OATI Successfully Completes SSAE 16/ISAE 3402 Audit

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Open Access Technology International, Inc. (OATI) successfully completes a Statement on Standards for Attestation Engagements No. 16 (SSAE 16) Type II Audit Report, as well as a Type II Report under the International Standard on Assurance Engagements, Assurance Reports on Controls at a Service Organization (ISAE 3402).

“Through rigorous standards, strict adherence to NERC CIP compliance, and a new Tier 4 Data Center, OATI is able to bring our customers peace of mind that their data are safe and secure,” said Sasan Mokhtari, President & CEO.

Open Access Technology International, Inc. (OATI) has successfully completed a Statement on Standards for Attestation Engagements No. 16 (SSAE 16) Type II Audit Report as well as a Type II Report under the International Standard on Assurance Engagements, Assurance Reports on Controls at a Service Organization (ISAE 3402). Since 2005, OATI has undergone annual independent audits under the American Institute of Certified Public Accountants (AICPA) Statement on Auditing Standards No. 70, Service Organizations (SAS 70) by an external auditor. Each year OATI’s auditors have issued service audit reports without material exception. The high level of assurance provided by the audit helps to instill confidence in OATI systems which are used on a daily basis throughout the energy industry.

Beginning in 2011, the AICPA has replaced the SAS 70 as a service auditing standard with the SSAE 16 standard. This change in standards is providing greater assurance of the achievement of the control objectives of the service organization being audited. The independent firm McGladrey & Pullen, LLP (McGladrey) conducted a comprehensive evaluation of the effectiveness of OATI processes and controls, which included the North American Electric Reliability Corporation (NERC) Critical Infrastructure Protection (CIP) requirements. McGladrey found that OATI controls were complete, accurate, and in accordance with the standards established by the AICPA. OATI’s audit period spans the timeframe of April 01 through September 30, 2011.

“I am pleased OATI has been able to continue its history of compliance success by passing our audit for a sixth year in a row,” said Sasan Mokhtari, President & CEO. “Through rigorous standards, strict adherence to NERC CIP compliance, and a new Tier 4 Data Center, OATI is able to bring our customers peace of mind that their data are safe and secure.”

OATI (http://www.oati.com) provides state-of-the-art Energy Trading and Risk Management, Transmission Scheduling, Congestion Management; Compliance, Smart Grid and Settlement Systems for the energy industry. OATI webTrader, webTrans, webSmartEnergy, webCompliance, and webTag product lines provide the tools for generation, trading, and transmission companies for seamless participation across energy markets. OATI serves in excess of 700 client companies in the energy industry in North America.

For additional information regarding this news release please contact sales(at)oati(dot)net.

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