2012 May 1
Novato, CA, May 1, 2012—KCC, a Computershare company, has completed an AT 101 Report over its Class Action Services processes through an independent review process. This attestation validates KCC’s ability to consistently execute controls that ensure security and data integrity for clients.
“Through AT 101 we are able to offer our clients increased transparency, security and data integrity,” stated James Le, KCC’s Executive Vice President of Class Action Services. “KCC is the first claims administrator to have achieved this prestigious attestation.”
The American Institute of Certified Public Accountants (AICPA) has established the AT 101 standard to allow service organizations to report on controls effectiveness beyond the scope of financial reporting by obtaining an opinion on the operating effectiveness of such controls from a registered public accounting firm. While not as well-known in the marketplace as SSAE 16 (which supersedes the SAS 70 standard for service organization controls over financial reporting), usage of the AT 101 is rapidly developing in the marketplace as an alternative to SSAE 16 reporting, with the increasing market demand for transparency beyond traditional financial reporting.
As a claims administrator, one of the core functions KCC performs is the allocation and disbursement of Court allocated funds for involved parties. KCC’s allocation and disbursement process, covered by the AT 101, assures clients that controls have been implemented to manage resources and funds completely and accurately.
AT 101 plays a pivotal role in reporting on controls of organizations providing services such as class actions administration, data centers, cloud computing, Software as a Service (SaaS), and managed services reporting on controls beyond financial reporting.
Last year, Computershare Communication Services also completed an AT 101 report over several of their solution offerings in the US. Computershare is continually evaluating third-party attestations that provide clients with a high level of trust.
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