Chevy Chase, Maryland – November 19, 2010: Nolan Financial Group today announced that, for the fifth consecutive year, its Non-Qualified Plan Administration Unit received an unqualified SAS-70 Type II Report within the American Institute of Certified Public Accountants’ (AICPA) internationally recognized auditing standard known as SAS-70 (Statement of Auditing Standards No. 70). The examination is conducted annually by independent auditors in order to test the effectiveness of a company’s internal controls.
Nolan Financial’s receipt of an unqualified SAS-70 Type II Report provides assurance to plan sponsors and their independent auditors of the effectiveness of Nolan Financial’s plan services control environment. This eliminates the need for plan sponsors to incur the expense of testing these controls.
“Our initial SAS-70 Type II Report was unqualified and each report since has been unqualified. It’s quite an accomplishment to have five SAS-70 Type II Reports with absolutely no exceptions,” said Michael E. Nolan, President and CEO of Nolan Financial. “Our ability to meet the strict standards required to receive an unqualified SAS-70 Type II for five consecutive years reaffirms Nolan Financial’s ability to cost-effectively manage the complexities and mitigate the associated risks with recordkeeping informally funded and unfunded non-qualified deferred compensation plans. This extraordinary feat is a credit to the professional team we have maintained at Nolan Financial.”
About Nolan Financial
For more than twenty years, Nolan Financial has specialized in the custom design, enrollment, funding and administration of non-qualified retirement plans for the benefit of the senior executives of mid to large size public, private and tax exempt organizations. Nolan Financial is a national practice with offices in Maryland, Pennsylvania and North Carolina and is affiliated with Lincoln Financial Advisors Corp.
Registered associates of Nolan Financial Group are registered representatives of Lincoln Financial Advisors Corp. Lincoln Financial Advisors does not offer legal or tax advice. Securities offered through Lincoln Financial Advisors Corp., a broker/dealer. Insurance offered through Lincoln affiliates and other fine companies. Branch Office: 2 Wisconsin Circle, Suite 810, Chevy Chase, MD 20815. CRN: 201011 – 2048390