The peace of mind that comes with entrusting the administration and oversight of your charitable plans to RenPSG is due in large part to the knowledge that an industry leader is proactively working to ensure that the necessary controls and oversight are being attended to on a daily basis.
Process Audit Compliance: SSAE 16 Overview
RenPSG is routinely audited by an independent outside accounting firm for compliance with SSAE 16. The independent auditors review 13 control categories, which are further broken into 79 control procedures, to ensure our compliance. To date, we have been certified to comply without exception. A copy of our SSAE 16 report is available for our clients’ and prospective clients’ review upon request.
What is SSAE 16?
Statement on Standards for Attestation Engagements No. 16 (SSAE 16), Reporting on Controls at a Service Organization, was finalized by the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA) in January 2010. SSAE 16 is designed to provide reasonable assurance that a service organization has designed and effectively implemented a set of internal accounting and operational controls such that those controls can be relied upon by users of the services of the service organization.
SSAE 16 effectively replaces Statement on Auditing Standards 70 (SAS 70) as the authoritative guidance for reporting on service organizations. SSAE 16 was formally issued in April 2010 and became effective on June 15, 2011.
Other Compliance Standards
RenPSG has a number of clients that are large financial institutions to which it provides Charitable Giving Services. These institutions are required to comply with standards promulgated by the Basel Committee on Bank Supervision (BASEL II) and International Standards Organization (ISO). Our financial institution clients have performed numerous inspections to ensure our systems and procedures meet the standards with which they must comply. In every case we have passed those inspections.
If you want to achieve your charitable goals while enjoying the peace of mind offered by entrusting compliance and administration oversight to an industry leader, call RenPSG at 800-843-0050 or contact us.