1-aug-2008  |  FOR IMMEDIATE RELEASE  

 

The Network Inc. Completes SAS 70 Type II Audit - Extensive Evaluation Validates Company's Internal Controls

Norcross, GA – August 1, 2008

The Network Inc., the leading provider of ethics and compliance hotline programs for over 25 years, today announced the completion of the Statement on Auditing Standards No. 70 (SAS 70) Type II audit by independent firm Porter, Keadle and Moore (PKM). The review states that The Network, Inc. is SAS 70 Type II compliant as of July, 2008.

SAS 70 compliance is an internationally recognized standard developed by the American Institute of Certified Public Accountants (AICPA). The Network achieved SAS 70 Type I certification in November 2006 to validate that the company has implemented controls that are suitably designed to achieve the specified control objectives and activities at a specific point in time. Type II certification includes the description of controls and demonstrates operational effectiveness of the controls over a minimum time period of six months.

The Network, Inc.’s control objectives evaluated by PKM include the following business areas:

  • Client Services processes and methods
  • Business systems and applications security
  • IT control systems
  • Contact center processes and methods
  • Human resources policies and practices

PKM evaluated the control objectives for The Network, Inc.’s business operating areas through a review of documented control procedures, verifying the existence of the processes and analyzing the output of each process.

“The successful completion of the SAS 70 Type II audit demonstrates our total commitment to provide secure, reliable and effective operations,” said Luis Ramos, COO, The Network, Inc. “The Network’s SAS 70 certification assures clients that our operational processes and controls meet superior standards of security and reliability."

SAS 70 is identified in Section 404 of the Sarbanes-Oxley Act to assist companies reliant on service organizations for functions related to reporting. A SAS 70 report focuses on a service organization's control activities -- including management of IT and related processes.

About The Network, Inc.

The Network, Inc. has helped clients collect information and address critical issues such as ethics, risk management and service quality for nearly 25 years. The company provides global services such as hotlines, insurance claim reporting and employee communications to thousands of organizations spanning every industry, including nearly 50% of the Fortune 500. www.tnwinc.com