NEW YORK, October 17, 2016 /PRNewswire/ --
DataTracks announces successful completion of Statement on Standards for Attestation Engagements (SSAE) 16 Type II SOC 1 audit. The audit, done by a leading audit firm, assessed DataTracks' Disclosure Management System (DMS) and measured the effectiveness of controls in the processing of financial reports.
SSAE 16 is a widely recognized auditing standard, providing companies with a framework for exhibiting effective internal controls for financial reporting, among others. The standard includes various facets of internal control mechanisms, including their design, operations, maintenance and updates. SSAE 16 standard was developed by AICPA (American Institute of Certified Public Accountants) which oversees the audited organizations' compliance to guidelines.
A Type II audit report establishes the service organizations' ability to maintain their control procedures over a considerable period of time.
DataTracks was audited on the following areas:
- Suitability of design and operating effectiveness of controls to ensure precise financial reporting
- Risks related to design for effective operation of controls to achieve expected output
- Operating effectiveness of controls that were considered necessary to provide reasonable assurance to ensure applications' data security and integrity
"By successfully completing the SSAE 16 audit, our commitment to data integrity and our mission to provide a highly secure data environment for our existing and prospective customers has been reiterated," said Mr. Srinivasulu Hasti, Chief Technology Officer. "The core aspect of any IT security is to promote a holistic security model that comprises Confidentiality, Integrity & Availability (CIA) and we are just doing that," he added.
The DataTracks SEC Filing solution is a single-source multi-output (EDGAR HTML and XBRL) reporting solution. The software is cloud-based and offers a robust environment to ensure high-integrity data linking across Content, HTML and XBRL layers. The solution is capable of integrating with the General Ledger (and other data sources) of the company to fetch data on to the HTML and XBRL layers. This feature curtails the repetitive task of populating numbers separately in DMS for every reporting period. For more information or to schedule a software demonstration, call 1800-937-9280.
DataTracks US is part of DataTracks Services Limited, leaders worldwide in the preparation of financial statements in XBRL and iXBRL formats for filing with regulators. DataTracks prepares more than 12,000 XBRL statements annually for filing with regulators such as the SEC in the United States, HMRC in the United Kingdom, Revenue in Ireland, Euro filing compliance reports in Europe, ACRA in Singapore and MCA in India.
SOURCE DataTracks Services Limited