HERNDON, Va., Jan. 29, 2013 (GLOBE NEWSWIRE) -- ePlus inc. (Nasdaq:PLUS) today announced that it has successfully completed the Type 2 SSAE 16 (Statement on Standards for Attestation Engagements) examination for its Procure+, Content+, OneSource IT, and Manage+ services. The Type 2 SSAE 16 examination (or SOC 1) supersedes the SAS 70 audit standard and represents that the engagement was performed in accordance with the standards established by the American Institute of Certified Public Accountants (AICPA). The SSAE 16 examination provides customers and auditors with an understanding that the description of services and solutions provided by ePlus are fairly presented. The Type 2 component of SSAE 16 provides an objective evaluation that ePlus' controls were operating effectively during the specified period of the examination. "As more and more organizations are shifting their processing to integrators and solution providers, it is critical to ensure the proper security and control procedures have been enacted," said Ken Farber, president of ePlus Systems. "ePlus takes this responsibility very seriously and is committed to protecting our customers' data and testing our control and business continuity procedures throughout the year. We are pleased to be able to provide these SSAE 16 reports to our customers as evidence of our well-documented and disciplined control activities for our eProcurement, content management, IT procurement, and asset management solutions." The ePlus SSAE 16 report, conducted by one of the nation's leading service audit firms specializing in SSAE 16 services, found that for the period of January 1, 2012 to September 30, 2012, the description of ePlus products and services as well as operating effectiveness of controls supporting ePlus' Procure+, Content+, OneSource IT, and Manage+ solutions provided "reasonable assurance" that the specified control objectives were achieved. The report includes the service auditor's opinion that:
- The description of product and services provided by ePlus fairly presents the hosted eProcurement, content management, and asset management solutions that were designed and implemented throughout the period of January 1, 2012 to September 30, 2012.
- The controls related to the control objectives stated in the description were suitably designed to provide reasonable assurance that the control objectives would be achieved if the controls operated effectively throughout the period of January 1, 2012 to September 30, 2012, and user entities applied the complementary user entity controls contemplated in the design of ePlus' controls throughout the period of January 1, 2012 to September 30, 2012.
- The controls tested, which together with the complementary user entity controls referred to in the scope paragraph of this report, if operating effectively, were those necessary to provide reasonable assurance that the control objectives stated in the description were achieved, operated effectively throughout the period of January 1, 2012 to September 30, 2012.
CONTACT: Kleyton Parkhurst, SVP ePlus inc. kparkhurst@ePlus.com 703-984-8150