SOURCE: IQ BackOffice

November 06, 2007 11:30 ET

IQ BackOffice Receives Coveted SAS 70 Type II Certification for the Third Consecutive Year

Clients Able to Reduce Operating Costs and Audit Fees, While Ensuring Compliance With Sarbanes-Oxley Requirements

LOS ANGELES, CA--(Marketwire - November 6, 2007) - IQ BackOffice, a leading provider of accounts payable services, today announced that they have earned the Statement on Auditing Standard Number 70 (SAS 70) Type II certification for the third consecutive year. The certification -- developed by the American Institute of Certified Public Accountants -- is given to outsourced service providers that, through their services, impact the financial statements of public and private companies. The certification acknowledges the high quality and effectiveness of IQ BackOffice's internal controls created using best practices in business process management, information technology and security.

"Because IQ BackOffice is SAS 70 compliant, I am assured that the services they provide us have been reviewed and tested to meet the highest internal control standards available," said B. Brian Martin, CFO of Innovative Dining Group. "In addition, my auditors can use the SAS 70 audit report instead of having to audit the entire accounts payable process, saving me time and money."

"SAS 70 Type II audit is the most rigorous audit a firm such as ours can undertake, assuring our clients that our services provide a level of quality, timeliness and control far beyond what was in place before they partnered with us," said David Schnitt, President of IQ BackOffice. "The SAS 70 Type II certification is an absolute necessity for any public company working with a service provider."

A six-month vigorous process, companies must pass an in-depth audit and test by an independent firm before receiving SAS 70 Type II certification. IQ BackOffice's five-sigma quality, best practice processes and state-of-the-art technology helped it pass the audit with ease.

About IQ BackOffice

A division of R.C. Baral & Co., IQ BackOffice is headquartered in Southern California, and is a known innovator in the finance & accounting outsourcing industry. With more than a quarter of a century of service to over 60 widely recognized clients in the restaurant/foodservice, manufacturing, distribution, financial services and publishing markets, clients typically reduce costs by 20% to 50% annually.

SAS 70 Type II compliant, IQ BackOffice keeps up-to-date on the latest government-mandated regulations and delivers a complete solution that includes both technology and finance-specific domain expertise aimed at keeping clients in complete control, while significantly reducing operating costs. For more information, visit www.iqbackoffice.com.

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