As a leading one-stop shop service provider in Mauritius licensed by the Financial Services Commission as a Management Company, we have committed ourselves to the ISAE 3402 audit standard, in order to make sure our Business Partners’ data and transactions are securely processed. Data integrity, IT security and adherence to international standards with regards to risk governance and control is an essential part of our business.
IFS has always had its procedures, policies and controls successfully audited by our statutory audit firm. Given the increasing need of our Business Partners to rely on ISAE3402 recognized standards, we are pleased to announce that PricewaterhouseCoopers Ltd - Mauritius has confirmed that IFS now has its Type 1 audit completed, compliant with the new International Standard on Assurance Engagements No. 3402. This ensures that relevant controls and procedures relating to important business processes in providing advisory and management services to global businesses were accurately described and suitably designed in order to achieve IFS management’s control objectives.
ISAE 3402 was issued by the International Auditing and Assurance Standards Board (IAASB) in 2010 to succeed the Statement on Auditing Standards No. 70 (SAS70). IFS Management has planned an ISAE 3402 Type 2 audit towards the end of 2012 resulting in a Type 2 Assurance Report by December 2012. In addition to the Type 1 Report, this will also address the operating effectiveness of the controls which are in scope of the audit.
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