PaperlessPay Corporation Completes SAS 70 Type I Audit

Jacksonville, FL – September 14, 2010 – PaperlessPay Corporation, an online paystub service provider, announced today that it has completed a Statement on Auditing Standards No. 70 (“SAS 70”) Type I audit.  This marks the 3rd consecutive year of PaperlessPay Corporation undergoing the extensive audit.  The audit was performed by Accell TAC, P.A., a full-service audit and consulting firm that specializes in conducting SAS 70 audits.  SAS 70, developed by the American Institute of Certified Public Accountants (“AICPA”), is the most widely recognized authoritative guidance that provides service organizations a uniform method for disclosing independently assessed information about the design and operation of internal controls related to their services.  Companies who complete an annual SAS 70 audit are able to demonstrate a substantially higher level of assurance and operationally visibility than those companies who do not. 

The completion of the SAS 70 Type I audit typifies PaperlessPay Corporations’ continued commitment to create and maintain the most stringent controls needed to ensure the highest quality and security of services provided to their customers.  The Service Auditors’ Report issued by Accell TAC, P.A., with an unqualified opinion, demonstrates that PaperlessPay Corporations’ control activities were effectively designed and placed in operation as of the report date.

“Annually conducting the SAS70 Audit provides us the assurance that the policies we created and implemented to insure a secure and quality environment for our clients are being followed by everyone in the company.” said W. Mark Broughton, President and Chief Architect.  Broughton further commented, “It’s one thing to create policies and procedures and another to consistently follow them.  The SAS70 affirms we are doing so.”

The Service Auditors’ Report includes a detailed description of PaperlessPay Corporation’s controls and an independent assessment of whether the controls are placed in operation and suitably designed.  To receive a copy of the Service Auditors’ Report, or for any further questions, please contact Richelle Dietz, Director of Operations and Human Resources.

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