ProcureStaff Completes SAS 70 Type II Audit


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Sarbanes Oxley : Technology : SAS 70

ProcureStaff Completes SAS 70 Type II Audit

Successful Audit Underscores Financial Transparency and Stability

Charlie Rose
Chief Finance Officer
ProcureStaff

ProcureStaff, Ltd., a leader in global services procurement, has announced the successful completion of a Statement on Auditing Standards (SAS) 70 Type II audit of process controls by an independent, third-party accounting firm.   This is the third consecutive year that ProcureStaff has completed the rigorous audit of their Vendor Management System (VMS) technology.

Companies engaged in the selection of a services procurement solution provider often investigate whether a provider has completed the SAS 70 Type II audit. Successful completion of the audit demonstrates that a service organization has been through an in-depth examination of their control objectives and activities, which often include controls over information technology and related processes. The audit also certifies the effectiveness of a company’s internal control over financial reporting.   “The requirements of Sarbanes-Oxley have underscored the importance of a SAS 70 in determining the effectiveness of the internal controls of a service provider”, says Charlie Rose, ProcureStaff Controller. Rose stressed that customers should be aware of the fiscal well-being of any company they engage to manage their critical business process functions.

“We devote significant time and resources to maintaining the processes and controls that have been so critical to our success and longevity,” said John Campellone, President of ProcureStaff. “The positive findings of this audit reinforce the message we’ve given to the marketplace for over a decade—a service provider’s stability and consistency are paramount when companies outsource technology and business functions. Since our solutions help clients to optimize their internal processes, it is only natural that we demonstrate efficiency and transparency in our own operations."

The SAS 70 audit was conducted by McGladrey & Pullen, one of the nation’s leading CPA firms.

SAS 70 is an auditing standard developed by the American Institute of Certified Public Accountants (AICPA), and is the guidance by which service organizations can disclose their control activities and processes to their customers in a uniform format. A SAS 70 report is often used by customers and customers' external auditors to meet the requirements of section 404 of the Sarbanes-Oxley Act of 2002.

ProcureStaff, Ltd., a subsidiary of Volt Information Sciences, Inc., provides specialized software and services that streamline and manage services procurement. ProcureStaff's solution improves efficiencies in the entire procurement lifecycle, including vendor management, sourcing, spend management and invoicing, reconciliation and payment for enterprise clients.

For additional information go to www.procurestaff.com.

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