A first in the Channel Islands for IT

James Qualtrough | May 25, 2012 | 0 Comments

Itex is the first Channel Island IT Company to achieve the International Standards Accreditation ISAE3402.

The ISAE (International Standard for Assurance Engagements) is a globally recognised Standard giving formal assurance to a company’s control and operational processes. Commonly found within the asset management and investment sectors, ISEA3402 is now expanding its reach to the IT industry.

The Accreditation is achieved following an intensive audit by a third party – in Itex’s case accounting firm PwC undertook a robust audit of the organisation’s information strategy and its internal procedures relating specifically to data security, privacy, confidentiality and reporting.

Ian Jauncey, Managing Director of Itex explains:

“We have been working towards this accreditation for some time. This move was in response to requests from our more advanced and far sighted clients for such formal assurance. In order to obtain this assurance, Itex has worked with PwC to embed all necessary processes, practices and reporting to guarantee asset protection.”

Ian adds:

“Any organisation which has significant activity in investment management or fund administration or any need to provide protection or safe custody of assets, whether real or digital, needs to be considering formal assurance, whether for regulatory or competitive reasons. Itex has many clients from within the finance sector and as such we have to fulfil similar requirements for assurance in terms of financial information reporting and control, whether we simply offer real estate hosting services or full outsource services.

This accreditation demonstrates Itex’s commitment to providing quality service to our clients.”

Itex will be able to supply clients and their auditors with the Service Auditor’s Report hopefully negating the need for multiple audits.

As part of the Accreditation, Itex will be audited on an on-going basis.