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Given the sensitivity of board materials, it's essential that companies insist their vendors provide auditable compliance of all their security processes.
Menlo Park, CA (November 29, 2006) — Today BoardVantage announced that it has successfully passed an independent review of its service, commonly known as SAS70 Type II. The audit was performed in October 2006 by SAS70 Solutions, a nationally recognized independent audit firm.
The 2006 audit addressed a range of aspects including the following: Physical Security, System Operations, Information Security, Application Development and Maintenance, Data Communications, and Application Controls.
Mr. Drew Osborne, BoardVantage Chief Security Officer commented, "As hosted applications become more common, it is critical that customers are able to verify that vendors are fully compliant with all applicable controls. Achieving level II compliance is a significant accomplishment and unusual outside of financial institutions. However we believe it is important to provide third party confirmation to our customers that all relevant aspects of BoardVantage operations are professionally and securely managed."
"Many hosted software companies make no attempt to audit their processes, but in the board portal market a higher standard applies. Given the sensitivity of board materials, it's essential that companies insist their vendors provide auditable compliance of all their security processes" said Joe Ruck, President and CEO of BoardVantage.
SAS 70 is an acronym for the American Institute of Certified Public Accountants (AICPA) Statement on Auditing Standard (SAS) No. 70, titled "Reports on the Processing of Transactions by Service Organizations". SAS No. 70 defines the professional standards used by a service auditor to assess the internal controls of a service organization and issue a service auditor's report. Two levels of compliance exist, Level I and Level II. Level II is the highest and most rigorous level because it emphasizes effectiveness of implementation of the existing controls over time.
BoardVantage is the leading provider of secure board portals, with 175 customers — including over 20 Fortune 100 companies. BoardVantage provides a secure and user-friendly Web portal for centralizing board documents, processes and communications. It also provides productivity tools for creating and distributing board materials efficiently. BoardVantage is SAS 70 Type II certified, and meets or exceeds the standards of the most security conscious IT departments, including those of major financial institutions. To learn more, visit www.boardvantage.com.
Maria Krinsky
KickStart Consulting, for BoardVantage
415-509-0498
pr@boardvantage.com
