SAS 70 compliance ssae 16: Ensuring Trustworthiness of Sound Internal Controls
The Statement on Auditing Standards No. 70 or SAS 70 audit is an efficient and vigilant examination standard. It fulfills the point of an esteemed guidance and is not only a checklist of essential auditing standard. It is measured an extremely helpful and well-liked auditing tool which extensively exemplifies the intelligibility to industries with which service associations deal. Furthermore, by following this standard it in addition discloses the detail that the service organization has been reviewed expansively to its customers.
Major advantages from SAS 70 audits are: immediate credibility with present and potential clients, third party opinion, autonomous assessment of controls, potential to raise market share, lessening of third party self evaluation surveys, One audit report can gratify numerous clients, authentication that controls, processes, and methods are in place as administration aims. SAS 70 audits have turned out to be the global real standard in third party information safety guarantee.
The range of the SAS 70 audit is resolute by the service organization; though a well series of audit can make sure adequate information is offered to client organization and communicates rigorous controls over substantial security, ecological safety, official access and continuous accessibility of services, which evidently reveals organization’s excellence of service.
The American Institute of Certified Public Accountants (AICPA) has newly modernized the SAS 70 audit to more intimately align the standard with ISAE 3402; the novel standard is Statement on Standards for Attestation Engagements No.16 (SSAE 16) ‘Reporting on Controls at a Service Organization’ and will turn into efficient in June 2011. Obtaining SAS 70 compliance ssae 16 has allowed service organizations to inspire assurance and truthfulness openly into the hands of their clients, ensuring the trustworthiness of sound internal controls for amplified third party pledge.
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