NEW YORK, July 10, 2012 /PRNewswire/ -- iLevel Solutions, a leading provider of private equity software and reporting solutions, recently announced that as a part of its commitment to security and quality, it has recently completed and obtained a service auditor's review for the Statement on Standards for Attestation Engagements (SSAE) No. 16, commonly known as the Service Organization Controls (SOC 1) examination. This certification, covering iLevel's Portfolio Management Platform and corporate controls, demonstrates iLevel's ability to handle data in a secure, cloud-based environment.
"A critical component in achieving SSAE 16 compliance is an organization's ability to reduce risk and provide clients with controlled security measures," stated Rick Kushel, CEO for iLevel Solutions. "With a growing client base of the world's foremost alternative asset managers, iLevel continues to make security and compliance a top priority."
SSAE 16 is a regulatory standard issued by the American Institute of Certified Public Accountants (AICPA). SSAE 16 replaces the previous SAS70 auditing standard. The control objectives in iLevel's 2012 report addressed each of the following areas:
- Customer Support
- Information and Database Security
- Maintenance and Change Management
- System Availability and Monitoring
"It is iLevel's responsibility to maintain proper controls and procedures that ensure our clients' sensitive data is protected. The SSAE 16 examination certification further validates the design and operational effectiveness of our cloud offerings," said Lokesh Seth, Chief Technology Officer at iLevel. "The successful completion of the SOC 1 examination is a significant part of iLevel's continued commitment to maintain the highest levels of security and availability for our clients, and reinforces our dedication to protecting our clients' environments."
About iLevel Solutions
iLevel Solutions' Portfolio Management Platform is an innovative, highly secure Software-as-a-Service technology solution that automates the collection, storage, collaboration, analysis, and reporting of portfolio data. iLevel provides a seamless platform that integrates all information for GPs and LPs to monitor investments, prepare and report valuations, and exchange information. This comprehensive, end-to-end platform serves as the backbone to completely integrate reporting, analytical tools, and dynamic information sharing, and includes components for Private Equity, Real Estate, Debt, and LP Reporting. Investors in iLevel Solutions include Blackstone (NYSE: BX), The Carlyle Group (NASDAQ: CG), Duff & Phelps (NYSE: DUF), Swift River Investments, and Egis Capital Partners. For more information, please visit www.ilevelsolutions.com.
SOURCE iLevel Solutions