Lincoln News

LPC is pleased to announce that we are Service Organization Control (SOC) compliant (formerly SAS 70) on Multifamily Property Management processes! Key property management, accounting and IT processes were reviewed and deemed compliant in accordance with SOC requirements. A SOC report was issued certifying the results of the review.

A SOC report is management's description of the service organization's system and the suitability of the design of the controls to achieve the related control objectives included in the description. These key internal control elements followed by LPC were reviewed:

- Control Environment

- Risk Assessment

- Monitoring

- Information and Communication

Control objectives identified within the following business activities were reviewed to ensure that with reasonable assurance the activities would be completed fully and accurately.

- Leases

- Cash Receipts

- Electronic Receipts

- Expenses and Cash Disbursement

- Reporting

- System Access