PlanSource, one of the nation’s leading providers of HR and benefits technology solutions, announced today that it has successfully achieved a SAS 70 Type 2 certification, the highest level SAS 70 validation. Technically described as an unqualified opinion, this certification makes PlanSource the only provider in its size and industry class to obtain this level of SAS 70 completion. Established by the American Institute of Certified Public Accountants (AICPA), SAS 70 is a widely recognized auditing standard for organizations to demonstrate they have systematic operational controls and processes in place.
A SAS 70 examination demonstrates that an independent accounting and auditing firm has reviewed and examined an organization’s control objectives and activities. A SAS 70 Type 2 report not only includes a description of an organization’s internal controls but also encompasses detailed testing of these controls over a minimum six-month period. The SAS 70 Type 2 audit was conducted for PlanSource by the accounting firm SAS 70 Solutions.
SAS 70 Type 2 certification demonstrates PlanSource’s commitment to its customers to provide a controlled environment which operates effectively and efficiently. As a result of this exhaustive process, customers can rest assured that they are receiving the highest standards of service and can have an even greater level of confidence in the integrity of PlanSource’s operations, controls and standards.
“We felt it was imperative to choose to invest and participate in this extensive review process to further express our dedication to quality and commitment for our clients”, said Scott Carver, President of PlanSource. “The results of the audit report provide solid evidence to our clients and prospects that as a customer of PlanSource, the platform we provide and the data housed in that platform will be managed with the highest level of care and under the highest standards of internal controls and processes.”
For any partners of PlanSource that are subject to the section 404 compliance requirements of the Sarbanes-Oxley Act of 2002, the SAS 70 Type 2 certification is officially designated by the Securities and Exchange Commission (SEC) as an acceptable method for a company’s management to obtain assertions about an organization’s internal controls, without having to conduct separate assessments. PlanSource customers, therefore, can rely on the SAS 70 Type 2 certification to help meet those requirements.