Orbit UK managed services underpinned by internationally recognised auditing and reporting standards
Our partner GXS recently announced that it has achieved both Statement on Standards for Attestation Engagements (SSAE) No. 16 Type II and International Standard on Assurance Engagements (ISAE) No. 3402 for its Trading Grid suite of applications.
The Trading Grid applications are what we have built our Managed Gateway for Insurance (MGI), Managed Messaging Service (MMS) and Managed Business eXchange (MBX) offerings on, so it is good news for our customers as well.
Assessed by auditors from Deloitte & Touche LLP over a period of several months, these accomplishments demonstrate GXS’s focus on operational excellence and shows that GXS is committed to meeting the highest industry standards for internal controls.
GXS’s operating controls are designed to meet SSAE 16 and ISAE 3402 standards and assure Orbit UK Managed Service customers of not just the security and reliability of all of its operations but provide additional ease in completing their own internal and third party audits.
Independent assessment of internal controls
Developed by the Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA), SSAE 16 replaces Statement on Auditing Standards No. 70, Service Organisations (SAS 70) as the professional standard for service organisations to obtain an independent assessment about the effectiveness of internal controls that are relevant to their customer’s financial statement audits.
As part of the SSAE 16 assurance process, GXS management provided written assertion that:
- Its description of the service organisation’s system fairly presents the system
- The controls related to the control objectives were suitably designed, inclusive of considering the risks that threaten the achievement of the control objectives
- The controls related to the control objectives operated effectively throughout the period (Type II)
Additionally, the company has achieved ISAE 3402 assurance, providing an international assurance standard for allowing public accountants to issue a report for use by user organisations and their auditors on the controls at a service organisation that are likely to impact or be a part of the user organisation’s system of internal control over financial reporting.
The original article can be read here.