Web Hosting News – VANCOUVER, BC – PEER 1 Hosting (TSX:PIX), a global online IT hosting provider, today announced it has successfully completed two independent audits of its selected controls, processes and procedures in compliance with the American Institute of Certified Public Accountants’ (AICPA) Statement on Auditing Standards (SAS) No. 70 for service organizations and the Canadian Institute of Chartered Accountants (CICA) Section 5970 for the period from January 1, 2010 through June 30, 2010. SAS70 Type II and CICA 5970 audits are widely recognized within the industry as rigorous and stringent benchmarks for service organizations, and they require a thorough audit of the internal controls of the service organization by a licensed independent auditor. The SAS 70 Type II and CICA 5970 audit reports are intended to provide PEER1 Hosting’s customer organizations and their auditors with information sufficient to obtain an understanding of those aspects of PEER 1 Hosting’s controls that may be relevant to their internal controls over financial reporting and thereby aid in assessments of business risk for customer organizations. A Type II report not only includes the service organization’s description of existing controls, but also includes detailed testing regarding the design and operating effectiveness of the service organization’s controls.
