Global fund administrator HedgeServ has successfully completed an independent SOC 1 examination of its middle office, back office, and fund administration controls. The SOC 1 examination certification was completed by a Big Four audit firm, in compliance with SSAE 16 (formerly SAS 70 Type II) and ISAE 3402 Type II.
The HedgeServ SOC 1 covers the period from 1 October, 2010 to 30 September, 2011 and covers an extensive scope of relevant controls for operational, accounting, and technology processes that auditors can rely on.
"HedgeServ is committed to its leadership in the advancement of fund administration and best practices related to operational controls. HedgeServ complements our SOC 1 by sharing an open technology platform with our clients," says Justin Nadler, President of HedgeServ. "This means fund managers have full real-time views says the entire operational lifecycle of their trades, regardless of asset class, including trade capture, reconciliation of cash and positions, and complete portfolio valuations – throughout the NAV calculation process. The HedgeServ SOC 1 also extends to the core technology processes underpinning our fund administration services."
