Deloitte & Touche Performed Independent Audit of Thomson Treasura Controls, Processes
New York, NY, June 20, 2006 -- Thomson Financial, an operating unit of The Thomson Corporation (TSX: TOC, NYSE: TOC) and leading provider of information and technology solutions to the worldwide financial community, today announced that Treasura, the first comprehensive treasury solution launched a year ago by Thomson Corporate Services, has achieved a Statement of Auditing Standards No. 70, Services Organizations (“SAS 70”) Type II Certification.
Deloitte & Touche performed the independent audit of Treasura’s operational controls and processes leading to a SAS 70 Type II certification. This certification will assist clients using the Treasura solution to more effectively and efficiently meet their Sarbanes-Oxley, external audit and other regulatory and compliance activities.
Jacqueline Corbett, vice president for product development, Thomson Financial, said: "We constantly look to enhance our services and enable our clients to maximize efficiencies. The achievement of SAS 70 certification for Treasura allows us to provide our clients with the most sophisticated solution to meet their treasury needs, while being in full compliance with regulatory requirements."
During the past year, Thomson Financial has signed more than 70 organizations to the browser-based service offering, including Oglethorpe Power Corporation and Sierra Pacific Resources.
The term "SAS 70" refers to the AICPA Statement on Auditing Standards (SAS) 70 which defines the standards for an auditor to assess the internal controls of a service organization and to issue an audit report. A Type II Audit provides an opinion on the fairness of the description of the controls of the service organization, the suitability of controls to meet the specified control objectives, and whether the controls were operating effectively during the review period, which is typically 6 months. For clients that use external service provider systems in the support and preparation of financial reporting, a SAS 70 Report can be used by the client’s auditors to reduce the need for its own separate audit of the systems in use.