Completion of the SAS 70 Type II examinations indicates that selected Misys processes, procedures and controls have been formally evaluated and tested by an independent accounting and auditing firm. The examinations included controls related to logical access to systems, programs and data; change management; processing controls; environmental controls and physical security.
A SAS 70 examination is widely recognised, because it represents that a service organisation has been through an evaluation of their control activities as they relate to an audit of the financial statements of its customers. A Type II report not only includes the service organisation's description of controls, but also includes detailed testing of the design and operating effectiveness of that service organisation's controls.
Hach Hashasian, Sr. Director of SaaS Operations & Compliance at Misys Treasury Capital Markets, elaborates: âHaving completed these two SAS 70 examinations, Misys Confirmation Matching Services and Opics Plus customers and their respective auditors will be able to use the reports to assess the internal controls at Misys as they relate to an audit of their financial statements. They allow user organisationsâ managements to obtain assurance on the design and operating effectiveness of the controls at Misys in a cost-effective manner. The Type II compliance provides our customers with cost savings while also reinforcing the value of the people, processes and technology that are at the heart of Misysâ business model."
Misys is committed to providing high quality, best practice operations in its expanded Software-as-a-Service delivery and undertaking annual SAS70 exams is, in part, evidence of that commitment.
Misys Treasury & Capital Markets has 20 years of market experience and unrivalled software development expertise. It creates integrated, comprehensive solutions for financial institutions to manage their capital market activities across multiple asset classes and multiple product distribution channels.