Our participation in the Type 2 SOC 1 review is a best practice PeopleStrategy follows each year to assure our prospects and clients of the integrity of our internal processes.
Atlanta, GA (PRWEB) November 30, 2015
A leading Software-as-a-Service (SaaS) provider of end-to-end Human Capital Management (HCM) solutions for mid-market employers, PeopleStrategy, Inc.® understands the importance of compliance with rigorous operating standards. As part of its ongoing commitment to meeting and maintaining these standards, PeopleStrategy has successfully completed a Type 2 SSAE 16/SOC 1 examination of its integrated Payroll, Human Resource, and Benefit Outsourcing Application Software and Tax Filing System for the period of October 1, 2014, to September 30, 2015. The examination was conducted by an independent CPA firm, BrightLine CPAs and Associates, Inc. No exceptions were found.
“Our participation in the Type 2 SOC 1 review is a best practice PeopleStrategy follows each year to assure our prospects and clients of the integrity of our internal processes,” stated David Fiacco, President and COO for PeopleStrategy. “Given our strong year-over-year growth in 2015 coupled with the ever-increasing opportunities ahead in 2016 and beyond, our successful completion of the Type 2 SOC 1 examination allows us to provide prospective and existing clients additional confirmation that our company, solutions, processes and people can stand up to the strict scrutiny and standards of this important audit.”
The Statement on Standards for Attestation Engagements # 16 (SSAE 16), also known as the Service Organization Controls Report # 1 (SOC 1), was formerly known as the Statement on Auditing Standards # 70 (SAS 70). Through actions of the Auditing Standards Board of the American Institute of Certified Public Accountants, SSAE 16 superseded the SAS 70 audit standard in mid-2011. It is the adopted version of the International Standards for Assurance Engagements (ISAE) No. 3402, Assurance Reports on Controls at a Service Organization, for use in the United States.
To ensure that it remains in compliance with the standards promulgated by these governing bodies, PeopleStrategy regularly engages auditors to conduct SSAE 16/SOC 1 examinations in which the auditor tests internal controls and processes over a period of time—in this case, October 1, 2014, to September 30, 2015 —to verify that the internal controls and processes are actually occurring as the service organization intends, and that the controls were in place during the audit period. The key operational components that were reviewed in the recent examination included PeopleStrategy’s financial management, risk management, operational management controls, information security, and other procedures considered necessary to establish an opinion about the design of PeopleStrategy’s controls.
About PeopleStrategy, Inc.
PeopleStrategy is a leading provider of enterprise Cloud-based HCM solutions that enable employers to more effectively manage their Talent Acquisition, HCM, Payroll, Benefits, Workforce Management and Performance Management processes. PeopleStrategy’s eHCM™ solution suite empowers the entire organization through self-service and mobile access, reducing administrative costs and providing more time to focus on a company’s people strategy. What’s your people strategy? Learn more at http://www.peoplestrategy.com.