Yardi Completes Second Annual SAS 70, Type II Audit


SANTA BARBARA, CA, December 1, 2005 — Yardi Systems announces completion of its second annual Statement on Auditing Standards (SAS) 70 audit by Deloitte & Touche following an in-depth examination of control activities for the period October 1, 2004 through September 30, 2005.

Following up on its 2004 audit, Yardi worked with Deloitte & Touche on a twelve-month audit in 2005 to ensure continued accuracy and provide due diligence security checks on controlled activities such as access, authentication and intrusion detection needed to verify security for processes. Deloitte & Touche audited Yardi’s service controls for the twelve-month period ending September 30, 2005. “If we choose a six-month audit and the controls slip up during the second half of the year, the accuracy and reliability of clients’ own year-end attestation could be compromised,” says Scott Wiener, Vice President of Information Technology, Yardi.

The Services Auditor’s Report is one of the most effective ways a service organization can communicate information about its controls. There are two types of Service Auditor’s Reports: Type I and Type II. Yardi Systems’ auditors conduct annual Type II Service audits, which include a description of controls, as well as a detailed audit of those controls, over the relevant twelve-month period. The provisions of the Sarbanes-Oxley Act of 2002 make SAS 70 audits even more important to support reporting by publicly held corporations on their internal controls. For more information about the Yardi SAS 70 audit, please contact Yardi at 800-866-1144 or e-mail [email protected].

About SAS
Statement on Auditing Standards (SAS) No. 70, Service Organizations, is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA). SAS 70 audits, or service auditor’s examinations, are widely recognized and provide an in-depth audit of control activities that generally include controls over information technology and related processes. For more information about (SAS) No. 70, Service Organizations, please visit www.sas70.com.

About Yardi
Yardi Systems, Inc. is the global leader in the design, development and support of asset and property management software for multinational organizations of all sizes. Yardi Systems’ innovative technology and services are client-driven and enhance workflow by integrating property management, financial reporting and a centralized database into one system.

Yardi is a privately held corporation with headquarters located in Santa Barbara, California and regional offices throughout North America, Europe and the Asia-Pacific region. More information about Yardi products and services may be found by visiting www.yardi.com.

Trade Media Contact: Joel Nelson 805.699-2040, ext. 1255