Misys, the global software and solutions company, announced today that it has completed an examination in conformity with Statement on Auditing Standards No. 70 (SAS70), Service Organizations, of its Misys Treasury Plus Confirmation Matching Service for the period October 1, 2006 through September 30, 2007.
The examination was performed by accounting and auditing firm Ernst & Young LLP. Statement on Auditing Standards No. 70 was established by the American Institute of Certified Public Accountants (AICPA). A SAS 70 report is intended for a service organization's management, its clients, and the independent auditors of the client organizations. It provides information and an independent assessment of Misys' specified controls as they relate to the processing of transactions in connection with audits of financial statements.
The SAS70 report includes the auditor's opinion, a description of the Misys Treasury Plus control activities related to trade confirmation matching, the control testing performed by Ernst & Young LLP, and the related testing results. The SAS70 serves as a value-added tool for Misys' clients to assist in fulfilling their responsibilities to assess controls, and enables clients to perform such assessments in a more cost-effective manner.
This annual examination provides Misys' clients and their auditors with an evaluation of the operating effectiveness of the controls in place at Misys related to its Treasury Plus Confirmation Matching Service. Misys' commitment to having a third party examination performed is an integral part of its overall commitment to providing quality service to its clients. The last SAS 70 audit was completed in September 2006.
Hachadur Hashasian, Head of Systems & Compliance at Misys Global Managed Services, elaborates: "With a SAS 70 examination completed, Misys Treasury Plus users will be able to use the report to assist in their assessment of controls relating to the processing of financial data and other sensitive company information, and, allow users to perform their assessments more efficiently."
Misys Treasury & Capital Markets has 17 years of market experience and unrivalled software development expertise. It creates integrated, comprehensive solutions for financial institutions to manage their capital marke market activities across multiple asset classes.