- Citco Fund Services (“CFS”) is pleased to announce that it has successfully received SOC 1 Type 2 certifications from an independent auditing firm for the tenth consecutive year for the year ended September 30, 2013. The examination in respect of the processes and controls within the fund services division resulted in the provision of unqualified audit opinions by the independent audit firm.
- Citco Nederland B.V.
The 2013 SOC 1 Reports have been prepared in accordance with the guidelines contained in the United States Statement on Standards for Attestation Engagements (“SSAE”) No. 16 and International Standard On Assurance Engagements (“ISAE”) 3402 and its related amendments and interpretations.
The scope of the reports covers CFS operations that provide fund administration services to our clients from our offices worldwide.
The independent examination consisted of an evaluation of the design and operating effectiveness of the CFS controls related to month end net asset value (“NAV”) processes, investor relations processes and information technology. From a fund accounting and investor relations perspective, CFS controls included in the examination support trade processing, price verification, reconciliations of cash and positions, middle office services for fund of hedge funds, enhanced middle office (including affirmation and confirmation) for single manager funds, NAV production, allocations and investor services.
From an information technology perspective, the examination included controls related to logical and physical security, change management and job scheduling. In the coming weeks CFS will be issuing a SOC 1 Type 1 report covering controls related to its private equity and real estate fund offering. The completion of the SOC 1 examination demonstrates our commitment to quality, confidentiality and maintaining a high level of internal control.
We welcome any inquiries via your relationship manager with respect to our 2013 SOC 1 examinations.