PARAMUS, N.J., March 9, 2015 /PRNewswire/ -- Broadscope Fund Administrators, an independent private equity fund administration firm, announced it successfully completed the annual independent examination of its fund administration system for processing user entities transactions – Service Organization Control (SOC 1) Type II Report, in accordance with Statement on Standards for Attestation Engagements No. 16 – SSAE 16. A major international accounting firm examined the design and operational effectiveness of Broadscope's controls for the period ended October 31, 2014.
"We are very pleased to have completed the annual SSAE 16 Type II examination of our controls and the suitability of their design and operating effectiveness," added Kevin O'Neill, Founding Member. "Our control procedures are consistently executed by our team of dedicated fund administration professionals. The combination of our strong control environment, experienced professionals and innovative technology provides the foundation for our high-quality client service offering."
Broadscope's service and control environment was developed and delivered in adherence with established industry best practices. For Broadscope's clients, the SOC 1 report provides an additional level of confidence that Broadscope has adequately described, in all material respects, its controls and that such controls are suitably designed and operating effectively to achieve their specified objectives.
For more information, please visit: www.BroadscopeFA.com
About Broadscope Fund Administrators
Broadscope employs a high touch, boutique model to provide full-service administration to private equity fund managers. Broadscope's premier service is based on direct access to senior management, robust quality controls and innovative technology. The Company's founders and senior employees have significant industry-specific experience and knowledge of a broad range of private equity fund types and structures, which forms the basis of Broadscope's personalized service offering.
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SOURCE Broadscope Fund Administrators
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