CONEXIS Retains Big Four Auditing Firm for Stringent SAS 70 Audit

Business Wire, Jan 24, 2008

National Leader in Benefits Administration Excels on Tough Audit Conducted by Big Four Auditing Firm

DALLAS -- CONEXIS, a Word & Brown company and the national leader in quality in the complex areas of COBRA/HIPAA, Flexible Benefits, Direct Bill and other administrative services, retained a Big Four auditing firm in 2007 for a SAS70, Type II audit performed under the American Institute of Certified Public Accountants (AICPA) SAS 70 Type II exam standards.

This is the fifth consecutive year CONEXIS has independently requested and passed an audit using SAS 70 standards. The SAS 70 exam standards are internationally recognized for reviewing an organization's internal controls, including controls over information technology, security, and finances. Successful completion of an audit using these standards serves as notice to companies and consumers that a service organization is properly collecting, storing, and reporting data.

"We're very proud of our results from the SAS 70 audit," said Michael Close, President of CONEXIS. "By partnering with a Big Four firm to perform the audit, we provide additional assurance to our clients that CONEXIS is dedicated to delivering quality services that help them achieve their compliance requirements, including the Sarbanes-Oxley Act."

The Sarbanes-Oxley Act, also known as the Public Company Accounting Reform and Investor Protection Act of 2002, was signed into law in 2002 by President George W. Bush. It launched widespread changes in how companies report information, particularly financial information.

About CONEXIS

CONEXIS provides benefits solutions to more than 20,000 clients nationwide, representing more than 5 million covered lives. For more than 20 years, CONEXIS has delivered a wide range of employee benefits administration solutions to clients ranging from small businesses to multi-national corporations, third-party administrators (TPAs), business outsourcing partners and health plans. With a dedicated focus on performance, service excellence, and compliance, its expertise includes COBRA and HIPAA Administrative Services; Direct Bill Services; and Flexible Benefits Administration, including Flexible Spending Accounts (FSA) and Section 132 Commuter Benefits.

CONEXIS was the nation's first outsourcing provider to offer benefits administration on a single Web-based, fully-integrated system and is the only benefits administrator to offer performance standards and guarantees to all clients, regardless of company size. Headquartered in Dallas, Texas, with offices in Orange, Calif., CONEXIS is a Word & Brown company. For more information, visit the company's Web site at www.conexis.com.