StatPro Inc., a leading provider of cloud-based portfolio analytics and financial data solutions for the global asset management industry, announced today that its North American operations successfully completed its second annual SSAE 16 Type II audit for its hosted analytics platform and market data services in its third party colocation facility. StatPro also completed its first SSAE 16 Type II audit over the hosting of StatPro Revolution, a cloud-based portfolio analysis and reporting platform with over 150 clients in 25 countries.
SSAE 16 is the acronym for the American Institute of Certified Public Accountants (AICPA) Statement on Standards for Attestation Engagements (SSAE) No. 16. SSAE 16 defines the professional standards used by a service auditor to assess the effectiveness of internal controls of a service organization and their consistent operation over a period of time. SSAE 16 is the new standard that supersedes the previous SAS 70 standard.
Completed in November 2012, StatPro’s SSAE 16 Type II audit for StatPro Revolution covered the period June 1st, 2012 to September 30th, 2012. The audit was performed by PricewaterhouseCoopers and provides StatPro’s clients and their auditors with a level of assurance regarding the control environment, risk assessment activities, control activities, communication systems, and monitoring activities that StatPro maintains in its technology production environment. Included in the scope of the audit were StatPro North America’s information technology controls, including logical security, change management, backup and recovery, and the processing and scheduling that support these services.
Andrew Peddar, CEO North America commented: “This continued audit of our service demonstrates our commitment to providing the asset management industry with a secure and robust technology platform for portfolio analytics, asset valuation and reporting and we are delighted to extend the audit to include StatPro Revolution, our cloud-based portfolio analysis and reporting service. Successfully completing another SSAE 16 Type II audit provides increased assurance and confidence to our clients in the security of our hosted and cloud-based analytics platforms and our market data services. It also demonstrates our dedication to the security of our technology infrastructure and clients’ data.”