SOX News

OB10 Awarded SAS 70 TYPE II and NIST Certificate

(July 30, 2008)-- OB10, operator of the global e-Invoicing network, has successfully completed the SAS 70 Type II audit for controls operated across all geographical regions. The Statement on Auditing Standards (SAS) No. 70 is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants. The report, carried out by independent auditors from PwC, allows OB10 to disclose its control activities and processes to its customers and auditors.

An SAS 70 audit or service auditor's examination demonstrates that a service organization has been through an independent assessment of the organization’s control activities, which generally include controls over information technology and related processes. A Type II service auditor’s report includes the service auditor's opinion on the fairness of the presentation of the service organization’s description of controls that had been placed in operation. Furthermore, it also includes the service auditor's opinion on whether the specific controls were operating effectively during the period under review.

OB10 customers in all territories benefit from the importance SAS70 has in association with the Sarbanes-Oxley Act (SOX). SOX heightened the focus placed on understanding the controls over financial reporting and identified a Type II SAS 70 report as the principal method for a third party to assure a service organization's controls. OB10’s SAS 70 Type II report therefore assists companies that use the OB10 network to optimize their supply chain to fulfill the requirements of SOX .

In addition, OB10 has recently received a system security certification that meets the Special Publications 800-18 and 800-30 respectively of the National Institute of Standards and Technology (NIST).

Jamie Gunn, CEO of OB10, said, “We are delighted to have been awarded both these certificates, which give us the ability to convey the validity of our controls. They demonstrate our commitment to best practice and show our clients that our controls reach high standards of security and reliability.”

For more information, please visit www.ob10.com.

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