DCV News

headweb-ene-2015-ssae-ing

gc-3-jaimefernandez-enero-2015-ing

For companies like Depósito Central de Valores, which administers third party information for the custody of securities it is essential to have an independent report regarding the compliance of its services, processes and operational controls. It is in this context that each year the organization submits to a thorough revision process based on the SSAE 16 standard (Statement on Standards for Attestation Engagements) which also includes its subsidiary, DCV Registros.

 

The SSAE 16 report –which replaces the previous SAS70-, is an international standard that allows the organization to show the control levels in relation to its clients’ information. Reports Type II are issued for DCV and DCV Registros, which means that together with the revision of the design, the auditors carry out tests of each of the controls in the companies themselves.

 

gc-jaimefernandez-enero-2015-ing

 

Each year a new tender process opens to define the auditing company. In 2014, the review was performed by EY. The auditors work together with the Accounting and Compliance Management of DCV and the controls review process is performed for a specific period, between January and November, wherewith it is possible to conclude with fair certainty whether these comply with what has been defined for them.

 

The complete report is available for the review of clients at DCV offices. The areas that examine the report are principally Risk, Audit, Critical Suppliers, Compliance and External Auditors on behalf of third parties.

 

The benefits of having this review are:

gc-2-jaimefernandez-enero-2015-ing

 

Jaime Fernández, Accounting and Compliance Manager emphasizes that the report “Is a certificate that validates our control designs and compliance with same. It is a way to ensure clients that the internal operation of DCV is well controlled, which is important for the security and reliability of the operation, and provides us significant support before our clients and market in general”.

 

DCV Noticias