PeopleStrong Completes SSAE 16 Assessment For Third Time In A Row (2014-16)
02 September 2016, Gurugram: PeopleStrong has completed the SSAE 16(Formerly known SAS 70) assessment successively in a row for third year and been awarded compliant assessment following an intensive and independent review by EY. With this assessment, PeopleStrong continues to be one of the first HR solution and HR technology company from India to be successfully assessed on SSAE16.
SSAE 16 represents an adoption of globally accepted accounting principles and EY, one of the largest professional services providers in the world, carried out the SOC1 examination under SSAE16 issued by the American Institute of Certified Public Accountants (AICPA) for the period January 2016 till June 2016. The sample processes were audited across service verticals along with information system, data security, and governance related controls.
SSAE 16 is the new attestation standard put forth by the Auditing Standards Board (ASB) of the AICPA. The SOC1 (SSAE16 Type II) audit is widely recognized for the intensive scrutiny it puts service organizations through, in terms of their control activities related to information technology and related processes. It provides customers with guaranteed security and reliability for their systems.
Various controls related to logical access, physical security, back-up recovery, and secure data storage, among others are checked to ensure that all the right governance and compliance practices and processes are followed by the internal stakeholders. As an MPHRO (multi process human resource outsourcing) and HR technology provider, PeopleStrong holds critical information belonging to clients and the SSAE16 assessment provides its clients the opinion of a third party on operating effectiveness of controls. “It is encouraging to complete SSAE 16 assessment successfully for the third time in a row, it shows we are able to meet customer expectations in regards to operational quality, compliance, and financial reporting.” said Shelly Singh, Co-founder and chief business officer, PeopleStrong.