ISAE 3402 and SSAE 16: an international standard for internal control
The SSAE 16 (Statement on Standards For Attestations Engagements) is in line with the standards of the American Institute of Certified Public Accountants (AICPA), an American standard and one of the few international standards for internal control.
ISAE 3402 (International Standard on Assurance Engagements) international certification is the most comprehensive of its type. It comprises an initial assessment at the time of certification and, significantly, additional regular reviews to ensure that the procedures put in place are properly implemented.
ISAE 3402 and SSAE 16 provides the right mechanism for a company to continually improve its procedures. For each service audited, a control grid is established with a list of objectives, activities being monitored, test plans, observations and recommendations. These ensure continued improvement.
Primexis is certified ISAE 3402 and SSAE 16 for its International Business Services Accounting Payroll and Real Estate Management services.
In November 2006, Primexis was first awarded SAS 70 Type II certification, becoming the first French accounting firm to be SAS 70 certified, and has subsequently renewed the certification each year. Since 2011, Primexis is ISAE 3402 and SSAE 16 to meet the international and U.S. requirements.
This is of significant importance for Primexis as it has a large client base of French subsidiaries of foreign companies, including many US organizations that are required to comply with the Sarbanes-Oxley Act. The Sarbanes-Oxley Act requires companies to strictly monitor the quality of their financial reporting and internal control procedures. Being ISAE 3402 and SSAE 16 certified means that Primexis meets these requirements.
With Primexis, small or midcap companies will receive the same level of review as those deployed for large companies. We guarantee the same level of involvement and quality. Being certified ISAE 3402 and SSAE 16 means we can serve large firms, but for smallcap and midcap companies it is also the guarantee of high-quality.