SAS 70 Audit Overview

    Statement on Auditing Standards (SAS) No. 70 is an internationally recognized
    auditing standard developed by the American Institute of Certified Public
    Accountants (AICPA). Successful completion of a SAS 70 audit represents that a
    service organization has been through an in-depth review of its control processes,
    including information technology and related processes.

    ACS Benefit Services, Inc. has a contract with Cherry, Bekaert & Holland, L.L.P. to
    perform a SAS 70 audit on the administrative services provided by ACS to its
    clients. Cherry, Bekaert & Holland, L.L.P. specializes in performing SAS 70 audits
    for firms all across the United States.

    The SAS 70 audit benefits our clients in many ways. Some of these are:

    1. The client can be assured that the necessary internal control procedures have not
    only been implemented but that they are effective in controlling the monies
    handled by ACS as a fiduciary of the health or dental plan.

    2. The client can give a copy of the SAS 70 report to its financial auditors to show
    that the necessary controls are maintained on the health care plan portion of the
    client’s financials.

    3. During the audit, ACS staff conducts interviews with the auditors to keep up to
    date on all the processes and procedures used across the country at the other
    organizations Cherry, Bekaert & Holland, L.L.P. audits. These interviews
    provide an opportunity for ACS to learn what is and is not working at other
    organizations and then use this information to determine if ACS’ clients would
    benefit from any changes in ACS’ policies and procedures.

    The results of the SAS 70 audit were excellent. The industry standard for statistical
    accuracy is 96% and ACS was measured at 100%. The industry standard for
    financial accuracy is 98% and ACS was measured at 100 %.

    If you would like a full copy of the SAS70 report, please send an email to
    ewall@acsbenefitservices.com