OATI Fulfills SOC 1 Examination Standards for Fourteenth Consecutive Year
MINNEAPOLIS (PRWEB) December 30, 2019 -- OATI is pleased to announce the successful completion of the Type 2 Service Organization Controls (SOC) 1 Attestation issued under the Statement on Standards for Attestation Engagements No. 18 (SSAE 18) for 2019 — our fourteenth consecutive success in externally auditing OATI’s controls and processes for a service organization.
Issued by the American Institute of Certified Public Accountants (AICPA), the Type 2 SOC 1 Report evaluates the description of a service organization’s system and the operating effectiveness of the controls to meet the objectives in the description — particularly user entities’ control over financial reporting. During the period of October 01, 2018 — September 30, 2019, a service auditor evaluated OATI’s system description and determined the design and operating effectiveness of our controls were sufficient in meeting the objectives established in the description.
“Consistently adhering to rigorous industry compliance standards has brought us to where we are today,” said OATI President and CEO, Dr. Sasan Mokhtari. “OATI remains a trusted name in the energy industry because of our commitment to providing transparency to our customers.”
About OATI
OATI (http://www.oati.com) is the leading provider of advanced solutions to streamline and empower today’s energy commerce and Smart Grid. Since pioneering Software-as-a-Service (SaaS) in 1995, OATI delivers innovative Distribution, Electric Vehicle Management, Energy Trading/Risk Management, Transmission Scheduling, Gas Trading/Pipeline Management, and Grid and Market Management solutions.
Working alongside utilities, their customers, and providers, OATI successfully designs, implements, deploys, and hosts mission-critical solutions committed to industry standards and stringent security guidelines, Transforming the Business of Energy. OATI is headquartered in Minneapolis, Minnesota, with offices in California, Punjab, Telangana, and Singapore. For more information, please contact [email protected].
Jerry Dempsey, OATI, https://www.oati.com/, 763.201.2000, [email protected]
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