Company’s internal controls meet stringent review process and security standards for the second consecutive year Twelve months after completing a SAS 70 Type I audit of its document processing and online-statement presentment (e-presentment) controls, Santa Ana-based FSSI has received an unqualified opinion by an independent auditor as a result of its first SAS 70 Type II audit. The achievement is significant, as the company produces and delivers statements, bills and letters (printed and electronic) that demand high levels of data security, accountability and regulatory compliance.
Type I versus Type II
SAS 70 is an acronym for the American Institute of Certified Public Accountants (AICPA) Statement on Auditing Standard (SAS) No. 70, which defines the professional standards that service auditors use to assess a company’s internal controls and to publish their findings. Type I audits reflect views about controls that are in place as of a specific date, and include auditor observations and opinions about the controls’ design, fairness of presentation, and ability to meet clearly defined objectives. Type II audits are more comprehensive and include detailed testing of controls’ operational effectiveness over the defined audit period. Third parties prefer Type II reports because of the sustained verification period.
Financial institutions, for whom security, regulatory compliance and timely deliveries are paramount, appreciate and benefit most from SAS 70 audits. “Clients depend on FSSI to safeguard their data. We requested this audit to show the comprehensive process controls we have in place and to demonstrate our commitment to a high level of security,” says FSSI president Jennifer Dietz, who leads the company’s data-security efforts.
“We believe these assurances provide compelling business reasons for companies seeking outsourcing to seriously consider FSSI. Whether they want compliance letter processing or custom statement design, FSSI has the solutions, coupled with our quality processes and secure environment.”
About FSSIFSSI is a WBE-certified document outsourcing company that helps businesses maximize their impact and strategic value through highly-customizable print-mail and digital communication solutions. Serving the financial, insurance, healthcare and other regulated industries, FSSI is well-versed in the security and data practices necessary to handle confidential customer information and remain compliant. Learn more about FSSI's capabilities by visiting fssi-ca.com. For business opportunities, please contact Executive Vice President of Business Development Dan Palmquist at 714.436.3300 or .