Salt Lake City, UT (PRWEB) May 04, 2012
Centershift, Inc., a provider of self storage management software solutions, announced today that it has successfully achieved a SSAE 16 Type II Report after an audit of internal controls by the internationally recognized independent auditing firm Grant Thornton. Centershift was the first self storage management software provider in the self storage industry to achieve this distinguished status.
The report verifies that the Company’s control objectives and activities surrounding financial transactions meet the standards for internal control over financial reporting developed by the American Institute of Certified Public Accountants (AICPA). Centershift is the only company in its industry to earn this achievement five consecutive years.
“The SSAE 16 audit requires intensive documentation of the company’s process controls and a physical audit by a third-party organization of those controls. An audit must be performed each year for the SSAE 16 Type II report to be issued” stated Terry Bagley, President and CEO of Centershift Inc.
“Having Grant Thornton, an internationally recognized top five public accounting firm perform our SSAE 16 Type II audit shows our customers and potential customers that we take seriously the operational and financial controls within our organization regarding client data integrity and security.” Philip Twede Vice President of Finance and Administration for Centershift also added “this audit helps satisfy the requirements of our largest clients in their compliance with the Sarbanes- Oxley act of 2002.”
About SSAE 16 Type II Report
Statement on Standards for Attestation Engagements (SSAE) No. 16 is an attestation standard put forth by the Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA) that addresses engagements undertaken by a service auditor for reporting on controls at organizations (i.e., service organizations) that provide services to user entities, for which a service organization's controls are likely to be relevant to a user entities internal control over financial reporting. SSAE 16 effectively replaces Statement on Auditing Standards No. 70 (SAS 70) for service auditor's reporting periods ending on or after June 15, 2011. Two (2) types of SSAE 16 reports are to be issued, a Type 1 and a Type 2. This audit demonstrates that a service organization has been through an in-depth audit of their control activities, which generally includes controls over information technology and related processes. A SSAE 16 Type I outlines the procedures, policies and controls that are necessary to ensure effective performance at a single point in time. SSAE 16 Type II is an independent audit of these procedures, policies, and controls to verify and validate that the organization is actually following them over an extended period.
About Centershift Inc.
Centershift is a complete software solution provider to the self storage industry. Based in Salt Lake City, Utah, Centershift is the fastest growing internet-based rental management and point-of-sale software solution provider in the industry. Their clients include two of the four largest self storage REITs, as well as many other small, medium and large ownership and management organizations. Centershift's Store Enterprise and Advantage applications were designed specifically for seamless integration with websites, call centers, web aggregators, iPhones, centralized mail services, corporate offices and other business systems. Centershift's primary goal is to help self storage operators increase revenue, improve efficiencies and reduce costs. For more information, please visit http://www.centershift.com or call (877) 927-4438.