Press Release: July 1 – ASCENT an Independent Global Fund Administrator is proud to announce that we have been awarded our first ISAE 3402 TYPE II certification audited by Big 4 Audit firm KPMG.
ISAE 3402 TYPE II engagements are generally performed by control-oriented professionals who have experience in accounting, auditing, and information security. An ISAE 3402 TYPE II engagement allows a service organization to have its control policies and procedures evaluated and tested (in the case of a Type II engagement) by an independent party.
The road to become Best Fund Administrator and to get certification requires commitment, time, and dedication. After our significant growth in 2020 ASCENT identified the need to mature company policies & procedures, internal controls, IT infrastructure, Fund administration & AML Technologies, and other tools to ensure scalable and repeatable high-quality services. ASCENT Fund Services selected the ISAE 3402 TYPE II certification as the backbone against which to drive continual improvement specifically for focus on quality controls and the global recognition of this standard.
To achieve ISAE 3402 TYPE II certification, we completed a thorough analysis of our internal controls, business processes as well as our service quality environments, and underwent a rigorous evaluation process which included: quality management, IT infrastructure and technology systems, documentation review, and several audits.
ASCENT has developed and implemented our quality management system in order to improve our overall performance and to maintain a high level of quality and client service while providing a strong foundation for sustainable growth. Our decision to pursue ISAE 3402 TYPE II certification demonstrates our commitment to providing high-quality and consistent products and services to our existing and future clients.
This is an exciting time for ASCENT, we look forward to keeping the momentum going and continuing to drive as a world leader to provide One Stop Solutions – Fund Solutions, Corporate Solutions, and Trust Solutions.
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