08.Dec.2014 Gurgaon: PeopleStrong, a leading Platform based HR solutions company, headquartered at Gurgaon, has announced the completion of SSAE 16 assessment successively is a row in last three years. This assessment was the result of an intensive, independent audit by EY (previously known as Ernst & Young), a provider of assurance, tax, transaction and advisory services. With this audit, PeopleStrong continues to be one of the first platform based MPHRO (Multi-process HR Outsourcing) solution provider to be successfully assessed on SSAE16.
SSAE 16 represents an adoption of globally accepted accounting principles and EY, one of the largest professional services providers in the world, carried out the SOC1 examination under SSAE16 issued by the American Institute of Certified Public Accountants (AICPA) for the period February 2014 till July 2014. The sample processes were audited across service verticals along with Information system, Data security and Governance related controls.
SSAE 16 is the new attestation standard put forth by the Auditing Standards Board (ASB) of the AICPA. The SOC1 (SSAE16 Type II) audit is widely recognized for the intensive scrutiny it puts service organizations through, in terms of their control activities related to information technology and related processes. It provides customers with guaranteed security and reliability for their systems.
Various controls related to logical access, physical security, back-up recovery, secure data storage, etc. are checked to ensure that all the right Governance and compliance practices & processesare followed by the internal stakeholders. As an MPHRO and HR technology provider, PeopleStrong holds critical information belonging to clients and the SSAE16 assessment provides its clients the opinion of a third party on operating effectiveness of controls. “The successful completion of the SSAE 16 assessment is a testimony to PeopleStrong’s commitment of exceeding the customer expectations in regards to operational quality, compliance and financial reporting. Being successfully assessed in a row for last three years enables us to ensure effective governance at all levels”, said Shelly Singh, Co-founder and Chief Business officer, PeopleStrong. About PeopleStrong:
PeopleStrong is a leading platform-based mpHRO (Multi-process HR Outsourcing) and technology company, headquartered at Gurgaon, India. It specializes in HR shared services, recruitment process outsourcing (RPO), payroll & compliance management, and cloud-based HR technology solutions. Since its establishment in 2005, the company has built a unique combination of domain expertise, operational excellence, and innovative technology to deliver optimum level of services to its customers. Through its platform-based HR solutions, PeopleStrong facilitates the customers to achieve higher gain margins, efficient business functions, increased productivity levels, better return on investment (ROI), and ‘happier employees’. PeopleStrong has clients across diverse industry sectors. The company is one of the first platform-based integrated HRO/RPO companies in India to be successfully assessed on Statement on Standards for Attestation Engagements (SSAE) No. 16 for reporting on controls by Auditing Standards Board of the American Institute of Certified Public Accountants.
About SSAE 16
SSAE 16 represents an adoption of globally accepted accounting principles. SSAE 16 Type I and Type II reports under the SOC 1 reporting framework represent an effort by the AICPA to ‘report on controls’ related to financial matters. SSAE 16 Type I and Type II reports are for service organizations that are undertaking activities and procedures that have the potential to directly impact a client’s financials.