Beecher Carlson receives FASB report
–01 February 2008
Beecher Carlson’s Captive Services Practice has received its first SAS 70 Type II report and associated unqualified audit opinion.
Statement on Auditing Standards Number 70 (SAS 70) is a widely recognised auditing standard developed by the Financial Accounting Standards Board (FASB).
The issuance of the report signifies that Beecher Carlson has had its captive control objectives and control activities examined by an independent accounting firm and that the controls were operating with sufficient effectiveness to provide assurance to Beecher Carlson’s clients that their captives are accounted for and managed correctly. Beecher Carlson is the 7th largest captive manager worldwide.
“To my knowledge, Beecher Carlson is the only captive manager to have secured a SAS 70 Type II report,” said Jason Flaxbeard, Senior Managing Director of Beecher Carlson’s Captive Services Practice. “I believe this is yet another milestone that further demonstrates Beecher Carlson’s commitment to delivering a superior captive management product to our clients.”
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