IPD, a subsidiary of MSCI Inc., announced today that it has received an “unqualified opinion” on the design and operating effectiveness of the controls that support the delivery of its UK, Dutch, and North American Indices, as well as its Portfolio Analysis Service (PAS) in these regions and its UK Funds Service. The opinion has been issued under the International Standard on Assurance Engagements (“ISAE 3402”) in Europe, and the Statement of Standards for Attestation Engagements No. 16 (“SSAE16”) in the United States.
This audit was commissioned by IPD through the independent Business Audit Committee, which comprises four senior industry representatives supported by three IPD Directors. The Committee’s mandate is to initiate and oversee the business process reviews; internal and external data audits; receive the reports on each of these projects; and to advise the former IPD Group Board and IPD management on how to leverage these reports.
Michael Brodtman, Chairman of the Business Audit Committee and Executive Director at CBRE, said, “Completing the examination is an excellent achievement for IPD and clients will take great comfort from it as confirmation of the high standards of data collection, accuracy and data protection. Having chaired the Business Audit Committee since 2008, I have seen first hand the rigorous approach with which IPD handles all data issues – as well as its determination, year on year to increase the accuracy of all indices, benchmarks and reports.”
The IPD business auditor, Deloitte LLP, examined IPD’s design of controls and tested the operational effectiveness related to the PAS operations and the software platforms that support data processing and client reporting between 1 September 2011 and 31 August 2012.
Laurent Ternisien, Group Managing Director, IPD said, “We are very pleased to have received recognition of the high standards that IPD sets itself. This will help to strengthen our reputation for putting in place mature internal controls and measures, and enhance our position as a leading competitor in real estate analytics. Furthermore, it demonstrates our commitment to respect the trust placed in us by our clients.”
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