CoAdvantage Successfully Completes a SAS 70 Audit.ORLANDO, Fla. -- CoAdvantage, a leading provider of end-to-end Human Resource Outsourcing (HRO HRO Housing Referral Office HRO Rostock (Germany, auto license plate) HRO Human Resources Outsourcing HRO Hogeschool Rotterdam (The Netherlands) HRO Human Resources Office HRO Ham Radio Outlet ) services, announced today that it has recently completed a service auditor's review, commonly known as a SAS (1) (SAS Institute Inc., Cary, NC, www.sas.com) A software company that specializes in data warehousing and decision support software based on the SAS System. Founded in 1976, SAS is one of the world's largest privately held software companies. See SAS System. 70 Audit, confirming the confidence that hundreds of clients have already instilled in CoAdvantage's controls related to transactional processing. The SAS 70 Audit was completed by an independent third party, verifying CoAdvantage's physical security, computer operations, information security, data communication, and a commitment to integrity and ethical standards in HR policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental and organizational oversight. Following this thorough examination, the auditing firm was able to issue an unqualified opinion Unqualified opinion An independent auditor's opinion that a company's financial statements comply with accepted accounting procedures. Antithesis of qualified opinion. unqualified opinion See clean opinion. regarding each of the areas described above. "Obtaining our SAS 70 certification further demonstrates CoAdvantage's sincere and continuous efforts to improve our internal controls and provide quality service to our clients," said CoAdvantage Chief Executive Officer, Dayne Williams. SAS 70 is an acronym for the American Institute of Certified Public Accountants With over 330,525 CPA members (in August 2006), the American Institute of Certified Public Accountants (AICPA) is the largest professional organization of Certified Public Accountants (CPAs) in the United States of America. (AICPA AICPA See American Institute of Certified Public Accountants (AICPA). ) Statement on Auditing Standard (SAS) No. 70, titled "Reports on the Processing of Transactions by Service Organizations." SAS No. 70 defines the professional standards used by a service auditor to assess the internal controls of a service organization and issue a service auditor's report Auditor's Report Recorded in the annual report, the auditor's report tests to see that a corporation's financial statements comply with GAAP. This is sometimes referred to as the clean opinion. Notes: Most auditor's reports consist of three paragraphs. . About CoAdvantage CoAdvantage delivers comprehensive Human Resource Outsourcing (HRO) solutions through a combination of adaptable, scaleable human resource tools, an industry-leading web portal and our dedicated Client Service Center. Recognized for three years as an Inc. 500 Fastest Growing Company, CoAdvantage is a full-service provider of tailored HRO solutions for dynamic small and mid-sized companies. CoAdvantage enhances the business impact of the HR function using expertise, innovation and practical business insight. CoAdvantage's solutions actively build, sustain, and transform companies--keeping pace with business needs across all stages of growth. For more information, please visit www.coadvantage.com. |
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