OATI Successfully Completes SAS 70 Type II Audit
Open Access Technology International, Inc. (OATI) has successfully completed a SAS (Statement on Auditing Standards) No. 70 Type II audit for the fifth consecutive year, dating back to the year OATI started undergoing annual Type II audits.
Minneapolis, MN (Vocus) December 1, 2010
Open Access Technology International, Inc. (OATI) has successfully completed a SAS (Statement on Auditing Standards) No. 70 Type II audit for the fifth consecutive year, dating back to the year OATI started undergoing annual Type II audits. The high level of assurance provided by the audit helps to instill confidence in OATI systems which are used on a daily basis throughout the energy industry.
The independent firm McGladrey & Pullen, LLP (McGladrey) conducted a comprehensive evaluation of the effectiveness of OATI processes and controls, which included the North American Electric Reliability Corporation (NERC) Critical Infrastructure Protection (CIP) requirements. McGladrey found that OATI controls were complete, accurate, and in accordance with the standards established by the American Institute of Certified Public Accountants (AICPA). SAS 70 Type II audits are accepted under the Sarbanes-Oxley Act for demonstrating compliance by a service organization.
“I am particularly pleased with this year’s unqualified audit opinion because it covers a full and rigorous audit of OATI’s voluntary compliance with NERC’s CIP requirements,” said Sasan Mokhtari, President & CEO. “OATI has a strong culture of security that strives to exceed customer expectations in protecting their vital business information in the use of world-class software applications hosted by OATI.”
OATI (http://www.oati.com) provides state-of-the-art Energy Trading and Risk Management, Transmission Scheduling, Congestion Management; Compliance, Smart Grid and Settlement Systems for the energy industry. OATI webTrader, webTrans, webSmartEnergy, webCompliance, and webTag product lines provide the tools for generation, trading, and transmission companies for seamless participation across energy markets. OATI serves in excess of 700 client companies in the energy industry in North America.
For additional information regarding this news release please contact sales(at)oati(dot)net.
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Open Access Technology International, Inc.
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