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SAS 70 Overview
Statement on Auditing Standards (SAS) No. 70, Service Organizations, is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA). A SAS 70 audit or service auditor's examination is widely recognized, because it represents that a service organization has been through an in-depth audit of their control activities, which generally include controls over information technology and related processes. In today's global economy, service organizations or service providers must demonstrate that they have adequate controls and safeguards when they host or process data belonging to their customers.
Service organizations, outsource providers, and third-party service providers are all experiencing the same demands from new government regulations and tighter scrutiny for their customers. There are continually more stringent requirements for handling insurance and medical claims, corporate financial data, confidential financial information, and personal information. These requirements are a direct result of Sarbanes-Oxley, HIPAA, and stricter audits by government agencies.
In order to satisfy these new requirements while also minimizing the cost and disruption to their organizations, many service organizations will undergo a SAS 70 Audit to provide a single independent report on the state of their internal controls to their customers. v 70 is the abbreviation for the American Institute of Certified Public Accountants (AICPA) SAS 70, titled “Reports on the Processing of Transactions by Service Organizations”. A SAS 70 defines the professional standards used by an Auditor to assess the internal controls of a Service Organization and issue an independent auditor’s report.
Secure DNA Consulting helps companies to prepare for favorable SAS 70 Audit opinions. Whether preparing for the first audit by identifying key objectives and designing controls, or assisting in remediating negative findings, Secure DNA Consulting provides expert guidance towards gaining a favorable SAS 70 Audit opinion. With careful preparation, the service organization stands to potentially save money in gaining a favorable audit, and reputation by avoiding negative findings in their SAS 70 Audit report. |
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Hawaii Statement on Auditing Standards (SAS) No. 70
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