Centershift Inc., a provider of self-storage management software, successfully achieved another SAS 70 Type II certification after an audit of internal controls by the internationally recognized independent auditing firm Grant Thornton. Centershift was the first software provider in the self-storage industry to achieve this status.
The certification verifies that the company’s control objectives and activities surrounding financial transactions meet the standards for internal control over financial reporting developed by the American Institute of Certified Public Accountants (AICPA). Centershift has earned the certification four consecutive years.
The SAS 70 audit requires intensive documentation of the company’s process controls and a physical audit by a third-party organization of those controls, said Terry Bagley, president and CEO. An audit must be performed each year for the SAS 70 Type II certification to be issued.
“This audit helps satisfy the requirements of our largest clients in their compliance with the Sarbanes-Oxley act of 2002,” added James Hafen, chief technology officer and executive vice president.
Statement on Auditing Standards (SAS) No. 70 is an internationally recognized auditing standard developed by the AICPA. A service auditor’s examination demonstrates that a service organization has been through an in-depth audit of their control activities, which generally includes controls over information technology and related processes. An SAS 70 Type I outlines the procedures, policies and controls necessary to ensure effective performance at a single point in time. SAS 70 Type II is an independent audit of these procedures, policies and controls to verify and validate that the organization is actually following them over an extended period.
Grant Thornton is an internationally recognized, top-five public accounting firm.
Based in Salt Lake City, Centershift provides Internet-based rental-management and point-of-sale software solutions for the self-storage industry. Its clients include real estate investment trusts and ownership/management organizations of all sizes. The company’s Store Enterprise and Advantage applications were designed for integration with websites, call centers, web aggregators, iPhones, centralized mail services, corporate offices and other business systems.