PHOENIX, Aug. 29, 2014 /PRNewswire/ -- BillingTree® has today announced that it has completed its examination in conformity with Statement on Standards for Attestation Engagements (SSAE) No. 16, Reporting on Controls at a Service Organization for the period May 1, 2013 through April 30, 2014 that was performed by an independent auditing firm.
Completion of the SSAE 16 Type II examination indicates that BillingTree processes, procedures and controls have been formally evaluated and tested by an independent accounting and auditing firm. The examination included the company's controls related to: Physical Security, Computer Operations – Availability, Information Security, Application Development Maintenance and Documentation, Data Communication, Client Setup and Maintenance, Transaction Processing and Transaction Reporting.
SSAE 16 is designated by the U.S. Securities and Exchange Commission (SEC) as an acceptable method for a user entity's management to obtain assurance about service organization internal controls without conducting additional assessments. In addition, the requirements of Section 404 of the Sarbanes-Oxley Act of 2002 make SSAE 16 reports even more important to the process of reporting on effective internal controls by public companies.
A SSAE 16 examination is widely recognized, because it represents that a service organization has been through an evaluation of their control activities as they relate to an audit of the financial statements of its customers. A Type II report not only includes the service organization's system description, but also includes detailed testing of the design and operating effectiveness of the service organization's controls.
"At BillingTree, we are committed to providing our customers and partners with the highest level of assurance that their critical data is being stored in a secure location that employs stringent internal business processes, IT control and security," commented Richard Knowles, VP of Operations and Finance at BillingTree. "BillingTree's dedication to ensuring our payment solutions are compliant and secure has again been documented, reviewed and audited by an independent third party, which has shown our controlled environment to be robust, transparent and consistent."
BillingTree's mission has centered around assisting companies with growing their business by delivering cost-effective, compliant payment solutions that increase and accelerate collections. Committed to and serving the accounts receivable industry for over a decade, BillingTree is the industry leader in the breadth of integrations with core collection platform systems and payment technologies, and in payment compliance. At BillingTree – Your Growth is Our Business. For more information, visit www.mybillingtree.com or call 877.4.BILLTREE.
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