Citco announces completion of the Corporate Accounting and Payment Services SOC 1 report

28 February 2017 – The Citco Group of Companies (“Citco”) is pleased to announce, it has successfully received a Service Organization Control 1 (“SOC 1”) Type #1 certification from an independent auditing firm for its Corporate Accounting and Payment Services offering provided by Citco Vilnius UAB as at December 31, 2016. The examination in respect of the processes and controls within the Corporate Accounting and Payment Services offering resulted in the provision of an unqualified audit opinion from an independent audit firm.

The 2016 SOC 1 Type #1 Report has been prepared in accordance with the guidelines contained in the United States Statement on Standards for Attestation Engagements (“SSAE”) No. 16 and International Standard On Assurance Engagements (“ISAE”) 3402 and its related amendments and interpretations.

The overall scope of the 2016 SOC 1 Type #1 Report covers Citco Vilnius UAB’s operations that provide Corporate Accounting and Payment Services to Private Equity and Real Estate clients. 

For 2016, the independent examination consisted of an evaluation of the design of the following controls:

From a Corporate Accounting and Payment Services perspective, the examination included controls relating to:

  • Periodic Management Accounting;
  • Financial Statement Reporting; and
  • Payment Processing.

From an Information Technology perspective, the examination included controls relating to:

  • Change management;
  • Back-up, retention, restoration and replication;
  • Logical security;
  • Physical security;
  • Incident management; and
  • Job scheduling and system monitoring.

The completion of the SOC 1 examination demonstrates Citco’s continuing commitment  to quality and confidentiality, and demonstrates, that Citco continues to maintain a high level of internal control.

Citco welcomes any inquiries that our clients may have with respect to the 2016 SOC 1 Type #1 Report.