City Financials’ software-as-a-service (SaaS) delivery mechanism for its treasury management system eTC has completed a SAS 70 Type II audit on the operations of its data centres and managed hosting services.
The Statement on Auditing Standards No. 70 (SAS 70) for service organisations is an internationally recognised auditing standard developed by the American Institute of Certified Public Accountants.
City Financials SAS 70 Type II audit provides clients with independent third party validation that the control activities are suitably designed to meet specified control objectives and that they were in place and operating effectively over the audit period.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
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