Property Solutions Successfully Completes SAS 70 Audit
December 7 2010
Property management software company receives approval on essential data security and controls.
(PRWeb) Provo, UT--Property Solutions International, Inc., the largest resource for property management websites and payments, announced that it has successfully completed a Statement on Auditing Standards, No. 70 (SAS 70) Type II audit of its payment security and processing.
SAS 70 is a widely recognized auditing standard, developed by the American Institute of Certified Public Accountants (AICPA). It acts as an authoritative guidance that allows service organizations to disclose their control activities and processes to their customers and their customers' auditors in a uniform reporting format. Property Solutions' successful completion of the audit provides independent verification that it has well designed and effective controls in place to ensure the accuracy of transactions and privacy of the data being stored and transmitted.
"Property Solutions provides online rental applications for prospective residents as well as online portals for apartment renters to pay rent online--both of which handle highly personal information such as credit card numbers, banking information, and social security numbers," said Dave Bateman, CEO of Property Solutions. "Because clients entrust these critical functions to our care, it is very important that we utilize best-in-class procedures to protect their sensitive data. Our successful completion of the SAS 70 Type II audit is an assurance to our clients that we have effective internal controls for important processes in place and that we follow sound data security standards."
Property Solutions plans to be audited on a yearly basis to ensure that internal controls and security continue to be effective. As of June 2011, the SAS 70 audit will be replaced by a new, more rigorous auditing process called the SSAE 16. "For a software company, a successful SAS 70 audit is a great achievement and we look forward to completing the new SSAE 16 audit in a year's time," said Bateman.About Property Solutions
Founded in 2003, Property Solutions International, Inc. is the nation's largest provider of apartment community websites and a leading developer of innovative property management software tools. The company offers a variety of web based solutions for leasing, rent collection, and maintenance request processing. Property Solutions' web portals and electronic payment processing tools offer the advantage of full data integration with most widely-used property management software packages. For more information, go to http://www.propertysolutions.com.