NCH and SAS 70 Type II
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SAS 70 Type II certification has been provided to NCH for its promotional fund transfers for trading partners. Two reports were produced by PriceWaterhouseCoopers, one for manufacturing, the other for retailing. Taking six months, the audit looked at over 200 control activities. All facilities and data capture services were covered. """It is estimated that more than $3 billion dollars and millions of transactions flow through the U.S. coupon redemption industry annually, moving between more than 3,000 manufacturers and 90,000 retail submitters,"" said Dennis. ""With so much at stake, there should be no room for shortcuts or control issues that could compromise the security, integrity or audit trail of the system. Controls based on self-reporting simply are no upon request, to the internal audit departments of NCH's manufacturer and retailer clients. "SAS 70 Type II Iis seen as a stepping stone towards compliance with the Sarbanes-Oxley Act. The heavy emphasis on auditing control activities gives companies a foretaste of the infamous Section 404.
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