New York, 15 November 2023 – The Citco group of companies (“Citco”) is pleased to announce, that for the year ended September 30, 2023, Citco Corporate Solutions companies have successfully received a System and Organization Controls 1 (“SOC 1”) Type #2 certification from an independent auditing firm for the third consecutive year. The examination in respect of the processes and controls within the Citco Corporate Solutions offering resulted in the provision of an unqualified audit opinion from an independent audit firm.
The 2023 SOC 1 Type #2 Report has been prepared in accordance with the guidelines contained in the United States Statement Attestation Standards of the American Institute of Certified Public Accountants (“AICPA”) and International Standard on Assurance Engagements (“ISAE”) 3402 and its related amendments and interpretations.
The overall scope of the 2023 SOC 1 Type #2 Report covers Citco’s operations that provide Corporate Accounting Services in relation to Real Estate and Private Equity entities using the Yardi platform. The independent examination consisted of an evaluation of the design and operating effectiveness of the following controls:
From a Corporate Accounting Services perspective, the examination included:
- Journal Entries;
- Cash Reconciliation;
- Investment / Property Accounting;
- Investment / Property Valuation and Related Profit & Loss;
- Loan / Investment Interest Accounting;
- Accounting package review and approval; and
- Financial Statement Reporting.
From an Information Technology perspective, the examination included:
- Change management;
- Backup, restoration and replication;
- Logical security; and
- Incident management.
The completion of the SOC 1 examination demonstrates the continuing commitment of Citco Corporate Solutions to quality and confidentiality, and demonstrates, that Citco Corporate Solutions continues to maintain a high level of internal control.
The Citco group of companies welcomes any inquiries that our clients may have with respect to the 2023 SOC 1 Type #2 Report.