|By Business Wire||
|September 23, 2013 06:00 AM EDT||
Broadscope Fund Administrators, announced it successfully completed an independent examination of its fund administration system for processing user entities transactions — Service Organization Control (SOC 1) Type 1 Report, in accordance with Statement on Standards for Attestation Engagements No. 16 – SSAE 16 (formerly SAS 70). A major international accounting firm examined the design of Broadscope’s controls as of May 31, 2013. Broadscope plans to complete the initial annual certification of its control environment — Service Organization Control (SOC 1) Type II Report — for the period ending November 30, 2013.
“We are very pleased to have completed the initial examination of our documented controls,” added Kevin O’Neill, Founder & Managing Member. “Our controls are strong and form the basis for accurate, timely completion of each business workflow.”
Broadscope’s service and control environment was developed and delivered in adherence with established industry best practices. For Broadscope’s clients, the SOC 1 report provides confidence that Broadscope has adequately described, in all material respects, its controls and that such controls are suitably designed and operating effectively to achieve their specified objectives.
For more information, please visit www.BroadscopeFA.com.
About Broadscope Fund Administrators
Broadscope® is a full-service fund administrator providing accounting, reporting and administrative services to private equity fund managers. Broadscope’s mission is to deliver a premium service model based on direct access to senior management, robust quality controls and innovative technology. The Company’s founders and senior employees have significant industry-specific experience and knowledge of a broad range of private equity fund types and structures. Broadscope prides itself on the experience of its senior team, which forms the basis of its personalized service offering.