SOC 1 Examination Completed – Officially SOC Compliant

Chicago, Illinois – March 2014 – Houlihan Capital, a financial advisory and boutique investment banking firm, that provides independent and defensible opinions of value that meet accounting and regulatory requirements, announced today that it has completed a SOC 1 (Service Organization Control) Type 1 examination. The examination was performed by McGladrey LLP, a global provider of assurance, tax and consulting services focused on the middle market that specializes in risk advisory services, including conducting an organization’s SOC 1 examinations.

The AICPA SOC 1 Report (formerly SAS 70 Report) is an internal control report on the services provided by a service organization and provides valuable information that existing and potential customers of the service organization need to assess and address the risks associated with an outsourced service. Companies who complete an annual SOC 1 examination are able to demonstrate a substantially higher level of assurance and operational visibility than those companies who do not.

Both the Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB) have continued to focus on how management supports, and how auditors audit, the valuation of illiquid assets when companies use independent third-party valuation providers. For compliance with the Sarbanes Oxley Act relating to internal controls over financial reporting, management should assess the risk of material misstatement relating to estimating fair value measurements. In response to mitigating such internal control risks, Houlihan Capital completed this SOC 1 examination, to support our professionals, among the most knowledgeable and responsive in the industry.

The completion of the SOC 1 Type 1 examination typifies Houlihan Capital’s continued commitment to create and maintain the most stringent controls needed to ensure the highest quality and security of services provided to their customers. The Independent Service Auditors’ Report issued by McGladrey LLP, with an unqualified opinion, demonstrates that Houlihan Capital’s control activities were effectively placed in operation as of the report date.

“We are pleased that we have completed our SOC 1 examination, which illustrates that we have the appropriate controls in place to mitigate risks related to material misstatements of user entities’ financial statements” said Jules Pomerantz, Chief Financial Officer. “This report shows our commitment to our clients, our strong risk-management principles, and our desire to stay at the forefront of industry best practices.”

Houlihan Capital is a leading, solutions-driven valuation, financial advisory, and boutique investment banking firm committed to delivering superior client value and thought leadership in an ever-changing landscape. The firm has extensive experience in providing fairness and solvency opinions, and objective, independent and defensible opinions of value that meet accounting and regulatory requirements. Our clients include some of the largest asset managers, private equity funds, hedge funds, fund administrators, and both public and private operating companies, who benefit from our comprehensive valuation and financial advisory services. Houlihan Capital is a Financial Industry Regulatory Authority (FINRA) and SIPC member, committed to the highest levels of professional ethics and standards.

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