Move Ensures Highest Internal Control Standards
Online PR News – 10-June-2011 – – Sunnyvale, CA —Nair & Co., a global integrated solutions provider helping companies with international expansion plans, today announced that it is compliant with the Statement on Standards for Attestation Engagements (SSAE) No. 16.
SSAE 16 is the new assurance standard, which replaces the previous leading standard for guidance regarding assurance reports for service organizations, SAS70, and is effective for periods on or after June 15, 2011.
“Nair & Co.’s accounting and support teams’ operations come under the purview of SSAE 16 statement on controls. Compliance with SSAE 16 provides optimal assurance to our clients that their data are protected by the most current international industry standards and that controls over financial reporting are designed and operated effectively throughout the year, as put forth by the American Institute of Certified Public Accountants (AICPA),” said Jody Fullman, Vice President of Technology & Internal Audit at Nair & Co.
"As a SSAE 16 compliant service provider, clients can rely on sound internal controls over their financial reporting data while also making it easier for their own auditors to plan financial statements," added Maggie Pratten, Head of Internal Audit at Nair & Co.
The SSAE 16 is an “attest” standard, falling under the attestation framework, as opposed to the “auditing” framework of the SAS 70 standard.
By design, SSAE 16 is closely aligned with the previously released global standard ISAE 3402 (Assurance Reports on Controls at a Service Organization) and, according to the AICPA, the differences between the two standards are minimal as a result of efforts to converge the U.S. standard with the international one.
“Nair & Co. is compliant at each of its key processing centres in India, China and U.K. We have been proactive in preparing and adapting to this change. The move underscores Nair & Co.’s effort to be ahead of the curve in adopting international best practices and ensuring our clients get the best, most efficient and most secure service delivery processes,” said Dr. Shan Nair, Co-Founder & CEO at Nair & Co.
Nair & Co.’s innovative and unique solutions are built to scale to new operations, incorporate changes in policy and/or strategy. The company’s team of experts provides consultancy services in Human Capital Consulting, Tax Consulting, International Accounts Payable, International Accounts Compliance, Tax Compliance, and Corporate Governance across the globe.
About Nair & Co.
Nair & Co. provides an integrated solution in the HR, finance, tax, compliance and legal arenas making a company’s overseas operations less risky, stress free and more strategic. It currently has 740+ client operations in over 50 countries with offices in U.K., India, China, U.S., Japan and Singapore. Nair & Co. was named among the top 100 outsourcing services providers in the world by the International Association of Outsourcing Professionals (IAOP).
Learn more at http://www.nair-co.com
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