Statement on Standards for Attestation Engagement No.18 (SSAE 18)
Radius is serious about protecting our clients’ data. We’ve implemented robust internal compliance controls and engage third parties to ensure those controls conform to the highest standards.
Radius engages an independent accounting firm to produce Statement on Standards for Attestation Engagements No. 18 reports. SSAE 18 reports superseded SSAE 16 reports effective in May 2017, and require additional controls, such as those related to monitoring subservice organizations. In short, SSAE 18 reports let you know our financial reporting controls are strong and reliable. In many cases, our clients’ external auditors can use these reports (free of charge) as objective evidence of the adequacy of our controls, eliminating the need for costly audits.
Here are the two SSAE 18 reports Radius commissions annually.
- SSAE 18 SOC 1 Type 2 Report. This report provides our clients with assurance that adequate key financial controls are in place at Radius’ India-based Centers of Excellence. Radius’ Centers provide payroll, expense reimbursements, tax preparation, vendor-invoice payments, the production of monthly management accounts and other services. The report also attests that the controls over our global IT environment are adequate. Radius has commissioned these reports (previously referred to as SSAE 16 SOC 1 Type 2 and, before that, as SAS 70) since 2011.
- SSAE 18 SOC 2 Type 2 Report. This report provides our clients with assurance that the controls governing Radius’ OverseasConnect software platform are adequate. It comments upon the suitability and operating effectiveness of our controls to meet the Trust Services Principles criteria for Security, Availability, Processing Integrity and Confidentiality. Radius began commissioning SOC 2 reports in 2017.
For more information about Radius’ SSAE 18 attestation, including how to receive a complimentary report, please contact us.