service Organization Controls (SOC) 2 Type II and ALTA's Best Practices under section 9540 under the American Institute of CPA’s (AICPA) Statutory Codification.

The audit and assessment was performed by California-based CPA firm KSJG. Both audits apply to the full range of the law firm’s services.

"Successfully completing audits for SOC 2 TYPE 2 and ALTA Best Practices demonstrates Brady & Kosofsky’s commitment to delivering a compliant, efficient solution for closing and title services," said Jaime Kosofsky, one of the founding partners of the firm. "We’re particularly proud that these certifications address not only the entire stack from data center through the closing table but also across our vendor panels, so our clients can rely on us, knowing their content is secure, and they will receive the same high level of legal service they have grown accustomed to over the years.”

The SOC 2 is based on Trust Services Principles, which according to the AICPA, “helps differentiate entities from their competitors by demonstrating to stakeholders that the entities are attuned to the risks posed by their environment and equipped with the controls that address those risks.” Both reviews are based on internationally accepted best practices.

The ALTA Best Practices certification under section 9540 of the AICPA Statutory Codification stands for the proposition that Brady & Kosofsky’s closing and settlement practices as of June 1, 2015, comply, in all material respects, with the ALTA Best Practices based on the ALTA criteria, including the core pillars of licensing, trust accounting, settlement practices, post closing, security and consumer complaint resolution.

“Based on the results of our assessment procedures as set forth in the Assessment Procedures and our responses indicated in the “Assessment Recap” column, we believe our title insurance and settlement practices as of June 30, 2015, comply, in all material respects, with the ALTA Best Practices based on the ALTA criteria,” Kosofsky added.

Contact ALTA at 202-296-3671 or communications@alta.org.