News

MCG Completes SAS 70 Type II Audit to support CIP Compliance

Minneapolis, Feb 1, 2010: MCG Energy Solutions, LLC ("MCG") has successfully completed a SAS 70 Type II audit, an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA). This audit provides assurance that MCG follows policies, procedures, and business processes recognized as best practices for providing a secure, stable environment. This audit is also important to MCG's electrical industry customers who must comply with the North American Electric Reliability Corporation (NERC) Critical Infrastructure Protection (CIP) Standards, which went into effect at the end of June 2009. Each audited control was designed to comply with the CIP standards. Within the report each control makes a cross reference to each CIP requirement it meets.

"MCG has invested significantly in our infrastructure and internal processes from Day 1 of our entry into the marketplace as a provider of critical software for the wholesale electric industry through Software as a Service (Saas). Completing our SAS 70 and CIP audit is simply the final output that allows our clients to have an ongoing third party certification of MCG's investment and commitment to these standards and controls," stated Mike Prickett, MCG's CEO.

What is SAS 70?

Statement on Auditing Standards (SAS) No. 70, is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA). A SAS 70 audit or service auditor's examination is widely respected, because it demonstrates that a service organization has been through an in-depth audit of their control activities, which generally includes controls over information technology and related processes.