by Janice Schopper, PEF Services
Verona, NJ, February 15, 2012: PEF Services LLC, a leading fund administrator for small and emerging private capital funds, is pleased to announce that it has successfully completed a service auditor’s examination of its internal control environment, known as a Statement on Standards for Attestation Engagement Reporting on Controls at a Service Organization (SSAE16 SOC1 Type II, formerly known as SAS 70). The SSAE16 examination helps illustrate to PEF’s clients that they continue to utilize sound operational and technology related processes and controls.
“As a middle market fund, we seek to partner with our investors providing the highest level of transparency and accuracy. We have used PEF as our outsourced fund administrator since our inception in 2005, with very good results. By having robust process and procedures, PEF helps us accomplish that goal.” said Bob Anders, managing partner of Plexus Capital.
SSAE16 SOC1 Type II is an attestation standard developed by the American Institute of Certified Public Accountants (AICPA). A service auditor’s examination performed in accordance with SSAE16 is widely recognized and represents that a service organization has been through an in-depth examination of their operations systems and processing controls, as well as their technology controls.
“As a SSAE 16 SOC1 Type II compliant company, we continue to demonstrate our commitment to providing our clients with the highest standard in processes, controls and procedures.” said Anne Anquillare, President and Founder of PEF Services LLC.
About PEF Services LLC
PEF Services LLC is the leading fund administrator for small and emerging private capital funds, providing high-quality, cost effective administrative solutions to over 100 funds. PEF provides fund administration services for venture, buyout, mezzanine, distressed, real estate, special purpose vehicles and fund of funds, with an expertise in emerging manager and SBIC funds. For more information, visit test.pefservices.com.