Gen II Fund Services Announces Service Organization Control Type 2 Compliance
February 28 2012
Gen II Fund Services, LLC, a leading independent private equity fund administrator, today announced it successfully completed an independent examination of its Administrative, Accounting and Reporting Services – Service Organization Control Type 2 (SOC 1) in accordance with Statement on Standards for Attestation Engagements No. 16 issued by the AICPA (SSAE 16 formerly SAS 70). A major international accounting firm examined the design and effectiveness of Gen II’s specified controls for the period January 1, 2011 to December 31, 2011.
Gen II has committed to annual certification of its control environment as a core element of its differentiated service model. “This is the third consecutive year that Gen II has achieved an unqualified report on its control environment and this commitment to excellence provides Gen II, its clients and their auditors with an independent assessment of the design and operation of its control environment,” said Gen II Chief Operating Officer Steven Alecia. “This becomes increasingly important as investors, fund managers and regulators intensify their focus on independent, transparent and quality operational procedures.”
Gen II’s service and control environment is developed and delivered in adherence with established industry best practices. For Gen II’s clients, the SOC 1 report provides them with confidence that Gen II has adequately described, in all material respects, its controls and, that its controls were suitably designed and operating effectively to achieve their specified objectives.
About Gen II Fund Services Gen II Fund Services, LLC is focused exclusively on providing superior fund administration services to private equity fund sponsors and investors around the world. The firm differentiates itself by its unique culture and experienced professional team who provide a comprehensive suite of fund administrative services and an unparalleled level of client service. For more information, please visit www.gen2fund.com.