Odyssey Logistics & Technology Corporation (OL&T), a global logistics and transportation service provider for chemical and process industries, has expanded the scope of the SAS 70 Type II certification to include the European, Middle East, and African (EMEA) regions in addition to the company’s North America region. The SAS 70 audit was conducted by the independent audit firm of BDO Seidman, LLP and issued January 15, 2010.
SAS 70 is an auditing standard for service organizations developed by the American Institute of Certified Public Accountants (AICPA).
Cosmo Alberico, OL&T executive vice-president and chief financial officer, said, “OL&T’s service model requires managing high volumes of transactions that encompass a wide range of data-dependent, freight-related activity, and the SAS 70 certification demonstrates our company’s commitment to rigorous controls to deliver a fully secure, reliable information technology environment. What’s more, expanding SAS 70 scope to include EMEA enhances OL&T’s ability to deliver best-in-class transportation management and logistics services to our global customers.”
Requirements of Section 404 of the Sarbanes-Oxley Act of 2002 make SAS 70 audit reports important in reporting on effective internal controls at service organizations. Organizational controls include application development and maintenance controls, logical security and access controls, application controls, system maintenance controls, data processing controls, and business continuity controls.