MT. LAUREL, NJ--(Marketwired - Aug 20, 2014) - PayChoice, the leader in payroll, HR, and Time & Attendance solutions to small and mid-sized businesses, announced that it successfully completed two annual SSAE 16 (SOC 1) Type II Audits. Overall, the audits tested the suitability of the design and operating effectiveness of business process controls on the Payroll Processing Service Bureau System, IT Control System, and IT Support System.
Last year, PayChoice passed the annual SSAE 16 (SOC 1) audits for its PayChoice and ENCORE platforms. ENCORE is the latest release of next generation, cloud-based payroll and reporting platform.
"By successfully completing these two SSAE 16 Type II Audits we are sending a strong message to our customers and licensees that we are committed to all best practices when it comes to operational effectiveness," says Robert Digby, CEO of PayChoice. "A successful completion of these audits further demonstrates our commitment to compliance and data security." The Type II audit tested the security, availability, integrity, confidentiality and privacy controls for the company's payroll/HR services.
SSAE 16 is the acronym for the American Institute of Certified Public Accountants (AICPA) Statement on Standards for Attestation Engagements (SSAE) No. 16. SSAE 16 defines the professional standards used by a service auditor to assess the effectiveness of internal controls of a service organization and their consistent operation over a period of time. SSAE 16 is the new standard that supersedes the previous SAS 70 standard.
Robert Digby further states "As we announced last year, PayChoice is proud to be one of the few SaaS companies in the payroll industry to complete a SSAE 16 Type II audit, assuring our service bureau customers and licensee clients that they can count on us to use best practices in everything that is done for them."
The audits covered the period June 1, 2013 to May 31st, 2014. The results provides PayChoice's service bureau customers, licensees, and their auditors with a level of assurance regarding the control environment, risk assessment activities, control activities, communication systems, and monitoring activities that PayChoice maintains in its technology production environment.
About SSAE 16, Type II Audits
SSAE 16 officially replaced the now obsolete SAS 70 in June 2011. The key differences between SAS 70 and SSAE 16, Type II are that the SSAE 16 aligns the United States service organization reporting standards with the International Standard for Engagement, ISAE 3402. There is also the addition of a management assertion section within the audit report regarding design and operating effectiveness. Additionally, the SSAE 16 Type II requires tracking changes to controls, documentation on what changes are made and who approves them.
The SSAE 16 has two varieties: Type I or Type II. PayChoice's Type II report is more comprehensive as it provides assurance that the hosted payroll platforms and PayChoice systems operated with both internal control design proficiency and operational effectiveness over a defined period of time. The Type I report only measures for a point in time and does not provide assurance on operational effectiveness over a period of time.
For more than 20 years, PayChoice has helped small- and medium-sized businesses (SMB) succeed by providing them a Fortune 500-style suite of payroll and HR services that frees the owner to focus on growing and managing their business.
The PayChoice suite of services includes payroll, tax filing, HR data management, time & attendance, workers' compensation and other employee management services and solutions. Because PayChoice delivers these services directly to SMBs through an intensely personal approach, our client satisfaction and retention are among the highest in the industry.
PayChoice is also the market leader in licensing payroll / HR software, and over 200 payroll / HR vendors nationally employ PayChoice's technology as the core of their service offering. All of PayChoice's applications are hosted in PayChoice's state-of-the-art private cloud infrastructure and delivered via a SaaS model. In total, PayChoice technology is used to meet the payroll and HR needs of over 150,000 businesses and nearly 2 million employees nationwide.
For more information, please visit www.paychoice.com or call 888.591.5151.