Solix, Inc. Completes Successful SOC 1 Audit
Review of Company's Largest Programs Demonstrates Commitment to Quality & Integrity
PARSIPPANY, N.J., March 8, 2012 /PRNewswire/ -- Solix, Inc., a leading provider of program administration, qualification processing and customer care solutions for government and commercial clients, today announced it has successfully completed its first Service Organization Control One (SOC 1), Type 2 audit. The audit focused on the company's largest service area that supports federal programs dedicated to funding Internet access and telecommunications funding for schools, libraries and rural health care providers. The audit covered the entire year of 2011 and was conducted by a nationally recognized independent auditing firm. The SOC 1 Type 2 audit follows Solix's successful completion last year of a Statement on Auditing Standards No. 70 (SAS 70) Type 2 audit.
"Customers trust us to manage multiple aspects of programs that require complex processes, are highly regulated and demand the utmost quality," said Solix Chief Executive Officer John Parry. "We take the confidence customers have in us very seriously and by proactively pursuing this audit, we can demonstrate our commitment to the quality and integrity of our service."
SOC 1 Type 2 is a widely recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA), which represents that a service organization has been through an in-depth audit of their control objectives and control activities. This audit was conducted in accordance with Statement on Standards for Attestation Engagement (SSAE) No. 16. A successful SOC 1 audit is viewed to meet the strict requirements of Section 404 of the Sarbanes-Oxley Act of 2002 in assuring the effectiveness of internal controls at service organizations.
"The SOC 1 audit on the largest programs we manage, with their rigorous demands and regulatory requirements, was something we elected to do to demonstrate that our transparency and service quality go beyond a pledge and are put into practice," said Solix's President and Chief Operating Officer Jack Miller. "We are committed to the highest standards throughout the company and will continue to demonstrate our commitment to ensuring compliance, transparency and quality for our customers."
In addition to independent audits such as the SOC 1, Solix has an internal control risk assessment process led by the company's Internal Audit Department, which is under the general supervision of the Audit Committee of the Company's Board of Directors.
Solix's process outsourcing services provide complete program administration solutions for government and commercial clients. Customers choose Solix to manage programs with intricate rules-based criteria that are often subject to extensive regulatory guidelines. Eligibility determination and qualification processing, integrity assurance, customer care, and funds collection/disbursement are among the company's portfolio of services. Solix's Grant Management Solutions offer clients, including public and private foundations, peer reviews, process planning, program management and evaluation reporting.
Solix, Inc. is a process outsourcing firm serving government and commercial clients. We provide complete solutions for program administration, with an emphasis on eligibility determination, funds distribution, grant administration, managerial reporting, and compliance reviews. Solix-managed programs include Internet and telecommunications infrastructure grant administration for schools, libraries, and rural health care providers; low-income telephone and electric service discount certification and verification; and support services for the physically impaired. Solix offers peer-review and grant program administration services, with a focus on high-technology research, economic development projects, and social services interventions. The company also offers integrated marketing support services such as Live Agent Teleservices, Click-to-Chat, Automated Interactive Voice Services, and Fulfillment management. Learn more about Solix at www.solixinc.com.
Media Contact: Gene King
SOURCE Solix, Inc.
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