Lombard, IL (PRWEB) July 29, 2011
Statement on Standards for Attestation Engagements (SSAE) No. 16, Reporting on Controls at a Service Organization, was issued by the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA) in April 2010. SSAE 16 effectively replaces SAS 70 as the standard for reporting on service organizations with an effective date of June 15, 2011. SSAE 16 was drafted and issued with the intention and purpose of updating the US service organization reporting standard so that it mirrors and complies with the new international service organization reporting standard – ISAE 3402 – i
Completion of the SSAE 16 Type II examination indicates that 360TCS’ processes, procedures and controls have been formally evaluated and tested by an independent accounting and auditing firm. The examination included the company’s controls related to: Environmental Control, Environmental Security, Network Monitoring and Physical Security.
SSAE 16 is designated by the U.S. Securities and Exchange Commission (SEC) as an acceptable method for a user entity’s management to obtain assurance about service organization internal controls without conducting additional assessments. In addition, the requirements of Section 404 of the Sarbanes-Oxley Act of 2002 make SSAE 16 reports even more important to the process of reporting on effective internal controls by public companies. - ii
A SSAE 16 examination is widely recognized, because it represents that a service organization 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 organization's system description, but also includes detailed testing of the design and operating effectiveness of the service organization's controls.
“360TCS is 100% committed to providing clients with the service and reliability required to support their Mission Critical compute environments,” states Don Welbourn, Director of Sales and Account Relations at 360TCS, “by successfully completing a SSAE-16 Type II examination, we are able to formally document and test the processes, controls and attention to detail that have allowed 360TCS to achieve 100% uptime since the commissioning of our facility in the Fall of 2008.”
About 360TCS, LLC
360TCS, LLC is a leading provider of high density colocation and data center services based in Lombard, IL. 360TCS provides a level service to an enterprise client base that is simply unattainable from other providers. The capability to deliver and effectively cool over 40kW per cabinet makes 360TCS one of a handful of facilities that are ideal for supporting the cutting edge of today’s technology including power hungry blade servers, storage arrays and cloud computing clusters.
i - "American Institute of Certified Public Accountants" - http://www.aicpa.org. http://www.aicpa.org/InterestAreas/FRC/AssuranceAdvisoryServices/Pages/SORHome.aspx.
ii - "Public Company Accounting Oversight Board" - http://www.pcaobus.org http://pcaobus.org/Standards/Auditing/Pages/Auditing_Standard_5_Appendix_B.aspx#useofserviceorganizations