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HarbourVest issues SAS 70 internal control report

Private equity firm HarbourVest Partners has successfully completed a SAS 70 review and issued a Type II SAS 70 report.

The firm’s independent auditor conducted the SAS 70 review, which covered the period from 1 April 2009 to 30 September 2009. 

The report documents controls across the firm’s operations including investment policy, reporting to clients, capital calls, distributions, cash management, and financial records. 

HarbourVest is one of the first independent private equity managers to issue a SAS 70 report.

“Our clients recognise and value HarbourVest’s focus on controls and our initiative to complete this voluntary SAS 70 review,” says Martha Vorlicek (pictured), managing director and chief operating officer of HarbourVest. “While HarbourVest has always focused on a strong internal control environment, the Firm’s investors and their consultants and auditors have increased their focus on controls, especially following the events of the past 18 months.”
 
SAS 70 (Statement of Auditing Standards No. 70) is an internationally recognised auditing standard developed by the American Institute of Certified Public Accountants. A SAS 70 report enables an independent auditor to review a service provider’s controls.

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