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ProfitLine Successfully Completes SAS 70 Type II Audit
--ProfitLine Helps Clients Succeed in Complying with Sarbanes-Oxley--
Tuesday, March 22, 2005 — SAN DIEGO, CA. – March 22, 2005 – ProfitLine, the premier provider of outsourced telecom expense management services, today announced that it has successfully completed a Statement on Auditing Standards (SAS) 70 Type II examination and achieved certification from a nationally recognized public accounting firm. This widely recognized audit standard will help ProfitLine's clients and their auditors to address the requirements of Sarbanes-Oxley.
The SAS 70 is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants to measure the reliability of a service organization's internal processes and controls. SAS 70 Type II validation is widely valued because it demonstrates that the organization has been through a rigorous, in-depth audit of its control activities by an independent accounting and auditing firm. The Type II audit is much more stringent than Type I, because this audit includes detailed testing of the service organization's controls. By undergoing the SAS 70 Type II audit, an organization can provide its clients with a comprehensive audit report that discloses the controls and processes in place, along with assurances that the services clients receive are secure and disciplined.
"For public companies that are outsourcing a key function such as TEM to a service provider, proof of compliance is mandatory," said Rick Valencia, ProfitLine's chairman and chief executive officer. "With the successful completion of this thorough audit, ProfitLine's clients can rest assured that our processes meet or exceed the highest standards for processing, protecting and securing their information. The SAS 70 Type II helps affirm that ProfitLine provides a consistent, reliable and secure environment to support its clients."
SAS 70 has become a pre-requisite for public companies doing business with service organizations as part of the external auditor's expectations for compliance with Section 404 of the Sarbanes-Oxley Act. A SAS 70 Type II examination shows that an organization has had certain defined and agreed upon internal control objectives and control activities examined by an independent accounting and auditing firm. At the conclusion of a SAS 70 examination, a formal report ("Service Auditor's Report") is delivered to the service organization. ProfitLine is one of only a select few Telecom Expense Management (TEM) vendors to offer this level of SAS 70 Type II certification assurance to its clients.
About ProfitLine
ProfitLine's outsourced solution streamlines telecom expense management for Fortune 1000 companies. By combining a best practices approach with proven technology, clients can easily manage the entire telecom lifecycle process through ProfitLine's intelligent, scalable Web application, MyTelcoManager, which provides unmatched functionality and ease of use. With a laser focus on containing and driving down telecom costs, ProfitLine's team of seasoned telecom experts increases telecom savings and reduces hassles for the company's prestigious client base.
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--ProfitLine Helps Clients Succeed in Complying with Sarbanes-Oxley--
Tuesday, March 22, 2005 — SAN DIEGO, CA. – March 22, 2005 – ProfitLine, the premier provider of outsourced telecom expense management services, today announced that it has successfully completed a Statement on Auditing Standards (SAS) 70 Type II examination and achieved certification from a nationally recognized public accounting firm. This widely recognized audit standard will help ProfitLine's clients and their auditors to address the requirements of Sarbanes-Oxley.
The SAS 70 is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants to measure the reliability of a service organization's internal processes and controls. SAS 70 Type II validation is widely valued because it demonstrates that the organization has been through a rigorous, in-depth audit of its control activities by an independent accounting and auditing firm. The Type II audit is much more stringent than Type I, because this audit includes detailed testing of the service organization's controls. By undergoing the SAS 70 Type II audit, an organization can provide its clients with a comprehensive audit report that discloses the controls and processes in place, along with assurances that the services clients receive are secure and disciplined.
"For public companies that are outsourcing a key function such as TEM to a service provider, proof of compliance is mandatory," said Rick Valencia, ProfitLine's chairman and chief executive officer. "With the successful completion of this thorough audit, ProfitLine's clients can rest assured that our processes meet or exceed the highest standards for processing, protecting and securing their information. The SAS 70 Type II helps affirm that ProfitLine provides a consistent, reliable and secure environment to support its clients."
SAS 70 has become a pre-requisite for public companies doing business with service organizations as part of the external auditor's expectations for compliance with Section 404 of the Sarbanes-Oxley Act. A SAS 70 Type II examination shows that an organization has had certain defined and agreed upon internal control objectives and control activities examined by an independent accounting and auditing firm. At the conclusion of a SAS 70 examination, a formal report ("Service Auditor's Report") is delivered to the service organization. ProfitLine is one of only a select few Telecom Expense Management (TEM) vendors to offer this level of SAS 70 Type II certification assurance to its clients.
About ProfitLine
ProfitLine's outsourced solution streamlines telecom expense management for Fortune 1000 companies. By combining a best practices approach with proven technology, clients can easily manage the entire telecom lifecycle process through ProfitLine's intelligent, scalable Web application, MyTelcoManager, which provides unmatched functionality and ease of use. With a laser focus on containing and driving down telecom costs, ProfitLine's team of seasoned telecom experts increases telecom savings and reduces hassles for the company's prestigious client base.
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