Fund administration company Quintillion has completed its SAS 70 Type II independent service auditor’s report.
The certification was completed by accounting and audit firm Deloitte and Touche and provides verification of independent review and rigorous testing of Quintillion’s internal control environment.
The report includes testing on a broad range of internal controls including client boarding, transaction processing, cash and position reconciliations, valuations, NAV calculation, investor services, reporting, performance fee processing, data access, systems security, IT change management and data backup.
SAS 70 allows service providers to disclose their control activities and processes to their customers and their customer’s auditors in a uniform reporting format.
Linda Gorman, chief operating office of Quintillion, says: “The successful completion of the SAS 70 certification shows Quintillion’s commitment to the highest industry standards. There is an increased demand amongst our clients and institutional investors for a SAS 70 Type II certification, and we are delighted that our control environment and technology has withstood review with no exceptions. Quintillion is committed to continuing to provide top-tier servicing to our clients and their investors.”
