Sabrix Awarded SAS 70 Type I Certification
Certification Marks Sabrix’s Ongoing Commitment to Provide Clients With the Most Reliable and Accurate Tax Information
SAN RAMON, Calif. - March 13, 2007 — Sabrix®, Inc., the leading provider of transaction tax management solutions, today announced that it has successfully completed a SAS 70 (Statement on Auditing Standards No. 70) Type I audit of its Tax Research business processes. Independent auditor, Holmes Royer LLP, performed the audit. The SAS 70 certification demonstrates Sabrix’s continued commitment to provide customers the most reliable, current, and accurate tax research for regulatory tax compliance and to operate as a trusted, tax research provider who meets the rigorous operational controls associated with Sarbanes-Oxley compliance.
SAS 70 is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA) to report on a third-party service provider’s operational controls and their effectiveness. SAS 70 audits are important in an environment of increased business process outsourcing and Sarbanes-Oxley compliance.
Sabrix Tax Research provides global rates, product rules, cross-border tax determination, and country and state law changes that impact over 11,500 jurisdictions in the United States and 150 countries worldwide. A team of experienced CPAs; tax experts in sales, use, and value-added tax; and legal experts is dedicated to ensuring that the most accurate and current tax rates and rules are available for calculation and determination within the Sabrix Application Suite for consolidated transaction tax management.
"Sabrix has always been dedicated to providing accurate, complete, and timely Tax Research," said Carla Yrjanson, Vice President of Tax Services. "With SAS 70 certification, we provide our customers with yet another reason to be confident in the depth and accuracy of our tax expertise. As a result of the in-depth assessment of control activities and SAS 70 certification, customers can trust the Tax Research that is an integral part of our Application Suite. We remain committed to renewing our SAS 70 compliance on an annual basis and to demonstrating that Sabrix has adequate controls and safeguards on its Tax Research."
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.
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Kurt Foeller
Foeller Communications
sabrix@foellercom.com