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FIQAS has once again obtained an ISAE 3402 Type 2 assurance statement for the Abillity® invoicing platform for the fiscal year 2019, with ‘zero exceptions’. This statement confirms and substantiates that Abillity® maintains complete control over the automated order-to-cash processes performed by FIQAS for its clients or those managed directly by its clients.
Total control
ISAE 3402 is the internationally recognized assurance standard for outsourcing. Certified service organizations under ISAE 3402 undergo an extensive audit of their risk management and internal control systems. All accountants in the Netherlands recognize the ISAE 3402 standard and can rely on it for their annual audits. The Type 2 statement indicates that the reviewed party has complete control over the processes outsourced to it.
Comprehensive assurance statement
As a service organization, FIQAS offers managed services for pricing, invoicing, and accounts receivable, utilizing its proprietary Abillity® platform. Most of FIQAS’s clients are subject to an audit for their annual financial statements, where the automated processes and their security are increasingly important, especially considering legislation. Therefore, an ISAE 3402 audit of FIQAS’s software is highly crucial for these clients.
Similar to the audits of previous years, the Abillity® audit for 2019 resulted from a comprehensive assessment covering all modules of the platform. The benefit of this comprehensive assurance statement is twofold: FIQAS’s clients’ accountants can utilize this statement in their own audits, ensuring that all relevant components have been assessed and comply with ISAE 3402 Type 2. Moreover, for prospective and new clients of FIQAS, it is relevant to know that FIQAS successfully undergoes this assessment each year.
‘Zero exceptions’
FIQAS emerged from the overall assessment of Abillity® with ‘zero exceptions’. This signifies that the audit did not reveal any shortcomings. While this positive evaluation may not surprise FIQAS, given previous assessments without comments, it remains an achievement worth celebrating.
