Uniontown, OH (PRWEB) February 01, 2012
Summit Retirement Plan Services (Tegrit Group), is pleased to announce that the control procedures and compliance for its Plan Administration Process have been verified under the terms of the Statement on Standards for Attestation Engagements No. 16 (SSAE 16) by independent auditing firm Bober Markey Fedorovich.
“The SSAE 16 report is the industry standard that helps assure clients, prospective clients and auditors about the integrity of our service capabilities. It serves as a critical piece of external credibility about the depth and quality of our control procedures,” remarked John Harabedian, COO of Summit Retirement Plan Services. “We want our clients and the professional firms we partner with to know that we are dedicated to adhering to strict policies and procedures and strive to continually improve the way we serve our clients.”
SSAE 16, developed by the Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA), replaces the Statement on Auditing Standards No. 70 (SAS 70), which was the standard used for reviewing service organization control processes for nearly two decades. Summit Retirement Plan Services has received the SSAE 16 Report, SOC Type II assessment.
Bober Markey Fedorovich performed an independent audit and extensive testing of control activities and effectiveness at Summit Retirement Plan Services location, with a full assessment of:
- Control Objectives and Related Controls
- Risk Assessment Process
- Information Systems Environment
- Plan Administration Process
- Information and Communication
- Human Resources Policies and Procedures
About Tegrit Group
Tegrit Group (comprised of Tegrit Technologies, Tegrit Administrators, Summit Retirement Plan Services, and Advisors Pension Services) provides advanced recordkeeping and software solutions, actuarial consulting, and administration services for defined benefit, defined contribution, cash balance and retiree medical plans. The Tegrit Group team includes actuaries and other professionals with decades of private and public sector experience focused on delivering tools and consulting that support the culture, needs and goals of a broad spectrum of retirement plan sponsors.
With over 100 associates, Tegrit Group provides services to over 2,000 employers and has employees in five offices in Cleveland, Columbus and Akron, Ohio, as well as Livonia, Michigan, and Spartanburg, South Carolina.
For more information visit Tegrit.com or call 1.877.7-Tegrit (1.877. 783.4748).