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Secure outsourcing
afb obtains SAS 70 Type I report
afb Application Services AG has successfully completed the SAS 70 Type I auditing process. This confirms that the IT service provider"s internal IT monitoring complies with the global standard. Banks and financial service providers who use the afb solution for their credit and leasing transactions thus minimise their outsourcing risk.
afb compiled extensive documentation of IT processes. These include, among others, the areas of customer service, physical and logical safety, availability, development, change management, testing and backup. COBIT, which sets out a variety of control objectives and monitoring guidelines for processes, provides the framework for afb.
"The implementation of our monitoring system shows that afb imposes strict quality standards on IT operation and services," comments afb Managing Director Jan Ph. Wieners. "The reliability of our systems and processes is our top priority."
afb is aiming to obtain the SAS 70 Type II report in 2009. This regular audit certifies the complete implementation of the monitoring procedures examined in the Type I report over a defined time period of between six and twelve months.
SAS 70 is an auditing standard of the American Institute of Certified Public Accountants (AICPA). It relates to a company"s internal monitoring system and to the correct operation of outsourced service processes. Customers bound to the Sarbanes Oxley Act (SOX) can reduce their own auditing outlay by presenting an SAS 70 report from their service provider.
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