E4X Achieves SAS 70 Compliance

E4X Achieves SAS 70 Compliance

E4X Demonstrates Excellence in Internal Controls Over Security & Information Technology Processes

NEW YORK, Nov. 29 /PRNewswire/ -- E4X, Inc., a leading provider of multi currency services that facilitate global business by reducing the currency risks and complexities related to cross border sales and payments announced today that it has achieved SAS (Statement on Auditing Standards) 70 compliance. Developed by the American Institute of Certified Public Accountants (AICPA), SAS 70 is the standard used to measure the reliability of a service organization's internal control activities over its information technology and processes. An independent accounting and auditing firm has documented that all of E4X's internal controls, including physical and logical security have been suitably designed and operate effectively according to SAS 70 requirements.

In today's global economy, organizations must demonstrate that they have adequate controls in place for their operations, especially due to Section 404 of the Sarbanes-Oxley Act. E4X's SAS 70 compliance attests to effective operational controls and will save customers the expense of conducting a third party audit to assess E4X's environment.

"E4X was founded on the vision of helping companies expand their business to global marketplaces, while reducing the risks associated with currency exchange and multi currency payments," said Yuval Tal, CEO, E4X. "Achieving SAS 70 compliance reflects on E4X's ability to meet the dynamically changing needs of its customers."

About SAS 70

For information about the Statement on Auditing Standards (SAS) No. 70, developed by the American Institute of Certified Public Accountants (AICPA), please visit www.sas70.com

About E4X, Inc. -- E4X, Inc. provides multi currency services that facilitate global business by reducing the currency conversion complexities related to cross border sales and payments. With E4X, businesses allow global customers to shop and purchase in local currencies, pay global vendors in the vendors' operating currencies and receive payment in their currency of choice. E4X's comprehensive solutions enable companies of all sizes to expand globally while reducing foreign exchange risks, costs, and accounting complexities and easing the burden of reconciliation and reporting. Founded in 1999, E4X is based in New York and is privately held. The company operates a research and development facility in Tel Aviv, Israel. For further information, visit www.e4x.com.


Source: E4X, Inc.

CONTACT: Iris Shechter of E4X, Inc., +1-212-299-3570, or iris@e4x.com

Web site: http://www.e4x.com/


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