The Conifer Group, a provider of fund administration, middle office, trading and prime brokerage services, after an independent examination by accounting firm, BDO USA, LLP., has successfully completed its examination under the Statement on Standards for Attestation Engagements (SSAE) 16 Type 2.

Focusing on the Conifer Fund Services divisions in the US and British Virgin Islands, the examination evaluated the effectiveness of control processes within Conifer’s portfolio accounting, fund administration, managed application service hosting and middle- and back-office service infrastructure.

CEO of Conifer, Jack McDonald, commented, “Conifer’s ongoing investment in operations and technology, namely the development of our new cloud-based product offerings, will ensure that our products continue to evolve ahead of industry and regulatory needs."

SSAE 16 replaces the former SAS 70 standard. It is an internationally recognized reporting standard developed by the American Institute of Certified Public Accountants (AICPA) that reports on a service organization’s controls over services it provides to user entities when those controls are likely to be relevant to user entities’ internal control over financial reporting. 

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