On June 22, 2010, Geographic Solutions, Inc. successfully completed a SAS 70 audit, receiving a clean auditor’s opinion with no qualifications. According to the SAS 70 website, Statement on Auditing Standards (SAS) No. 70, Service Organizations, is a widely recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA). A service auditor's examination performed in accordance with SAS No. 70 (also commonly referred to as a "SAS 70 Audit") is widely recognized, because it represents that a service organization has been through an in-depth audit of their control objectives and control activities, which often include controls over information technology and related processes. In today's global economy, service organizations or service providers must demonstrate that they have adequate controls and safeguards when they host or process data belonging to their customers.
SAS No. 70 is the authoritative guidance that allows service organizations to disclose their control activities and processes to their customers and their customers' auditors in a uniform reporting format. The issuance of a service auditor's report prepared in accordance with SAS No. 70 signifies that a service organization has had its control objectives and control activities examined by an independent accounting and auditing firm. The service auditor's report, which includes the service auditor's opinion, is issued to the service organization at the conclusion of a SAS 70 examination.
SAS No. 70 guidance enables an independent auditor ("service auditor") to issue an opinion on a service organization's description of controls through a Service Auditor's Report. SAS 70 does not specify a pre-determined set of control objectives or control activities that service organizations must achieve. Service auditors are required to follow the AICPA's standards for fieldwork, quality control, and reporting.
Service organizations receive significant benefits and value from having a SAS 70 audit performed. A Service Auditor's Report with an unqualified opinion that is issued by an Independent Accounting Firm differentiates the service organization from its peers by demonstrating the establishment of effectively designed control objectives and control activities. A Service Auditor's Report also helps a service organization build trust with its user organizations (i.e., customers).
For more information on SAS 70 Audit information and standards, visit http://sas70.com/index.html.
Geographic Solutions is a privately-owned company with corporate offices located in Palm Harbor, Florida. For over 17 years the company has specialized in providing innovative employment and training solutions to state and local workforce development agencies. Virtual OneStop® is the leading operating system in the workforce development industry. The system is utilized by fifteen states and nearly 20 local regions throughout the country. For more information on Geographic Solutions, Inc. and Virtual OneStop®, visit www.geographicsolutions.com.