14 January 2008 - Misys, the global software and solutions company, announced today that it has completed an examination in conformity with Statement on Auditing Standards No. 70 (SAS70), Service Organizations, of its Misys Treasury Plus Confirmation Matching Service for the period October 1, 2006 through September 30, 2007.
The examination was performed by accounting and auditing firm Ernst & Young LLP. Statement on Auditing Standards No. 70 was established by the American Institute of Certified Public Accountants (AICPA). A SAS 70 report is intended for a service organization's management, its clients, and the independent auditors of the client organizations. It provides information and an independent assessment of Misys' specified controls as they relate to the processing of transactions in connection with audits of financial statements.
The SAS70 report includes the auditor's opinion, a description of the Misys Treasury Plus control activities related to trade confirmation matching, the control testing performed by Ernst & Young LLP, and the related testing results. The SAS70 serves as a value-added tool for Misys' clients to assist in fulfilling their responsibilities to assess controls, and enables clients to perform such assessments in a more cost-effective manner.
This annual examination provides Misys' clients and their auditors with an evaluation of the operating effectiveness of the controls in place at Misys related to its Treasury Plus Confirmation Matching Service. Misys' commitment to having a third party examination performed is an integral part of its overall commitment to providing quality service to its clients. The last SAS 70 audit was completed in September 2006.
Hachadur Hashasian, Head of Systems & Compliance at Misys Global Managed Services, elaborates: "With a SAS 70 examination completed, Misys Treasury Plus users will be able to use the report to assist in their assessment of controls relating to the processing of financial data and other sensitive company information, and, allow users to perform their assessments more efficiently."
Misys Treasury & Capital Markets has 17 years of market experience and unrivalled software development expertise. It creates integrated, comprehensive solutions for financial institutions to manage their capital market activities across multiple asset classes.
Misys Treasury Plus was recently awarded 'Best Trade Processing solution 2007' by the European Banking Technology Readers' Choice Awards.
For further information or to request an interview with a Misys spokesperson, please contact:
Stephen White
Misys Treasury & Capital Markets
t. +44 (0) 208 486 1661
stephen.white@misys.com
Hachadur Hashasian
Head of Systems, QA & Compliance
Misys Global Managed Services
T +1 845 501 0728
hach@misys.com
About Misys plc
Misys plc (FTSE: MSY.L), provides integrated, comprehensive solutions that deliver significant results to organisations in the financial services and healthcare industries. We maximise value for our customers by combining our deep knowledge of their business with our commitment to their success.
In banking and treasury & capital markets, Misys is a market leader, with over 1,200 customers, including all of the world's top 50 banks. In healthcare, Misys is a market leader, serving more than 100,000 physicians in 18,000 practice locations and 600 home care providers. Misys employs around 4,500 people who serve customers in more than 120 countries.
We aspire to be the world's best application software and services company, delivering results for the most important industries in the world.
Misys: experience, solutions, results
Contact us today, visit: www.misys.com
