Taleo Successfully Completes SAS 70 Type I Audit of Taleo Contingent
Audit provides third-party validation that Taleo Contingent satisfies key management and operational standards required by Sarbanes-Oxley Act
SAN FRANCISCO – June 1, 2005 - Taleo Corporation, a worldwide leader of on demand talent management solutions, today announced the successful completion of its SAS 70 Type I audit for its contingent workforce management solution, Taleo Contingent. SAS 70 is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA). This standard helps companies to identify service organizations that comply with defined business processes and audit standards.
Taleo Contingent enables clients to optimally plan, source, evaluate, recruit, hire, manage and measure their contract and project workforce. Taleo's successful completion of this SAS 70 audit provides third-party validation that Taleo Contingent complies with the critical internal control standards required by Section 404 of the Sarbanes-Oxley Act.
By meeting the SAS 70 audit standards, Taleo Contingent clients, and their auditors are ensured Taleo Contingent satisfies specific management and operational standards that may be relevant to the audit of its customers' internal controls.
Taleo's SAS 70 audit, which was conducted by SAS 70 Solutions, an independent service auditor, focused on five key areas including control environment, risk assessment, monitoring, control activities and information and communication systems. The resulting Independent Service Auditor's Report concluded that Taleo Contingent had instituted the effective operational controls within these areas.
"The SAS 70 audit provides third-party assurance as to the controls placed in operation at a service organization," said Scott Price, president, SAS 70 Solutions. "The controls under review are those outsourced to a third party and impact their client's internal control environment. Companies may place more reliance on the controls at a service organization who has undergone a SAS 70 audit than a company that has not. By utilizing a firm specializing in performing SAS 70 audits, Taleo's controls are measured against best practice standards to provide feedback for continuous improvement of its services and controls."
"We are proud of this accomplishment because it reinforces our commitment to delivering only the best quality business practices to the client's we represent in the areas of contingent workforce management," said Michael Cruz, vice president, Taleo Contingent. "One of the most difficult areas for organizations to model is operational risk. The most often overlooked component of operational risk is the human factor associated with contingent processes. Taleo continues to help companies carefully evaluate human risk exposure within their organizations by providing regulatory compliance functionality for contingent workforce management through our advanced solutions."
About Taleo Corporation
Taleo delivers on demand talent management solutions to leading companies worldwide. Taleo enables organizations of all sizes to assess, acquire and manage their workforce for improved business performance. For the first time, Taleo arms HR executives and staffing directors with the capability to wring out talent management costs, respond more quickly to organizational demands and drive workforce quality. Taleo turns talent management into a source of value, competitiveness and workforce performance management. Taleo serves the world’s most demanding businesses and is one of the world’s largest Software as a Service Providers with more than 400,000 users across 87 countries and 24 million candidates from virtually all countries in the world.
Press Contacts:
Krista Canfield
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