Minneapolis, MN (PRWEB) January 11, 2017
OATI is pleased to announce the successful completion of its eleventh consecutive Type II Service Organization Controls (SOC) 1 Report. The report measures compliance with both the Statement on Standards for Attestation Engagements No. 16 (SSAE 16) and the International Standard on Assurance Engagements No. 3402 (ISAE 3402) during the audit period spanning from October 01, 2015, to September 30, 2016.
The Type II SOC 1 Report examines Controls at a Service Organization, which are relevant to user entities’ internal control of financial reporting. The report conducted by Schellman & Company, LLC (Schellman) evaluated the efficiency of OATI processes and controls and its adherence to the stringent North American Electric Reliability Corporation (NERC) Critical Infrastructure Protection (CIP) requirements. OATI controls align with the standards established by the American Institute of Certified Public Accountants (AICPA), according to the report’s findings.
OATI completes voluntary yearly audits to ensure compliance with the latest industry standards. During this audit period, OATI added new controls in response to the NERC CIP v5 standards that were mandated as of July 01, 2016. Each set of standards and requirements ensure cooperation in business processes, controls, and both cyber and physical security.
“OATI strives to stay up to date on NERC CIP standards,” said Dr. Sasan Mokhtari, President and CEO of OATI. “We are committed to providing our customers with the best controls and processes available.”
OATI provides innovative software solutions that simplify, streamline, and empower the operational tasks required in today’s energy commerce and SmartGrid. With more than 1,600 customers in North America, OATI successfully deploys large, complicated, and diverse mission-critical applications committed to industry standards and stringent NERC CIP guidelines.
OATI (http://www.oati.com) is a leading provider of SmartGrid, Energy Trading and Risk Management, Transmission Scheduling, Congestion Management, and Market Management products and services. OATI is headquartered in Minneapolis, Minnesota, with an office in Redwood City, California. For more information, please contact sales(at)oati(dot)net.