Minneapolis, Minnesota (PRWEB) January 07, 2015
OATI proudly announces the successful completion of its ninth consecutive Type II Service Organization Controls (SOC) 1 Report in accordance with both the Statement on Standards for Attestation Engagements No. 16 (SSAE 16) and the International Standard on Assurance Engagements No. 3402 (ISAE 3402). This past examination period also featured a notably significant change, as it was expanded from six months to an entire year, spanning October 01, 2013 to September 30, 2014.
The Type II SOC 1 Report (formerly known as SAS 70) examines Controls at a Service Organization, which are relevant to user entities’ internal control of financial reporting. The report conducted by Schellman and Company, LLC (Schellman) evaluated OATI processes and controls efficiency and its adherence to the strict North American Electric Reliability Corporation (NERC) Critical Infrastructure Protection (CIP) requirements. The report concluded that OATI controls were complete, accurate and in agreement with the principles established by the American Institute of Certified Public Accountants (AICPA).
“OATI consistently reaches the precise NERC CIP standards,” said Dr. Sasan Mokhtari, President and CEO of OATI. “We are committed to providing the most robust controls and processes in support of our customers.”
OATI provides innovative software solutions that simplify, streamline, and empower the operational tasks required in today’s energy commerce and Smart Grid. With more than 1,400 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 Smart Grid, 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.