31th August.2016, Gurgaon: PeopleStrong has completed the SSAE 16 (Formerly known SAS 70) assessment successively in a row for third year and been awarded compliant assessment following an intensive, independent review by EY. With this assessment, PeopleStrong continues to be one of the first HR solution and HR Technology Company from India 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 January 2016 till June 2016. 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 & processes are 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. “It is encouraging to complete SSAE 16 assessment successfully for the third time in a row, it shows we are able to meet customer expectations in regards to operational quality, compliance and financial reporting.” said Shelly Singh, Co-founder and Chief Business officer, PeopleStrong.
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.
PeopleStrong is India’s leading human resource (HR) solutions and HR Technology Company, enriching experience of over 175+ corporate customers and over 500,000 users. With the vision to simplify work life, PeopleStrong delivers its technology and services in one offering, using its on-demand technology product PeopleStrong Alt, which has distilled tens of thousands of hours of ‘natural research and development.