I.C. System Completes SAS 70 Type II Audit

I.C. System announced today it has successfully completed a SAS 70 Type II audit. Developed by the American Institute of Certified Public Accountants (AICPA), a SAS (Statement on Auditing Standards) 70 audit provides an in-depth audit of internal control activities, including controls over information tech-nology and related processes. The requirements of Section 404 of the Sarbanes-Oxley Act of 2002 make a SAS 70 audit even more significant in the process of reporting on effective internal controls within service organizations.

“Accounts receivable management service providers need to demonstrate that they have adequate controls and safeguards in place when they host or process data belonging to their clients,” said Kurt Heinbigner, I.C. System’s CFO. “Our completion of a SAS 70 Type II audit demonstrates a clear commitment to this objective. It is crucial in today?s business environment that our clients know that their transactions are processed in a secure manner and quality reviewed with proper internal controls.”

I.C. System’s SAS 70 Type II audit was conducted by McGladrey & Pullen LLP. The audit required six months of rigorous testing which indicates controls are in place and properly being followed. SAS 70 Type II audits require annual testing and are more comprehensive than SAS 70 Type I audits, which are limited to reporting on an organization’s controls at one moment in time.

Additional Data Security Achievements I.C. System assists clients in their compliance efforts concerning the Healthcare Insurance Portability and Accountability Act and the Gramm-Leach Bliley Act since the agency has:

• Completed an ISO 17799 Assessment. The assessment covers 11 major areas, including: Business Continuity Planning, System Access Control, System Development & Maintenance, and Physical & Environmental Security.

• Completed audits to be a Certified Agency through ACA’s Professional Practices Management System (PPMS) program. Certification recognizes ethically responsible and legally compliant agencies.

• Completed a Payment Card Industry (PCI) audit for companies that accept and store credit card information.

About I.C. System
I.C. System, a privately owned company founded in 1938, provides accounts receivable management services for 30,000 clients nationwide. The company services clients in several industries, including financial services, telco/utility, healthcare, consumer retail, and commercial. Headquartered in St. Paul, I.C. System has offices in Iowa, Florida, North Dakota, and Arizona. For more information about I.C. System, visit www.icsystem.com or call (800) 443-4123.