" Nair & Co. Transitions to SSAE 16 Compliance"
Nair & Co., a global integrated solutions provider helping companies with international expansion plans, today announced that it is compliant with the Statement on Standards for Attestation Engagements (SSAE) No. 16.SSAE 16 is the new assurance standard, which replaces the previous leading standard for guidance regarding assurance reports for serviceorganizations, SAS70, and is effective for periods on or after June 15, 2011.
Published on: Mar 3, 2016
Transcripts - " Nair & Co. Transitions to SSAE 16 Compliance"
Nair & Co. Transitions to SSAE 16 ComplianceMove Ensures Highest Internal Control StandardsSunnyvale, CA —Nair & Co., a global integrated solutions provider helping companies with international expansion plans, todayannounced that it is compliant with the Statement on Standards for Attestation Engagements (SSAE) No. 16.SSAE 16 is the new assurance standard, which replaces the previous leading standard for guidance regarding assurance reports for serviceorganizations, SAS70, and is effective for periods on or after June 15, 2011.“Nair & Co.’s accounting and support teams’ operations come under the purview of SSAE 16 statement on controls. Compliance with SSAE16 provides optimal assurance to our clients that their data are protected by the most current international industry standards and thatcontrols over financial reporting are designed and operated effectively throughout the year, as put forth by the American Institute ofCertified Public Accountants (AICPA),” said Jody Fullman, Vice President of Technology & Internal Audit at Nair & Co."As a SSAE 16 compliant service provider, clients can rely on sound internal controls over their financial reporting data while also makingit easier for their own auditors to plan financial statements," added Maggie Pratten, Head of Internal Audit at Nair & Co.The SSAE 16 is an “attest” standard, falling under the attestation framework, as opposed to the “auditing” framework of the SAS 70standard.By design, SSAE 16 is closely aligned with the previously released global standard ISAE 3402 (Assurance Reports on Controls at a ServiceOrganization) and, according to the AICPA, the differences between the two standards are minimal as a result of efforts to converge theU.S. standard with the international one.“Nair & Co. is compliant at each of its key processing centres in India, China and U.K. We have been proactive in preparing and adapting tothis change. The move underscores Nair & Co.’s effort to be ahead of the curve in adopting international best practices and ensuring ourclients get the best, most efficient and most secure service delivery processes,” said Dr. Shan Nair, Co-Founder & CEO at Nair & Co.Nair & Co.’s innovative and unique solutions are built to scale to new operations, incorporate changes in policy and/or strategy. Thecompany’s team of experts provides consultancy services in Human Capital Consulting, Tax Consulting, International Accounts Payable,International Accounts Compliance, Tax Compliance, and Corporate Governance across the globe.About Nair & Co.Nair & Co. provides an integrated solution in the HR, finance, tax, compliance and legal arenas making a company’s overseas operationsless risky, stress free and more strategic. It currently has 740+ client operations in over 50 countries with offices in U.K., India, China,U.S., Japan and Singapore. Nair & Co. was named among the top 100 outsourcing services providers in the world by the InternationalAssociation of Outsourcing Professionals (IAOP). Learn more at http://www.nair-co.comFor more information, contact:Nandita Verma(408) email@example.comKnow more - expat tax advice , tax equalization expat, intercompany transfer pricing