Corcentric announced the successful completion of their annual Statement on Standards for Attestation Engagements (SSAE) No 16, also known as the Service Organization Controls examination for its Software as a Service (SaaS) AP automation platform.

About SSAE16

SSAE16 is somewhat similar to ISAE 3402 audtis. SSAE 16 is an auditing standard issued by the American Institute of Certified Public Accountants (AICPA). Its purpose is to allow customers to obtain assurances about a SaaS provider’s system and the suitability of the design of its controls. SSAE 16 is designated by the U.S. Securities and Exchange Commission (SEC) as an acceptable method for a user entity’s management to obtain assurance about service organization internal controls without conducting additional assessments.

SSAE16 for Corcentric

Completion of the SSAE 16 examination indicates that critical Corcentric application and data management, operational processes, procedures, and internal controls have been formally evaluated and tested by an independent auditing firm.

Mark Joyce, Executive Vice President and CFO of Corcentric:

“COR360 customers can feel confident that Corcentric is committed to the security of their data and has controls and procedures in place in COR360 designed to process their information in a responsible and reliable manner. This is relevant to COR360 customers, specifically for their own internal control processes over financial reporting.”