BeneSys SSAE 16 Type II Audit
BeneSys has recently been audited by an organization evaluating its processes, procedures, systems and staff behavior for compliance with a series of control standards referred to as SSAE 16 (Statement on Standards for Attestation Engagements 16). These standards are generated by a third party organization, The Auditing Standards Board. They are deemed the ‘best practices’ for any service-oriented company’s internal controls of processes, operations and systems.
The control standards cover physical and virtual security, auditing and transparency controls in systems, processes and procedures...as well as overall controls within and for the above domains, among other things.
Additionally the audit process not only documents an organization's controls, but also renders judgments on the effectiveness of such controls in an organization.
For BeneSys the review meant that over a multiple-week period staff, processes, procedures and systems were interviewed, analyzed, observed and questioned. After reviewing the data and information the auditors informed BeneSys that it has passed the Type II audit, with no severe deficiencies.
A Type II audit is more significant than a Type I audit, the difference being the Type II audit renders judgment on the above noted controls over a period of time, not just a point in time.
BeneSys is proud to receive this third party recognition of its dedication to best practices based operations on behalf of its clients and their members.