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EPAM's multiple development locations are recognized as meeting the world's leading
security and infrastructure standards
SAS 70 Type II certification completed for the three
locations in Central and Eastern Europe, while the outsourcing leader becomes a
finalist for the International Business Awards in "Best MIS&IT"
category
Lawrenceville, NJ — August 5, 2008 — EPAM Systems,
Inc., the leading software
engineering and IT Outsourcing (ITO) provider, with delivery centers
in Central and Eastern Europe (CEE), announced today that its development center
in Kyiv, Ukraine, became an additional outsourcing location meeting the world’s
leading security standards. The Kyiv center has been recently assessed for the SAS
70 Type II requirements by Deloitte Co. Ltd., making EPAM the first company in Central
and Eastern Europe with three SAS 70 Type II location certifications, including
Budapest, Hungary, and Minsk, Belarus, and now Kyiv, Ukraine, with guarantees of
the highest operational security levels.
SAS 70, a Statement on Auditing Standards (SAS) No. 70, Service Organizations, was
developed by the American Institute of Certified Public Accountants (AICPA) as a
method to measure a service organization’s efficiency in providing due controls
over sensitive customer data. With the introduction of the Sarbanes-Oxley Act, which
defines means of regulating the controls over financial reporting, the Type II SAS
70 report has been identified as the only acceptable method for a third party to
assure a service organization's controls and financial transparency. Unlike a Type
I report, where the service auditor will express an opinion on controls as of a
specific date, in a Type II report the auditor gives an opinion on controls in effect
during a particular period of time, making the certification more challenging and
meaningful.
Upon the assessment completion, Deloitte’s Enterprise Risk Services Senior Manager
Ralph van Uden stated that all controls at EPAM’s Kyiv location were placed in operation,
suitably designed, and operating 100% effectively: "The local EPAM team was
well prepared and has been very supportive throughout the week to make sure that
we could finish our testing in time… We were pleased to see that all controls in
scope were tested to be operating effectively."
As the leading organization, deploying advanced technologies and adhering to the
strictest regulatory requirements, EPAM recently completed the beta program for
VMware’s Stage Manager, a breakthrough product for accelerating and automating the
delivery of applications from staging to production. This and other developments,
related to EPAM’s infrastructure and security, contributed to the most recent recognition
of EPAM by the Stevie Awards as the finalist in the "Best MIS and IT Organization"
category of the 5th annual International Business Awards, with the runner-up Accenture,
and the winner British Telecom Group.
"Deploying the IT infrastructure, that meets the stringent requirements for
customer data processing, compliant with the world’s leading security and infrastructure
standards, is a vital part of EPAM’s enterprise-wide program. It ensures that all
our operational facilities apply the same control objectives and management activities,
and leverages our investment into our clients’ competitive advantage," stated Balazs Fejes, EPAM’s CTO. "As the acknowledged software engineering and
IT outsourcing leader, EPAM continues to lead within the Central and Eastern European
market by setting a high standards bar throughout the region, and worldwide."
About the AICPA and SAS No. 70, Service Organizations
The American Institute of Certified Public Accountants is the national, professional
association of CPAs, with more than 350,000 CPA members in business and industry,
public practice, government, education, student affiliates, and international associates.
It sets ethical standards for the profession and U.S. auditing standards for audits
of private companies, non-profit organizations, federal, state and local governments.
It develops and grades the Uniform CPA Examination. The AICPA maintains offices
in New York, Washington, Durham, N.C., Ewing, N.J., and Lewisville, Texas.
SAS No. 70, developed by AICPA, provides guidance on the
factors an independent auditor should consider when auditing the financial statements
of an entity that uses a service organization to process certain transactions. It
also provides guidance for independent auditors who issue reports on the processing
of transactions by a service organization for use by other auditors.
www.aicpa.org
About EPAM Systems
Established in 1993, EPAM Systems, Inc. is the leading global software engineering
and IT consulting provider with delivery centers throughout Central and Eastern
Europe (CEE). Headquartered in the United States and serving clients worldwide,
EPAM provides software development and IT related services through its 4,500 professionals
deployed across client delivery centers in Russia, Belarus, Hungary, Kazakhstan,
and Ukraine.
EPAM's core competencies include complex software product engineering for leading
global software and technology vendors, as well as development, testing, maintenance,
and support of mission critical business applications and vertically oriented IT
consulting services for global Fortune 2000 corporations.
EPAM is ranked among the top companies in IAOP's "The
2008 Global Outsourcing 100" and in "2007
Top 50 Best Managed Outsourcing Vendors" by Brown-Wilson Group's
Black Book of Outsourcing. Global Services Magazine recognized EPAM in
its "2008 Global Services 100" list as the No.1 company in the "Emerging
European Markets" and included EPAM into the
global Top 10 "Best Performing IT Services Providers".
For more information on EPAM Systems, Inc., please visit
www.epam.com.
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