United Trust Earns New Service-quality Status
LUXEMBOURG, January 24th, 2012—United Trust, a leading provider of financial services, has been formally recognised as meeting the new SSAE 16 standard, SOC I Type II. United is one of the first amongst its peers to attain this qualification.
The SSAE designation refers to “Statements on Standards for Attestation Engagements”. Developed by the American Institute of Certified Public Accountants, SSAE is a widely recognised reporting standard.
On June 15th of last year, SSAE 16 replaced SAS 70 as the “gold standard” of reporting on controls for service providers.
For funds under administration and their investors, SSAE status confirms that service quality is exceptionally high—and designed to protect investors’ interests.
As a result of the SSAE approval, some United Fund Services clients will benefit from a more efficient and streamlined auditing procedure.
United Fund Services elected to undergo the stringent audit required to earn the status. Ernst & Young, Luxembourg, issued an unqualified, independent service auditor’s report to United’s central administration and transfer agent services.
In 2010, United Fund Services earned SAS 70 Type 1 approval, a strong signal that the company’s controls are indeed sufficient and properly designed.
As of today, United’s central administration and transfer agent services officially meet SOC 1 Type II (formerly known as SAS 70 Type 2) criteria. This means United Fund Services’ controls have been tested—and judged to be working effectively.
About United Trust
United Trust is a modern financial-services company, established in 2006. Our mission is to offer financial knowledge and commitment to clients—in service to transacting solid business, transparently.
United Trust is part of the United Group, which provides Trust and Banking services to clients internationally. United Fund Services is the part of United Trust specialised in providing central administration and transfer agent services to investment funds.
United Trust’s offerings include Corporate Services, Private Wealth and Trust Services, Fund Services, Environmental Markets, Risk Management, as well as Marine and Aviation Services. Please visit http://www.united-itrust.com and http://www.united-ibank.com
Source: United Trust
