SOURCE: Sabrix, Inc.

November 08, 2007 08:07 ET

Sabrix Raises the Bar With SAS 70 Type II Certification

Certification Demonstrates Company's Commitment to Helping Customers Achieve Cost-Effective SOX Compliance

SAN RAMON, CA--(Marketwire - November 8, 2007) - Sabrix®, Inc., the proven experts in transaction tax management solutions for companies of all sizes, today announced that it has successfully completed a SAS 70 Type II audit of Sabrix Tax Research, the company's tax information services division that supports both Sabrix Application Suite and Sabrix Managed Tax Service™ customers.

"With our adoption of SAS 70 standards in 2006, and our recent completion of the Type II audit, Sabrix demonstrates our on-going commitment to SOX-compliant outsourced financial processes," said Carla Yrjanson, director of Sabrix Tax Services. "As the law continues to evolve, Sabrix will remain at the forefront of the changes so that we can continue to help streamline our customers' Sarbanes-Oxley compliance processes and drive down their related costs."

According to current law, Sarbanes-Oxley Section 404 requires companies to validate the controls of third-party service providers if they contribute to the company's financial controls(1). SAS 70 is the internationally recognized third-party-provider auditing standard developed by the American Institute of Certified Public Accountants. To achieve Type II certification, the highest level attainable, a company must complete a Type I audit, and then fulfill another six-month-long requirement which tests the service provider's controls in practice.

Sabrix's Type II audit was completed by Holmes Royer, LLP. Sabrix customers can request a copy of the company's operational processes and methodologies to augment their own SAS 70 documentation.

About Sabrix Tax Research

Sabrix Tax Research is the tax information services division of Sabrix, Inc., which supports both the Sabrix Application Suite and the Sabrix Managed Tax Service™. Sabrix Tax Research provides global rates, product rules, cross-border tax determination, and country and state law changes on a monthly basis that cover 13,184 jurisdictions in the United States and more than 170 countries worldwide. A team of experienced CPAs; tax experts in sales, use, and value-added tax; and legal experts is dedicated to ensuring that the most accurate and current tax rates and rules are available for calculation and determination within both Sabrix offerings for consolidated transaction tax management.

About Sabrix, Inc.

Sabrix®, Inc., the proven experts in transaction tax management solutions for companies of all sizes, enables finance, tax, and IT professionals to achieve accurate, timely, and cost-effective compliance for sales tax, use tax, Value Added Tax (VAT), excise tax and industry-specific taxes and fees. The Sabrix Managed Tax Service provides finance and tax professionals at small- and mid-market companies with a complete, outsourced sales and use tax service which eliminates the hassle, limits audit exposure and reduces the total cost of sales and use tax. Sabrix MTS customers include BankServ, Esker, Metro Door, Power Systems, Stulz Air Technology Systems and Ultra International. The company also offers the Sabrix Application Suite for global enterprises. With customers such as Amazon.com, BASF, Cisco, DTE Energy, IBM, QUALCOMM, Sportsman's Warehouse, and York International, the Sabrix Application Suite seamlessly connects to all financial applications requiring the determination, calculation, and recording of transaction taxes. For more information, please visit www.sabrix.com.

(1) Christopher L. Schellman, "SAS No. 70: Evaluating Service Organizations' Internal Controls is Key to Section 404 Compliance," Florida CPA Today, November 4, 2005.

Sabrix, and Sabrix Managed Tax Service are trademarks of Sabrix, Inc. All other company and product names are trademarks or registered trademarks of their respective holders.

Contact Information

  • For press inquiries:
    Kurt Foeller
    Media Relations for Sabrix
    415-578-3251
    Email Contact