Andesa Services, Inc., a leading provider of comprehensive, integrated policy administration, plan administration and support solutions for life insurance and annuity carriers and producers, today announced that it has completed its annual SSAE 16 examination.
The independent third-party examination, conducted by a certified public accountant (CPA) firm, provides assurance to Andesa clients that the company’s business process and information technology controls were suitably designed and operated effectively for the period covering Oct. 1, 2013 through Sept. 30, 2014.
The American Institute of Certified Public Accountants (AICPA) publishes the attestation standard – Statement on Standards for Attestation Engagements (SSAE) No. 16 – which is guidance for performing an examination of a service organization’s controls and processes. A CPA firm utilizes SSAE 16 guidance to deliver a Service Organization Controls 1 (SOC 1) Report, which is a report on controls at a service organization that are relevant to user entities’ internal control over financial reporting.
The SSAE 16 Type II report provides a thorough examination of the design and operating effectiveness of Andesa’s internal controls as they relate to the financial reporting of user organizations. Its scope covers relevant aspects of the control environment, including computer and data center operations, business transaction processing, physical and environmental security, network security, logical access, the software development lifecycle, and change management controls.
“As a firm, we have invested significant resources in creating controls, protocols and contingencies that ensure the integrity of our systems and the sensitive financial information with which we are trusted,” said Mark Wilkin, Andesa Services Chief Financial Officer. “Our latest SSAE 16 SOC 1 Type II examination affirms the efficacy of our efforts as a service organization and provides confidence to our clients that our solutions’ value will be consistently delivered.”
About Andesa Services
Andesa Services provides comprehensive, integrated policy administration, plan administration and support solutions for life insurance and annuity carriers and producers. Andesa began as a pioneer in the field of SaaS policy administration. Today, more than 30 years later, we provide seven of the top 13 life and annuity carriers and several top brokers with a comprehensive suite of services backed by decades of proven, practical expertise in the life insurance industry. Andesa’s highly experienced team of U.S.-based professionals is made up of devoted client advocates who help insurers large and small save time, reduce risk and tap unrealized value.