Performance Technology Group First in Baltimore to Receive SAS 70 Type II Certification
Baltimore, Maryland - April 19, 2007 – Performance Technology Group, Inc. (PTG) is the first managed technology service provider in Baltimore to receive the prominent AICPA SAS 70 Type II Certification.
SAS 70, short for Statement on Auditing Standard 70 for service organizations, is a standard promulgated by the American Institute of Certified Public Accountants (AICPA) that defines the professional standards used by a service auditor to assess the internal controls of a service organization and to issue a service auditor’s report. Specifically, the review is an in-depth audit of an organization’s controls over information technology and related processes. A Type I report describes the organizations description of controls at a given time, and Type II includes everything in a Type I audit plus a detailed testing of these controls over a minimum six-month period.
Heavily regulated industries and more rigorous regulatory requirements from legislation such as the Sarbanes-Oxley Act of 2002 and the Health Insurance Portability and Accountability Act (HIPPA) of 1996 have also made successful SAS 70 audit reports even more important. As a result, many leading financial, healthcare and commerce enterprises and institutions are requiring SAS 70 audits of their service providers. Given that such audits are costly and can be very difficult to achieve due largely to the extensive and thorough assessment of the organization, an auditor’s “unqualified opinion” is a coveted credential for IT service providers. An unqualified opinion here, as with financial audits, is essentially a “passing” grade, which means the auditors find no significant or material problems or issues internal operations, policies, procedures and controls.
For Performance Technology Group and the broader IT Managed Services and Outsourcing Industry, this standard of performance is one of the leading organizational credentials that can be attained. The SAS 70 brings a higher level of assurance for existing and potential customers, and as a result, its demand has grown dramatically across numerous customer markets.
Says Pete Chakales, CEO of Performance Technology Group, “We have been providing high-level IT consulting and outsourcing services for premiere financial, media, healthcare and government clients and institutions in the mid-Atlantic and Northeast for the past 10 years. The SAS 70 Type II certification reflects the quality of our services, since the audit covers a broad spectrum of our organizational management and control processes and procedures. The significant investment we made in time and resources to successfully complete this audit is a further reflection of our commitment to our clients and the safety of their data.”
Chakales also sees the SAS 70 Type II certification as a key component of the company’s business development strategy, as such certification will give Performance Technology Group a distinct advantage over competitors that have not received certification.
Founded in 1996, PTG is a premier provider of systems engineering and technology management services for commercial, State and Federal customers requiring high reliability and security. Clients include McCormick & Company, Inc., American Radiology Services, Knoll Furniture and Johns Hopkins.