Ernst &Young >Industries>Asset Management SAS70 - Ernst & Young - Global

The increasing trend towards the globalization of Asset Management organizations and the outsourcing of business processes, coupled with greater demands from stakeholders for transparency and the importance of managing and reducing risks, have made SAS 70 examinations a strategic priority for Asset Management firms.

In a world of changing auditing standards and regulatory requirements, Asset Managers must be able to convey trust and confidence in their controls if they are to retain and win new customers. A SAS 70 report can help deliver this confidence by:

• Evaluating the design of an Asset Manager's controls and assessing whether the controls are operating as intended.
• Giving the Asset Manager the tools to better evaluate the controls over its processes, thus enabling compliance with applicable internal and/or regulatory requirements.
• Enabling the auditors of the Asset Manager's clients to efficiently and effectively plan and perform their audits.

What sets our SAS 70 services apart? One of our strengths is our global network of Asset Management professionals. We have significant experience performing SAS 70 examinations for all segments of the Asset Management industry, including global investment managers, hedge fund and mutual fund administrators, transfer agents and custodian banks. This means that our clients work with people who can bring experience of their market to their business.

We also believe that 'process is as important as product' for a successful SAS 70 examination. In performing our SAS 70 services, we use proven methodologies to deliver consistent quality service.

And finally we bring perspective. We believe that a SAS 70 report is not just a tool for meeting a client's requirements. Rather, it is a highly useful description of an Asset Manager's controls, processes and procedures — and can be used to communicate details of those controls and processes to its client.

There are some restrictions on how we may be able to offer some services to and collaborate with audit clients of Ernst & Young member firms.