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StatPro awarded SAS 70 certification

StatPro Canada, Inc., a leading provider of portfolio analytics and asset pricing solutions for the global asset management industry, today received the prestigious SAS 70 certification for its StatPro Portfolio Management Hosting Services and StatPro Data Services. The audit was performed by a nationally recognized independent auditing firm and was completed in March 2009. Included in the scope of the audit were StatPro Canada, Inc.’s security data processing controls and the general controls that support these activities.

SAS 70 is an acronym for the American Institute of Certified Public Accountants (AICPA) Statement on Auditing Standard (SAS) No. 70, titled “Reports on the Processing of Transactions by Service Organizations”. SAS No. 70 defines the professional standards used by a service auditor to assess the internal controls of a service organization and issue a service auditor’s report. “StatPro recognizes that Sarbanes-Oxley legislation has placed an increased focus on the internal controls of valued business partners. The SAS 70 audit report is designed to provide clients with a certain level of assurance regarding the controls that we maintain, namely the control environment, risk assessment activities, control activities, information and communication systems, and monitoring activities. The certification is also key to our corporate Software as a Service strategy where we can offer secure and reliable hosting of the StatPro suite of products.” said Mark Bramley, CEO, StatPro North America.