Digital Realty Trust to Complete SOC2 Examinations of its U.S. Turn-Key Datacenters as Key Step in Adoption of New AICPA Standards SAN FRANCISCO, Aug. 25, 2011 /PRNewswire via COMTEX/ --
Digital Realty Trust, Inc. (NYSE:DLR, news, filings), a leading global wholesale datacenter provider, has launched an initiative to adopt the American Institute of Certified Public Accountants' (AICPA) new SOC2 reporting standards. Digital Realty Trust has engaged KPMG LLP to lead the adoption and compliance effort, which is intended to ensure the security of the Company's physical and environmental control systems according to the new standards established by the AICPA.
SOC2 is a new form of Service Organization Control (SOC) reporting defined by the AICPA to enable service organizations to provide assurance to their customers in areas including security, following the retirement of the legacy SAS 70 reporting standard. SOC2 is a mechanism for service organizations to report on the design and effectiveness of their security policies, communications, procedures and monitoring based on detailed criteria, providing customers with enhanced security protocols to protect their mission critical computing systems, intellectual property and confidential data.
"This SOC2 initiative will continue to ensure that our datacenter operations are compliant with industry best practices and the evolving needs of our customers," said Rebecca Brese, Vice President of Customer Service for Digital Realty Trust. "Security is an issue of the utmost importance to our customers. Our adoption of the AICPA's SOC2 criteria will provide an additional level of confidence for our customers that Digital Realty Trust is meeting or exceeding their business and technical standards."
"In the short time since the release of SOC2 in May, we have seen considerable momentum with planned adoption by cloud service providers and strong support from users of cloud, datacenter and other outsourced IT services," said Mark Lundin, KPMG's SOC2 and Cloud Assurance Lead Partner. "We believe that SOC2 will be a primary vehicle for providing third party assurance on security in 2011 and beyond."
About KPMG LLP
KPMG LLP, the audit, tax and advisory firm (www.us.kpmg.com), is the U.S. member firm of KPMG International Cooperative ("KPMG International.") KPMG International's member firms have 138,000 professionals, including more than 7,900 partners, in 150 countries.
About Digital Realty Trust, Inc.
Digital Realty Trust, Inc. focuses on delivering customer driven data center solutions by providing secure, reliable and cost effective facilities that meet each customer's unique data center needs. Digital Realty Trust's customers include domestic and international companies across multiple industry verticals ranging from information technology and Internet enterprises, to manufacturing and financial services. Digital Realty Trust's 97 properties, excluding two properties held as investments in unconsolidated joint ventures, comprise approximately 17.2 million square feet as of July 28, 2011, including 2.2 million square feet of space held for redevelopment. Digital Realty Trust's portfolio is located in 28 markets throughout Europe, North America, Singapore and Australia. Additional information about Digital Realty Trust is included in the Company Overview, which is available on the Investors page of Digital Realty Trust's website at http://www.digitalrealtytrust.com.
Safe Harbor Statement
This press release contains forward-looking statements which are based on Digital Realty Trust, Inc.'s current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including statements related to its initiative to adopt SOC2 reporting standards and the impact of the adoption of SOC2 reporting standards. These risks and uncertainties include, among others, the following: the impact of the recent deterioration in global economic, credit and market conditions; current local economic conditions in its geographic markets; decreases in information technology spending, including as a result of economic slowdowns or recession; adverse economic or real estate developments in its industry or the industry sectors that it sells to (including risks relating to decreasing real estate valuations and impairment charges); its dependence upon significant tenants; bankruptcy or insolvency of a major tenant or a significant number of smaller tenants; defaults on or non-renewal of leases by tenants; its failure to obtain necessary debt and equity financing; increased interest rates and operating costs; risks associated with using debt to fund its business activities, including re-financing and interest rate risks, its failure to repay debt when due, adverse changes in its credit ratings or its breach of covenants or other terms contained in its loan facilities and agreements; financial market fluctuations; changes in foreign currency exchange rates; its inability to manage its growth effectively; difficulty acquiring or operating properties in foreign jurisdictions; its failure to successfully integrate and operate acquired or redeveloped properties; risks related to joint venture investments, including as a result of its lack of control of such investments; delays or unexpected costs in development or redevelopment of properties; decreased rental rates or increased vacancy rates; increased competition or available supply of data center space; its inability to successfully develop and lease new properties and space held for redevelopment; difficulties in identifying properties to acquire and completing acquisitions; its inability to acquire off-market properties; its inability to comply with the rules and regulations applicable to reporting companies; its failure to maintain its status as a REIT; possible adverse changes to tax laws; restrictions on its ability to engage in certain business activities; environmental uncertainties and risks related to natural disasters; losses in excess of its insurance coverage; changes in foreign laws and regulations, including those related to taxation and real estate ownership and operation; and changes in local, state and federal regulatory requirements, including changes in real estate and zoning laws and increases in real property tax rates. For a further list and description of such risks and uncertainties, see the reports and other filings by Digital Realty Trust, Inc. with the U.S. Securities and Exchange Commission, including Digital Realty Trust, Inc.'s Annual Report on Form 10-K for the year ended December 31, 2010 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2011 and June 30, 2011. Digital Realty Trust, Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
|For Additional Information:|
|A. William Stein||Pamela M. Garibaldi|
|Chief Financial Officer and||Vice President, Investor Relations and|
|Chief Investment Officer||Corporate Marketing|
|Digital Realty Trust, Inc.||Digital Realty Trust, Inc.|
|+1 (415) 738-6500||+1 (415) 738-6500|
SOURCE Digital Realty Trust, Inc.