Misys (FTSE: MSY.L), the global application software and services company, today announces that it has recently completed separate examinations in conformity with the AICPA's Statement on Auditing Standards No. 70 (SAS70), Service Organizations, covering both its Misys Confirmation Matching Service and Misys Opics Plus software-as-a-service (SaaS) offerings.
The SAS70 examinations were performed by the independent accounting and auditing firm Ernst & Young LLP.
Completion of the SAS 70 Type II examinations indicates that selected Misys processes, procedures and controls have been formally evaluated and tested by an independent accounting and auditing firm. The examinations included controls related to logical access to systems, programs and data; change management; processing controls; environmental controls and physical security.
A SAS 70 examination is widely recognised, because it represents that a service organisation has been through an evaluation of their control activities as they relate to an audit of the financial statements of its customers. A Type II report not only includes the service organisation's description of controls, but also includes detailed testing of the design and operating effectiveness of that service organisation's controls.
Hach Hashasian, Sr. Director of SaaS Operations & Compliance at Misys Treasury Capital Markets, elaborates: "Having completed these two SAS 70 examinations, Misys Confirmation Matching Services and Opics Plus customers and their respective auditors will be able to use the reports to assess the internal controls at Misys as they relate to an audit of their financial statements. They allow user organisations' managements to obtain assurance on the design and operating effectiveness of the controls at Misys in a cost-effective manner. The Type II compliance provides our customers with cost savings while also reinforcing the value of the people, processes and technology that are at the heart of Misys' business model."
Misys is committed to providing high quality, best practice operations in its expanded Software-as-a-Service delivery and undertaking annual SAS70 exams is, in part, evidence of that commitment.