Timothy R. Bowling

CPA

Partner, Audit Services 

Tim is an Audit Partner in Blackman Kallick’s Service Organization Control (SOC) services group, which provides SOC 1 (formerly called SAS 70), SOC 2, and SOC 3 audits to outsourced service organizations. Tim also manages financial statement audits for technology companies and emerging enterprises.

With a deep understanding of internal controls, Tim helps his clients mitigate their risks by:

• Leading audits and risk assessments in accordance with the SOC reporting framework issued by the American Institute of Certified Public Accountants (AICPA)
• Overseeing the performance of risk assessments and identifying opportunities to improve internal controls
• Leveraging his in-depth knowledge of accounting standards and revenue recognition for multiple-deliverable arrangements to manage financial statement audits for technology companies and other service organizations
• Advising emerging enterprises on accounting for complex equity instruments such as warrants, derivatives, and stock options

Recognizing that outsourced service organizations are being asked by their clients and other stakeholders to provide a higher level of assurance, Tim has contributed to building Blackman’s capabilities and methodology for performing internal control audits in accordance with the SOC reporting framework. Tim’s experience as both an internal audit manager and a financial-statement auditor gives him insight into how SOC reports can be used by the service organization and its client to address each entity’s risk-management needs.

Tim understands that technology and outsourcing facilitate efficiencies while introducing new financial, operational, and compliance risks. He works with his clients and his team to assess those risks and identify ways to improve the internal-control environment, enhancing the reliability of information available to management, clients, and other stakeholders and allowing them to make more confident decisions.

Tim draws on his extensive experience to help technology, financial, and new economy organizations, as well as other companies that deliver multiple products or services under a single contract, to better understand and apply the evolving revenue recognition standards.

Credentials and Professional Involvement

A CPA and member of the AICPA and Illinois CPA Society, Tim received a BS in Business with an emphasis in Accounting from Virginia Polytechnic Institute and State University (Virginia Tech).

Tim regularly shares his knowledge on SOC reporting and risk assessments through presentations to trade organizations such as the Insurance Accounting & Systems Association (IASA). He is the author of articles and white papers on SOC audits and matters affecting service organizations.

 

Articles by Tim

• More Options to Enhance Trust:
  New Reporting Framework Provides Assurance on Service Organization Controls
• Important SAS 70 Internal Control Reporting Changes and Their Impact on Service Organizations

News about Tim

• New Partner Strengthens Blackman's SOC Audit Practice
• Which Service Organization Control Reporting option is right for your company?