LOG-NET, Inc. Successfully Completes SAS-70 Type II Audit

Independent Audit Validates Global Trade and Supply Chain Company's Development, Hosting and Support Operations

Jan 28, 2010, 08:40 ET from LOG-NET, Inc.

RED BANK, N.J., Jan. 28 /PRNewswire/ -- International Supply Chain and Global Logistics Software as a Service (SaaS) firm, LOG-NET, announced today that it has successfully completed its annual Statement of Audit Standards No. 70 (SAS 70) Type II audit.  The SAS 70 certification was developed by the American Institute of Certified Public Accountants (AICPA) to audit and report on the effectiveness of operations and controls, annually. Type II audits review controls that were in place over a period of time, typically six months or more. The independent auditor's opinion deals with the fairness of presentation of the controls, the design of the controls with regard to their ability to meet defined control objectives, and the operational effectiveness of those controls over the defined period.

This audit addressed the design and operational effectiveness of the company's software design and development, change management, physical and logical security, hosting, back-up and recovery, transaction processing and validation controls and procedures.  This level of audit also enables LOG-NET to assist their clients in addressing the control requirements over the processing of financial and operational data as required by Sarbanes-Oxley section 404 (SOX 404).

"We are very proud that this independent audit confirms our ongoing commitment to deliver world class software and services to our customers," noted Jonathan O'Keefe, Chief Technology Officer of LOG-NET, Inc. "While many companies outsource their development and hosting infrastructure, we have elected to own our development, hosting and deployment assets and procedures.   We are in the logistics and global trade business of connecting all of the information pipes of our clients and their trading partners.  Our customers want us to be accountable for our software and infrastructure and not to farm it out. As a result, we are in the best position to avoid delays, mitigate risks and run effective and timely deployments," added John Motley, CEO of LOG-NET, Inc.  

About LOG-NET, Inc.

Founded in 1991, LOG-NET, Inc. of Red Bank, N.J. provides trade, transportation and logistics information systems globally. The company provides international trade and logistics portal capability that enables order management, inventory management, transportation management and compliance on a global end to end (E2E) basis.  For more information, please visit www.LOG-NET.com.

Note to editors: LOG-NET is a registered trademark of LOG-NET, Inc. All trademarks and registered trademarks contained herein remain the property of their respective companies.




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