First Global Payroll Company to Achieve SSAE 16 Compliance
Date: October 10 2011
The AICPA (Auditing Standards Board of the American Institute of Certified Public Accountants) published this new Attestation Standard, SSAE 16 (Statement on Standards for Attestation Engagement) to supersede the existing guidance, SAS 70.
SSAE 16 was drafted with the intention and purpose of updating the U.S. service organization reporting standard so that it mirrors and complies with the new international standard, ISAE 3402, as put forth by the International Auditing and Assurance Standards Board (IAASB)– a standard-setting board of the International Federation of Accountants (IFAC).
The new SSAE 16 standard is intended to replace an aging SAS 70 standard with one that keeps pace with the growing push towards more globally accepted international accounting standards and SGWI is the first global payroll provider to earn this status.
SGWI's global service centers passed the audits with no "control objective failures" and no "control activity failures," and are now officially compliant with the auditing standard SSAE 16.
Bjorn Reynolds, Founder and CEO of SGWI commented, "Our clients rely on us to manage the payroll for thousands of employees who are working around the world. We know how critical it is to manage their information accurately, consistently and securely. We take that role very seriously. To achieve compliance ('clean opinion') with no non-conformances across our operations is a testament to the accuracy of our processes and our teams' commitment to our customers."
SGWI is also certified by Safe Harbor, a process developed by the U.S. Department of Commerce in consultation with the European Commission, which helps U.S. companies comply with the EU Directives that relate to protection of personal data. These certifications demonstrate SGWI's dedication to protecting and safeguarding client's sensitive information.
For additional information about the SSAE 16 auditing standard, please visit www.ssae16.com.
About SafeGuard World International – http://www.safeguardworld.com
SafeGuard World International (SGWI) provides Global Payroll and Global Employment Outsourcing solutions to clients such as FedEx®, Dow Jones, SkypeTM and P&O Ferries. Operating in over 100 countries, SGWI supports companies of all sizes, with small or large employee populations, in mature and emerging international markets. For more information, call Chris Draeger at 1 (919) 672 7028 or visit http://www.safeguardworld.com.