ISAE 3402 / SSAE 16 certification

Since 2003, SMBC Nikko Bank Luxembourg has engaged the accounting and auditing firm Deloitte Luxembourg, to conduct a former Statement on Auditing Standards (SAS) No. 70 (commonly referred to as "SAS 70") and current combined report including International Standard on Assurance Engagements (ISAE) 3402 and Statement on Standards for Attestation Engagements (SSAE) No. 16.  Both the former SAS 70 reports and the ISAE 3402/SSAE 16 report is a Type 2 examination covering the period from 1 January to 31 December.  ISAE 3402 and SSAE 16 are internationally recognized assurance/attestation standards developed by the International Federation of Accountants (IFAC) and The American Institute of Certified Public Accountants (AICPA) respectively and are used as the standard for auditors to examine a service organization's controls related to their user entities' internal control over financial reporting.

The examination report is issued by an independent accounting and auditing firm and covers an examination of the description of the system, the design of controls and the operating effectiveness of controls over a period of time. Our examination period has been fixed at one year and a formal report is issued on a yearly basis, covering the period end of December of each year.