Vistra Depositary Services Receives ISAE 3402 Type 2 Assurance Report

AMSTERDAM - March 2, 2016 - PRLog -- Vistra Depositary Services, part of Vistra Group – one of the world’s leading corporate service providers of international incorporations, trust, fiduciary and fund administration services, today announced that it has received the International Standard on Assurance Engagements (ISAE) 3402 Type 2 assurance report relating to internal control procedures. The assurance report was issued by Mazars.

There are two types of ISAE 3402 reports: Type 1 refers to the design and existence of internal management measures, and Type 2 certification which reports on the effective functioning of internal management measures over a defined period.

Peter Soesbeek, leading Vistra’s Depositary Services team, stated: “Gaining this assurance report specific to our Depositary Services demonstrates our continuing commitment to the quality and robustness of our service offering. This is an important milestone for us as a leading provider of depositary services to onshore and offshore alternative investment funds.”

ISAE 3402 is a global assurance standard for reporting on controls at a service organisation. It was developed by the International Auditing and Assurance Standards Board (IAASB) to provide a standard that auditors can use to ensure the integrity of an organisation’s internal controls. The examination report is issued by an independent accounting and auditing firm and covers an examination of the description of the system, the design of the controls and the operating effectiveness of controls over a period of time.