Prince Parker Associates, Inc. (Prince Parker)] has successfully completed a Statement on Standards for Attestation Engagements (“SSAE”) No. 16 Type 1 audit. SSAE 16 replaced the Statement on Auditing Standards No. 70, commonly known as SAS 70. Like the SAS 70, the SSAE 16 is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants. An SSAE 16 audit is performed by an independent auditing firm that examines the controls and processes involved in storing, handling, and transmitting data securely. The successful completion of the voluntary audit illustrates Prince Parker’s ongoing commitment to create and maintain the most stringent controls for the protection and security of its customers’ confidential information. More information about Prince Parker’s Accounts Receivable Services can be found at www.princeparker.com.
The rigorous Type 1 audit, which included detailed testing of Prince Parker Associates controls, was performed by an independent licensed Certified Public Accounting firm that specializes in conducting SSAE 16 audits. The auditor examined Prince Parker Associates controls related to firewall configuration, information security, computer operations, data communication, backup, fire suppression, physical security, and more. Following the audit, Prince Parker received a Service Auditors’ Report with an unqualified opinion, demonstrating Prince Parker Associates policies, procedures and infrastructure for data protection, security and confidentiality met or exceeded the stringent SSAE 16 criteria.
“The successful completion of our SSAE 16 Type 1 audit provides our customers with the assurance that the controls and safeguards we employ to protect and secure their data are first-rate” Jeff Parker President, Prince Parker Associates.
Service organization audits (SSAE 16) have become increasingly important for data-handling service providers since the passage of the Sarbanes-Oxley legislation, which requires a company’s business partners to have adequate internal controls.
Prince Parker’s customers can easily incorporate its Service Auditors’ Report in their Sarbanes-Oxley compliance programs as proof that appropriate controls are in place. The SSAE 16 audit can also help Prince Parker’s customers to comply with other regulations, including HIPAA (Health Insurance Portability and Accountability Act), GLBA (Gramm-Leach-Bliley Act of 1999), and ISO 27001.