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Singapore, Aug 17 2016: DataTracks announces successful completion of International Standard on Assurance Engagements (ISAE) No. 3402 Type II SOC 1 audit. The audit, done by a leading audit firm, assessed DataTracks and measured the effectiveness of controls in the processing of financial reports.
ISAE 3402 is a widely recognized auditing standard, providing companies with a framework for exhibiting effective internal controls for financial reporting, among others. The standard includes various facets of internal control mechanisms, including their design, operations, maintenance and updates. ISAE 3402 standard was developed by IAASB (International Auditing and Assurance Standards Board) which oversees the audited organizations’ compliance to guidelines.
A Type II audit report establishes the service organizations’ ability to maintain their control procedures over a considerable period of time. While a SSAE 16 audit report issued by AICPA (American Institute of Certified Public Accountants) is accepted in US, most other countries rely on ISAE 3402 (International Standard on Assurance Engagements) report issued by IAASB (International Auditing and Assurance Standards Board)
DataTracks was audited on the following areas:
“By successfully completing the ISAE 3402 audit, our commitment to data integrity and our mission to provide a highly secure data environment for our existing and prospective customers has been reiterated”, said Mr Srinivasulu Hasti, Chief Technology Officer. “The core aspect of any IT security is to promote a holistic security model that comprises Confidentiality, Integrity & Availability (CIA) and we are just doing that”, he added.
About DataTracks: DataTracks US is part of DataTracks Services Limited, leaders worldwide in preparation of financial statements in XBRL and iXBRL formats for filing with regulators. DataTracks prepares more than 12,000 XBRL statements annually for filing with regulators such as SEC in the United States, HMRC in the United Kingdom, Revenue in Ireland, ACRA in Singapore and MCA in India.
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