SAS 70 Audit Overview

Statement on Auditing Standards (SAS) No. 70 is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA). Successful completion of a SAS 70 audit represents that a service organization has been through an in-depth review of its control processes, including information technology and
related processes.

In May of 2006, ACS Benefit Services, Inc. contracted with Cherry, Bekaert & Holland, L.L.P. to perform a SAS 70 audit on the administrative services provided by ACS to its clients. Cherry, Bekaert & Holland, L.L.P. specializes in performing SAS 70 audits for firms all across the United States.

The SAS 70 audit benefits our clients in many ways. Some of these are:
1. The client can be assured that the necessary internal control procedures have not only been implemented but that they are effective in controlling the monies handled by ACS as a fiduciary of the health or dental plan.
2. The client can give a copy of the SAS 70 report to its financial auditors to show that the necessary controls are maintained on the health care plan portion of the client’s financials.
3. During the audit, ACS staff conducts interviews with the auditors to keep up to date on all the processes and procedures usedacross the country at the other organizations Cherry, Bekaert & Holland, L.L.P. audits. These interviews provide an opportunity for ACS to learn what is and is not working at other organizations and then use this information to determine if ACS’ clients would benefit from any changes in ACS’ policies and procedures. The results of the SAS 70 audit were excellent. The industry standard for statistical accuracy is 96% and ACS was measured at 100%. The industry standard for financial accuracy is 98% and ACS was measured at 100 %.

If you would like a full copy of the SAS 70 report please contact Elaine Wall:
Phone: (336) 759-2013 extension 1105 or via email at ewall@acsbenefitservices.com