The audit’s sheer scope and resulting attestation clearly reflect Avalara’s commitment to maintaining strong controls and procedures for our customers.
Bainbridge Island, WA (PRWEB) April 10, 2012
Avalara (http://www.avalara.com), the market leader and visionary in sales tax automation for businesses of all sizes, today announced its internal control activities have earned a Statement on Standards for Attestations Engagements (SSAE) 16, replacing its Statement on Auditing Standards No. 70 earned in 2010.
SSAE 16 is an attestation standard put forth by the Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA) that evaluates the internal controls of a service organization. An organization must demonstrate it has established and up-to-date control objectives and activities in place to earn a SSAE 16 attestation.
“Virtually every function of the company was touched by the SSAE audit, from our data processing and building security to disaster recovery and backup, said Avalara Founder and CEO Scott McFarlane. “The audit’s sheer scope and resulting attestation clearly reflect Avalara’s commitment to maintaining strong controls and procedures for our customers. It’s a worthwhile endeavor that demonstrates our credentials and builds on our foundation of trust.”
SSAE 16 effectively replaces SAS 70 as the authoritative guidance for reporting on service organizations. SSAE 16 engagements are generally performed by audit, risk, and control oriented professionals who have experience in accounting, auditing, and information security. A SSAE 16 engagement allows a service organization to have its control policies and procedures evaluated and tested by an independent party.
Avalara is the leader and visionary in sales tax automation for businesses of all sizes. It simplifies the complexity associated with sales and use tax and – in the process – makes compliance achievable by all.
Avalara partners with nearly 170 of the world’s leading accounting and commercial software publishers to accomplish this. Its web-based offering provides the most complete set of transactional tax compliance services available, including tax calculation, exemption certificate management and returns processing. It also offers 1099 filing and reporting.
Avalara currently serves more than 60,000 registered users globally and calculates VAT, sales and use taxes on more than 750 million transactions annually. It also manages more than 1.5 million exemption certificates, submits approximately 500,000 returns and files and remits nearly $10 billion in sales and use tax collections per year.
Established in 2004, Avalara is a founding member and Certified Service Provider of the Streamlined Sales Tax initiative and one of the fastest-growing companies in America. It employs more than 275 professionals at its headquarters on Bainbridge Island, WA and offices in Seattle; Irvine, San Diego and Rocklin, CA; Falls Church, VA and Pune, India.
For more information, please visit http://www.avalara.com.