Florham Park, NJ — February 9, 2011 – Unicorn HRO, an industry leader in benefits, payroll and HR solutions, today announced the company has successfully completed a SAS 70 Type II audit. A SAS 70 Type II audit validates a service provider’s controls and safeguards when hosting or processing customer data through independent examination.
Successful completion of the SAS 70 Type II audit is critical as it provides customers and their auditors with the assurance that appropriate internal control objectives related to the services delivered were achieved and operating effectively during the review period (typically six months). Unicorn HRO used the firm of ParenteBeard LLC (www.parentebeard.com) to complete the audit.
“This accomplishment affirms Unicorn HRO’s commitment to providing customers with the highest industry standards for payroll processing. Unicorn HRO will continue to provide internal control assurances to our customers, particularly those who must comply with Sarbanes-Oxley regulations, so that they know their information is safe and secure,” said Ed Gettings, UHRO’s SVP of Product Development and Operations.
The Sarbanes-Oxley Act of 2002 required publicly held companies to submit proof that their service providers have measures in place to ensure a secure and stable environment for their data. SAS 70 (Statement on Auditing Standards No. 70) is the leading audit standard for evaluation of internal control at service organizations across industries. The SAS No. 70 is widely recognized across industries as it represents that a service provider has been through an in-depth audit of their control objectives and activities including controls over information technology. It was developed by the American Institute of Certified Professional Accountants (AICPA).
The SAS 70 audit provides customers with assurance that claims of redundant systems for power, network connectivity, fire suppression and security are accurate. The SAS 70 audit also ensures that documentation of procedures for preventative maintenance are both adequate and in place. Unicorn HRO successfully demonstrated that it has better-than-adequate controls and safeguards in place for hosted customer data, transaction processing and their IT infrastructure overall.
