Sabrix Raises the Bar with SAS 70 Type II Certification
Certification Demonstrates Company’s Commitment to Helping Customers Achieve Cost-Effective SOX Compliance
San Ramon, CA November 7, 2007 — Sabrix®, Inc., the proven experts in transaction tax management solutions for companies of all sizes, today announced that it has successfully completed a SAS 70 Type II audit of Sabrix Tax Research, the company’s tax information services division that supports both Sabrix Application Suite and Sabrix Managed Tax Service™ customers.
“With our adoption of SAS 70 standards in 2006, and our recent completion of the Type II audit, Sabrix demonstrates our on-going commitment to SOX-compliant outsourced financial processes,” said Carla Yrjanson, Vice President of Tax Services. “As the law continues to evolve, Sabrix will remain at the forefront of the changes so that we can continue to help streamline our customers’ Sarbanes-Oxley compliance processes and drive down their related costs.”
According to current law, Sarbanes-Oxley Section 404 requires companies to validate the controls of third-party service providers if they contribute to the company’s financial controls(1). SAS 70 is the internationally recognized third-party-provider auditing standard developed by the American Institute of Certified Public Accountants. To achieve Type II certification, the highest level attainable, a company must complete a Type I audit, and then fulfill another six-month-long requirement which tests the service provider’s controls in practice.
Sabrix’s Type II audit was completed by Holmes Royer, LLP. Sabrix customers can request a copy of the company’s operational processes and methodologies to augment their own SAS 70 documentation.
About Sabrix
Sabrix, Inc. is a leading provider of transaction tax management for companies of all sizes, enabling finance, tax, and IT professionals to achieve accurate, timely, and cost-effective compliance for sales tax, use tax, Value Added Tax (VAT), excise tax and industry-specific taxes and fees. The Sabrix Application Suite serves global enterprises such as Amazon.com, BASF, Cisco, DTE Energy, IBM, QUALCOMM, Sportsman’s Warehouse, and York International. The Sabrix Application Suite seamlessly connects to all financial applications requiring the determination, calculation, and recording of transaction taxes. The company also offers the Sabrix Managed Tax Service™ (MTS), an outsourced transaction tax compliance service that helps finance departments of small-and-medium-sized businesses eliminate the hassle, control their audit exposure, and reduce the total cost of sales tax, use tax, and VAT compliance. Sabrix MTS seamlessly integrates with a company’s existing accounting and e-commerce systems, and, similar to outsourced payroll services, operates as a trusted extension of a company’s finance department to address tax compliance from start to finish: address validation, tax rate maintenance, tax determination and calculation, returns preparation and filing as well as audit research and documentation. For more information, please visit www.sabrix.com.
(1) Christopher L. Schellman, “SAS No. 70: Evaluating Service Organizations’ Internal Controls is Key to Section 404 Compliance,” Florida CPA Today, November 4, 2005.
For press inquiries:
Kurt Foeller
Foeller Communications
sabrix@foellercom.com