McHenry, IL -- (SBWIRE) -- 10/19/2011 -- Effective June 30, 2011, reporting standards for security certifications officially changed from the SAS 70 to the SSAE 16 industry standard for auditing service organizations.
The Statement on Auditing Standards No.70 (SAS 70) is recognized globally as the auditing standard developed by the American Institute of Certified Public Accountants (AICPA). Established in 1992 the purpose of the auditing standards was to report on the "processing of transactions by service organizations", which can be done by completing either a Type I or a Type II audit.
As of June 30 of this year, the SAS 70 received an enhancement known as the SSAE 16. This new standard of audit reporting is critical as it will allow VerityThree, Inc. to compete at a new level while providing the international businesses the reassurance that our organization is qualified under the new standards.
We have currently contracted a company out of St Louis, Stone Carlie and Associates, to perform this assessment in Q4. VerityThree is currently under review and consideration for the SOC 2 Type 1 report.
SOC 2 reports specifically examine one or more of the following five key system attributes:
• Processing Integrity
VerityThree, Inc. will have its audit conducted and reports finalized on how well our controls within the Security and Confidentiality trust principles are maintained . This certification is a great enhancement for our financial services organization as it is verification of the standards at which VTI operates at ensuring that we operate using best practices and security protocols for all services we provide.
About VerityThree, Inc.
VerityThree, Inc. (VTI) is a leading provider of technology solutions for community banks, engineering firms, and other businesses. We build IT strategies for our clients by reverse engineering the long-term vision and goals of an organization and applying a customized delivery of strategic technology consulting and technology management services. With more than 12 years of business experience, VerityThree leverages strategic partnerships, industry recognized certifications, and ""best practice"" offerings to authenticate its commitment to long-term client relationships. VerityThree has committed annually to the examination and reporting of controls in a service organization under the Statement on Standards for Attestation Engagements (SSAE) No. 16.
For more information, contact Jonathan Smith, President of VerityThree, at (815) 385-4474 or firstname.lastname@example.org.