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Thursday February 9, 2006
Press Release
XDimensional Technologies Inc. Successfully Completes
Type 1 SAS 70 Audit
Brea, CA, February 9, 2006 - XDimensional Technologies
Inc., the provider of Nexsure®, the Internet insurance
agency management solution is pleased to announce that it
has recently completed a service auditor’s review,
commonly known as a SAS 70 audit, of its general controls
supporting the Nexsure services. The audit was performed
by a nationally recognized independent auditing firm, and
was completed in January, 2006. The general controls that
support these activities were also examined.
SAS 70 is an acronym for the American Institute of
Certified Public Accountants (AICPA) Statement on Auditing
Standard (SAS) No. 70, titled “Reports on the Processing
of Transactions by Service Organizations”. SAS No. 70
defines the professional standards used by a service
auditor to assess the internal controls of a service
organization and issue a service auditor’s report.
In order to complete the audit, XDimensional Technologies’
management developed control objectives for the
significant areas of internal control that support the
general controls supporting the Nexsure services. The
control objectives in the 2006 report addressed each of
the following areas:
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Control Environment |
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Physical Security |
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Environmental
Protection |
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Computer Operations |
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Information Security |
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Application
Development and Maintenance Activities |
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Data Communications |
XDimensional
Technologies’ service auditor performed extensive testing
of the control activities that have been implemented by
XDimensional to help ensure that their control objectives
are met. The service auditor’s testing allowed the service
auditor to opine on the following:
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Whether the
description of the controls prepared by XDimensional
Technologies presents fairly, in all material
respects, the relevant aspects of the XDimensional
Technologies’ controls that had been placed in
operation as of January 6, 2006. |
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Whether the controls
were suitably designed to provide reasonable assurance
that the specified control objectives would be
achieved if those controls were complied with
satisfactorily. |
Following this rigorous
examination, the auditing firm was able to issue an
unqualified opinion regarding each of the areas described
above.
“XDimensional Technologies’ management recognizes that
Sarbanes-Oxley legislation has placed an increased focus
on the internal controls of valued business partners,”
comments Michael Walther, XDimensional Technologies CEO
and Chairman. “The SAS 70 audit report is designed to
provide clients with a certain level of assurance
regarding the controls that are maintained by XDimensional
Technologies’ management. The SAS 70 report addresses all
five components of internal control outlined in the
Sarbanes-Oxley legislation, namely the control
environment, risk assessment activities, control
activities, information and communication systems, and
monitoring activities. The structure of our report is
intuitive and is designed to be incorporated with our
clients’ Sarbanes-Oxley compliance programs.”
Furthermore, stated Mr. Walther, “We understand the ever
increasing importance of corporate governance, as well as
the impact of the organization’s services on our clients’
system of internal controls. The successful completion of
the 2006 Type 1 SAS 70 audit is only part of our continued
commitment to maintaining a high level of internal
control. XDimensional Technologies has engaged its
service auditor to a long-term contract whereby the
company will undergo a Type 2 audit later this year and on
an annual basis thereafter.”
About XDimensional Technologies, Inc.
XDimensional® Technologies, Inc. (www.xdimensional.com)
based in Brea, CA., develops and markets Nexsure®, the
Internet insurance agency management solution that
connects agents, carriers, brokers, and policyholders,
driving efficient business production, superior customer
service, and insightful business management. Nexsure
offers robust contact management, sales force automation,
advanced work flow, standard (property and casualty, life
and health, benefits) and custom lines of business, policy
life cycle management, CRM, and multi-office accounting
and reporting. Nexsure is a scalable, web-based, Microsoft®
.NET application with built in web services, data
processing, and transactional capabilities. Nexsure
provides unmatched ease of use, scalability, and
information availability to help insurance agencies
achieve their business goals. XDimensional Corporate
Headquarters are located at 145 S. State College Blvd,
Suite 160, Brea, CA. 92821, tel: 714-672-8960, fax:
714-672-8908
| Contact
Information |
| Warren Long, VP
Marketing |
| XDimensional
Technologies, Inc. |
| Phone: 800-789-2567 |
| E-Mail:
warren.long@xdti.com |
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