Societe Generale Securities Services (SGSS) has obtained ISAE 3402 Type II certification for its internal control procedures.
The standard was published by the International Auditing and Assurance Standards Board (IAASB) in December 2009, replacing the SAS 70 standard from 2011.
The compliance and efficiency of SGSS' internal control procedures have been verified by two independent external bodies in four of its different geographical entities:
- by the audit and consulting firm Deloitte, for the custody, depository and trustee activities, and the fund administration services of SGSS in France and Luxembourg as well as its subsidiary, European Fund Services, Luxembourg.
- by the auditors Ernst & Young, covering the SGSS subsidiaries in Germany, for its fund administration and transaction processing systems, and in Italy, for its custody, depository and trustee activities, as well as for fund administration and transfer agent services.
