PORTIA Updates its SSAE 16 Type 2 Audit

June 20, 2012

SS&C PORTIA is pleased to announce that it recently completed its SSAE 16 Type 2 examination for a variety of its outsourcing solutions.

SSAE 16, Reporting on Controls at a Service Organization, is an attestation standard that establishes the requirements and guidance for reporting on controls at a service organization relevant to user entities’ internal control over financial reporting.

PORTIA’s processes, procedures and controls were formally evaluated and tested by an independent CPA. The examinations included assessing and testing controls related to logical access to systems, programs and data, change management, processing controls, environmental controls and physical security.

SSAE 16 Type 2 reports not only include the service organization’s description of controls, but also include detailed testing of the design and operating effectiveness of that service organization’s controls.  Successful completion of a SSAE 16 Type 2 review proves that a service organization meets independent and rigorous operational standards. PORTIA provides these audit results to its outsourcing clients on a regular basis.

SS&C PORTIA is committed to providing high quality, best practice outsourcing solutions to support the middle-to-back office operations of investment managers.  A  SSAE 16 Type 2 review is one of the many tools PORTIA uses to ensure that its solutions remain best in class.

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