iLease Management and iLeasePro Attain SOC 1 Type 2 Certification for Lease Management and ASC 842 Lease Accounting

Certification underscores iLeasePro’s trusted, compliant platform for lease management and ASC 842 lease accounting.

BEVERLY, MA, UNITED STATES, September 11, 2025 /EINPresswire.com/ -- iLease Management LLC, the company behind the cloud-based platform iLeasePro, today announced that it has successfully achieved SOC 1 Type 2 Certification, strengthening its reputation as a trusted provider of both Lease Management and ASC 842 Lease Accounting solutions. This independent audit validates iLeasePro’s ability to maintain the highest standards of financial data integrity, internal controls, and operational security.

Raising the Bar for Lease Management and Lease Accounting
SOC 1 Type 2 Certification, governed by the American Institute of Certified Public Accountants (AICPA), is the benchmark for evaluating the effectiveness of internal controls over financial reporting.

“Lease portfolios are mission-critical and impact nearly every financial statement,” said John Meedzan, Managing Partner of iLease Management LLC. “Earning SOC 1 Type 2 Certification is proof that iLeasePro delivers the reliability, transparency, and compliance that organizations need for both lease management and lease accounting under ASC 842.”

Complete Lease Lifecycle Support
iLeasePro was built to manage the entire lease lifecycle—from abstracting and storing lease documents to automating ASC 842-compliant journal entries. With SOC 1 Type 2 certification, companies can rely on independently verified controls that reduce risk and support seamless audit readiness.

For Lease Management, iLeasePro enables organizations to centralize real estate, equipment, and vehicle leases, track critical dates, and store supporting documents in one secure environment. For ASC 842 Lease Accounting, the platform generates amortization schedules, calculates right-of-use assets, and creates compliant journal entries with accuracy and speed.

Why SOC 1 Type 2 Matters to Finance Teams
With many companies facing audit challenges related to lease accounting, SOC 1 Type 2 certification assures that:
- Financial Data Integrity is safeguarded, minimizing the risk of misstatements in ASC 842 reporting.
- Internal Controls are tested and verified by independent auditors.
- Audit Readiness is enhanced, allowing companies to streamline year-end reviews.
- Operational Security protects sensitive lease and financial data.

“Our clients can walk into an audit with confidence knowing that iLeasePro’s controls meet the highest industry standards,” Meedzan added.

Designed for the Needs of Modern Organizations
iLeasePro combines the flexibility of lease management with the rigor of ASC 842 accounting. Finance and accounting teams benefit from automation, compliance assurance, and real-time visibility across lease portfolios. “Organizations today need solutions that scale with growth while maintaining control and compliance,” said Meedzan. “By achieving SOC 1 Type 2, we are demonstrating that iLeasePro is a long-term partner they can trust for secure lease management and ASC 842 compliance.”

A Commitment to Ongoing Excellence
SOC 1 Type 2 Certification is not a one-time achievement. iLease Management will continue to undergo annual audits to ensure that its systems and processes evolve with industry standards.

“This certification reflects our commitment to excellence,” Meedzan concluded. “Whether our clients are hospitals, nonprofits, construction firms, or transportation companies, they can depend on iLeasePro to safeguard their lease data, streamline management, and ensure accurate ASC 842 accounting.”

About iLease Management LLC
iLease Management LLC is the creator of iLeasePro, a cloud-based software solution designed to streamline lease management and ensure compliance with ASC 842 lease accounting standards. Trusted by organizations across industries, iLeasePro provides a complete platform for managing lease portfolios, automating financial reporting, and ensuring audit readiness.

John Meedzan
iLease Management LLC
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