Wallem first to achieve SAS 70 certification

Hong Kong: Wallem Shipmanagement has become the world’s first third party ship management company to achieve SAS 70 certification, receiving accreditation for what the company described in a statement as ‘arguably the toughest process control standards.’

SAS 70 certification is the result of an in-depth audit examination of the effectiveness of a service organisation’s internal controls. Wallem Shipmanagement’s examination included crew management and procurement processes. Certification was achieved on 11 February 2009. Companies listed in the US are required to comply with the terms of the Sarbanes-Oxley Act (SOX) of 2002. SAS 70 certification is important to those companies using the services of Wallem Shipmanagement, as it gives the client independent assurances on the adequacy of internal controls and processes.

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