CACEIS Fastnet has performed a SAS 70 certification Type I for its fund administration services in Paris. This auditing standard demonstrates to the regulator, clients and auditors that requirements in terms of control, quality and compliance discipline keep assets secure.
This approach involves draf-ting of a best practice code for Fund Administration Services and strengthens CACEIS Fastnet's commitment to its clients. The audit was carried out by the CACEIS Risk Management department and involved the processing teams and Deloitte in order to document the control effectiveness and to create a SAS 70 Report.
This process is part of a constant service quality improvement scheme. It is the first step towards the issuance of a SAS 70 Report Type II, planned for the second half of 2007, to provide assu-rance that the identified controls are operating effectively.