Misys has completed an examination in conformity with Statement on Auditing Standards No. 70 (SAS70), Service Organizations, of its Misys Treasury Plus Confirmation Matching Service for the period 1 October 1 2006 through 30 September 2007.
The examination was performed by accounting and auditing firm Ernst & Young LLP. Statement on Auditing Standards No. 70 was established by the American Institute of Certified Public Accountants (AICPA). A SAS 70 report is intended for a service organization’s management, its clients, and the independent auditors of the client organizations. It provides information and an independent assessment of Misys’ specified controls as they relate to the processing of transactions in connection with audits of financial statements.
The SAS70 report includes the auditor’s opinion, a description of the Misys Treasury Plus control activities related to trade confirmation matching, the control testing performed by Ernst & Young LLP, and the related testing results.
This annual examination provides Misys’ clients and their auditors with an evaluation of the operating effectiveness of the controls in place at Misys related to its Treasury Plus Confirmation Matching Service. The last SAS 70 audit was completed in September 2006.
“With a SAS 70 examination completed, Misys Treasury Plus users will be able to use the report to assist in their assessment of controls relating to the processing of financial data and other sensitive company information, and allow users to perform their assessments more efficiently,” says Hachadur Hashasian, head of Systems & Compliance, Misys Global Managed Services.
Misys Treasury Plus was recently awarded ‘Best Trade Processing Solution 2007′ by the European Banking Technology Readers’ Choice Awards.