Garda World Security Corporation
TSX : GW

Garda World Security Corporation

October 14, 2009 08:00 ET

Garda to Become First Cash Logistics Provider in Compliance With CICA 5970 Accounting Standard

MONTREAL, QUEBEC, CANADA--(Marketwire - Oct. 14, 2009) - Garda World Security Corporation (TSX:GW)(Garda), one of the most trusted cash logistics, physical security and global risk consulting firms in the world, announced today that its subsidiary Garda Cash Logistics is in the final process of achieving compliance with CICA 5970, the Canadian Institute of Chartered Accountants standard for measuring and improving operations and cash logistics management in Canada. In doing so, Garda will become the first cash logistics service provider to be CICA 5970 compliant.

The CICA 5970 standard and its U.S. equivalent, SAS 70, define professional standards to rigorously assess the internal controls of service organizations. These programs have specific requirements for service providers managing customer data and focus heavily in the areas of compliance, security and access.

The CICA 5970 and SAS 70 Type II reports, which Garda will complete by September 2010, provide third party validation of the design, thoroughness and auditability of an organization's controls used in providing services to others.

The audit will be undertaken annually to ensure compliance with the standards set out in the CICA handbook, section 5970 - Audit Reports on Controls at a Service Organization.

"This level of rigorous accounting is important to Garda customers, who represent some of the most successful organizations in the world," notes Garda Chief Financial Officer Patrick Prince. "It provides assurance to our clients that our services and their assets and information are appropriately safeguarded against error, loss or inadvertent disclosure, thus giving them an extra measure of confidence in our operations."

"Because we play such a vital role in supporting the daily operations of our clients, the standards we employ are critical to ensuring that security, technical infrastructure and operational objectives are met at all times," adds Mr. Prince. "We are pleased that even with the expanded scope of this year's audit, once again we will be the first cash logistics provider to achieve a clean report on the first pass thanks to the focus, dedication and quality work of our team."

ABOUT GARDA

Garda (TSX:GW), one of the largest integrated physical security and cash logistics firm worldwide on an annualized revenue basis, is well known for addressing complex security and investigations issues. As a leading provider in security services, Garda is recognized as one of the fastest growing companies with operations across Canada, the United States, Latin America, Europe, the Middle East, Africa, and Asia. With approximately 45,000 dedicated professionals, Garda offers integrated solutions in cash logistics, physical security, global risk consulting and pre-employment screening. Its team includes specialists and some of the most highly qualified and best-trained experts in the industry. For more information, visit: http://www.gardaglobal.com, http://www.gardacashlogistics.com and http://www.garda-world.com.

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