DerivActiv, a provider of independent valuations for fixed income, currency and equity derivatives, has completed a Statement of Auditing Standard No. 70 (SAS 70) Type II certification.
“This certification is a more rigorous audit of the SAS 70 processes that we put in place in 2008,” says John Trefethen, chief financial officer of DerivActiv. “DerivActiv customers can feel confident that with the completion of this more rigorous SAS 70 Type II audit, our valuation service and the customer data that we work with are accurate, stable and secure.”
Issued under guidance established by the American Institute of Certified Public Accountants, the SAS 70 report provides assurances regarding specific control and security objectives that DerivActiv has designed. A third party review of a service provider’s security and operational controls, especially when financial data is involved, is becoming increasingly necessary in today’s marketplace. Obtaining the SAS 70 certification demonstrates compliance with the standard of due care for security and risk controls and creates an immediate trust between partners and their auditors.