GREENSBORO, N.C., March 11, 2011 /PRNewswire/ -- Stanley, Hunt, DuPree & Rhine (SHDR), a BB&T Corporation (NYSE: BBT) benefits consulting firm, received an unqualified SAS 70 Type II audit opinion for 2010. The audit process involves a rigorous review of SHDR's transaction processing and technology controls to process client transactions.
"The SAS 70 Type II audit is a meticulous approach to examining our processes and validates that SHDR has the proper safeguards and controls to consistently process client transactions completely and accurately," said Phillip Floyd, president, Stanley, Hunt, DuPree & Rhine. "The audit results reflect our continued commitment to excellence and the high standard of service quality that we provide our clients."
An independent auditing firm, PricewaterhouseCoopers, audits SHDR internal controls on an annual basis to validate the effectiveness of its safeguards and controls for its flexible spending accounts (FSA) and health reimbursement arrangements (HRA) services. SAS 70 Type II is an international auditing standard developed by the American Institute of Certified Public Accountants (AICPA).
About Stanley, Hunt, DuPree & Rhine
Stanley, Hunt, DuPree & Rhine is an employee benefits consulting firm and a division of BB&T. SHDR provides a wide range of consulting and administrative services, including actuarial, investment advisory, ESOP administration, nonqualified, HRAs, FSAs (healthcare/dependent care), Health Savings Accounts (HSA), COBRA administration services, and premium billing arrangements.
BB&T Corporation (NYSE: BBT) is one of the largest financial services holding companies in the U.S. with more than $157.1 billion in assets and market capitalization of $18.3 billion, as of Dec. 31, 2010. Based in Winston-Salem, N.C., the company operates approximately 1,800 financial centers in 12 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by J.D. Power and Associates, the U.S. Small Business Administration, Greenwich Associates and others. More information about BB&T and its full line of products and services is available at www.BBT.com.
SOURCE BB&T Corporation