PR - Ontario Systems Receives Unqualified SAS 70 Type 2 Audit Opinion

Debt collection software provider Ontario Systems recently received an unqualified SAS 70 Type 2 Audit Opinion with no exceptions. During the rigorous audit process, auditors from BKD Technologies tested Ontario Systems’ processes, procedures, security initiatives, policy compliance and general business operations.

An unqualified SAS 70 Type 2 opinion means that an independent auditor has determined an organization has suitably designed, appropriate procedures and control objectives placed in operation and they were effective during the review period. Receiving an ‘unqualified’ opinion for a SAS 70 Type 2 review is the highest possible designation. Unqualified opinions indicate that each of the control objectives specified by the service organization were met without any significant exception or deficiency. This differentiates Ontario Systems from many competitors and allows its clients to demonstrate their technology provider’s security, procedures and controls.

Ontario Systems clients who need copies of the auditor’s report should contact Lisa Ellis, Ontario Systems’ administrative assistant, at 765.751.7069. Ontario Systems is based in Muncie, Ind.

“We recognize the trust our clients place in Ontario Systems and honor that trust with appropriate business controls and secure handling of their data,” said Ron Fauquher, Ontario Systems’ senior vice president of production control. “We are pleased that our processes have been validated by an independent source, and we will continually seek to improve them.” 

SAS 70 (the Statement on Auditing Standards No. 70) defines the standards an auditor must employ in order to assess the contracted internal controls of a service organization. The SAS 70 was developed by the American Institute of Certified Public Accountants (AICPA) as a simplification of a set of criteria for auditing standards originally defined in 1988. Under SAS 70, auditor reports are classified as either Type 1 or Type 2. In a Type 1 report, the auditor evaluates the efforts of a service organization to prevent accounting inconsistencies, errors, and misrepresentation, and the likelihood that those efforts will produce the desired future results. A Type 2 report includes the same information as that contained in a Type 1 report and, in addition, the auditor attempts to determine the extent to which agreed-on controls have been operating effectively between the time they were implemented and the present.