PARAMUS, N.J., Feb. 19, 2014 /PRNewswire/ -- Broadscope Fund Administrators, an independent private equity fund administration firm, announced it successfully completed an independent examination of its fund administration system for processing user entities transactions – Service Organization Control (SOC 1) Type II Report, in accordance with Statement on Standards for Attestation Engagements No. 16 – SSAE 16 (formerly SAS 70). A major international accounting firm examined the design and operational effectiveness of Broadscope's controls for the period ended November 30, 2013.
"We are very pleased to have completed the SSAE 16 Type II examination of our documented controls," added Kevin O'Neill, Founding Member. "Our controls are strong and form the basis for accurate and timely completion of our clients' business workflows. The completion of our Type II examination provides added comfort to our clients regarding the operational effectiveness of our documented control procedures."
Broadscope's service and control environment was developed and delivered in adherence with established industry best practices. For Broadscope's clients, the SOC 1 report provides an additional level of confidence that Broadscope has adequately described, in all material respects, its controls and that such controls are suitably designed and operating effectively to achieve their specified objectives.
For more information, please visit: www.BroadscopeFA.com
About Broadscope Fund Administrators
Broadscope employs a high touch, boutique style model to provide full-service administration to private equity fund managers. Broadscope provides a superior service based on direct access to senior management, robust quality controls and innovative technology. The Company's founders and senior employees have significant industry-specific experience and knowledge of a broad range of private equity fund types and structures, which forms the basis of Broadscope's personalized service offering.
SOURCE Broadscope Fund Administrators