MLF LexServ (“LexServ”) a leading insurance asset servicer, has announced the successful completion of the Standards for Attestation Engagements (SSAE) 16 Type II and International Standards for Assurance Engagements (ISAE) 3402 audits for 2015.
The results of the audits were “unqualified,” meaning that the operational control measures in place are effective and working as designed. Receiving an unqualified audit report validates LexServ’s commitment to adhere to internationally recognized standards of quality and process control principles.
SSAE 16 is a recognized third-party assurance audit for service providers. ISAE 3402 is an internationally recognized standard for reporting controls at service organizations. To ensure a comprehensive audit for both reports, LexServ identified primary areas of control with multiple individually tested controls associated with each area. Control areas included all core business processes, enterprise systems, change management, physical security, and logical access to data and systems.
This marks the fourth consecutive year LexServ has engaged an external firm and successfully completed this assessment. The 2015 assessment was completed by RSM (formerly McGaldrey).