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RadiusPoint has completed
the SAS 70 Audit which certifies we have passed
rigorous, third-party testing and have a secure
environment with processes and controls in place that
effectively allow us to host and exchange corporate data
and financial information for our enterprise customers.
Publicly traded companies use SAS 70 audits as
proof of compliance with Sarbanes-Oxley's Section 404
requirements for outsourced services. The audit is
imperative for the healthcare, insurance and financial
services industry customers who must comply with
regulations under the Health Insurance Portability and
Accountability Act (HIPAA) of 1996 and the Financial
Modernization Act of 1999.
About SAS 70
SAS 70, an international auditing standard developed by
the American Institute of Certified Public Accounts (AICPA),
is recognized by the U.S. Securities and Exchange
Commission (SEC) as an acceptable method for management
at publicly-traded companies to obtain assertions about
service organization controls without conducting
separate audits.
The Process
To gain SAS 70 compliance, an independent Certified
Public Accountant evaluates the controls that are
relevant to a customer's internal audit controls for its
financial statements. The audit evaluated controls in
development/set-up, invoice processing, exception
reporting, cash management, general ledger interface and
user control. Without a SAS 70 audit, many customers
would have to expend tremendous resources to document
their compliance with the Sarbanes-Oxley Act. The SAS 70
audit provides our customers with significant
cost savings while also reinforcing the value of the
people, processes and technology that helps make
RadiusPoint the premier TEM/UEM partner.
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