NeoSystems Earns SAS 70 Certification
Measure Reflects Specialized Accounting Firm’s Ongoing Commitment to High Quality Services and Practices for Government Contractors
Vienna, Virginia – March 2, 2007 – NeoSystems Corp, a specialized accounting and financial services firm that serves government contractors and non-profit organizations, today announced that it has earned SAS 70 Type I Certification through an audit completed by a nationally renowned accounting firm. NeoSystems has earned the highest level opinion attainable, or a “clean opinion.”
“The time and investment that NeoSystems has made to document that we are SAS 70 compliant, reflects our commitment to provide superior service to clients,” said Michael Tinsley, President and Chief Executive Officer of the firm. “Without this audit, many of our clients would have to expend tremendous time, effort and money to document their compliance with the Sarbanes Oxley Act. We will continue to do what is necessary to maintain this distinct, hard-earned accreditation,” said Mr. Tinsley.
The American Institute of Certified Public Accountants Statement on Auditing Standards No. 70 (SAS 70) service auditor’s examination is important because it represents that a service organization has been through an in-depth audit of their control activities, including controls over information technology and related processes. Public companies are especially interested in working with firms that are SAS 70 certified as it helps ensure that they are compliant with the Sarbanes Oxley Act and related regulations from the Securities and Exchange Commission.
The audit found that NeoSystems’ internal controls were suitably designed to meet the control objectives and that such controls were in place as of December 31, 2006. These control objectives included Human Resources, Problem Reporting, Change Management, Data Security, Data Backup and Recovery, and Physical Security.
Based in Vienna, Virginia, NeoSystems Corp. is an employee-owned Managed Service Provider that specializes in accounting and financial management services. It provides full-scope, on-site services to a wide array of publicly held and privately owned government contractors.
Because of its focus and expertise, NeoSystems typically saves clients 30 percent on their accounting costs. As a specialty firm, it is also on top of new accounting rules and regulations pertaining to contractors, helping companies comply with these requirements so they can obtain and keep government business.
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