HR & Payroll specialist, Patersons, gains compliance with Sarbanes-Oxley Act from PwC
Feb 11, 2008
Global HR & payroll software and services expert, Patersons, has gained Type II SAS 70 compliance, an audit performed to meet the requirements of the Sarbanes-Oxley Act on corporate governance. Patersons is one of the first organisations to fully integrate the requirements of ISO9001-2000 into its controls for SAS 70. Assurance of controls is provided by not just one set of auditors, but by two external bodies every six months. The audit focuses on organisation-wide internal control procedures, auditing, reporting, records management and IT systems.
Patersons has grown dramatically over the last 18 months, opening offices in Singapore and France, and a global 24/7/365 service centre and separate sales offices in the US. A new operation in China will launch in 2008, along with a Chinese version of Patersons’ highly successful CloudPay payroll and HR software. Patersons’ web-based ASP HR & payroll software, CloudPay, is now available in 160 countries including places as diverse as Iran, The Cook Islands and Vanuatu, with new languages typically being added in just weeks. Founded by CEO Karen Paterson in 1996, it has become the leading software as a service company globally in HR and payroll and enjoyed 300% growth in 2006/07 with turnover projected at £12-£14m for 2007/08.
Karen Paterson, CEO of Patersons, explains, “Whether you are a public or private company, strict attention to internal business processes and related business controls requires quality control. Many businesses are seeking to outsource their financial activities, and if their supplier does not comply fully with the requirements of the Sarbanes-Oxley Act, this often this leaves them exposed with respect to SOX compliance. Successfully passing the Type II SAS 70 audit allows customers and partners to see independent validation regarding the status of internal controls for Patersons’ activities and its global HR and payroll solution, CloudPay. The audit will be carried out on a six monthly basis by PricewaterhouseCoopers, one of the world’s leading organisations in the field of Sarbanes Oxley. Customers should expect nothing less from their service providers.”