SSAE 16 audits
Communicating Control and Your Bottom Line
We understand that as a service organization, it is vital to your business to communicate to your customers and their auditors that your internal controls are suitably designed and are functioning properly.
Our firm can provide cost-effective solutions to address your reporting needs through either one of two types of Service Auditor Reports as prescribed by SSAE 16 (formerly SAS 70):
- Type 1: Reports on controls placed in operation - A service auditor's report on a service organization's description of the controls that may be relevant to a user organization's internal control as it relates to an audit of financial statements, on whether such controls were suitably designed to achieve specified control objectives, and on whether they had been placed in operation as of a specific date. Such reports may be useful in providing a user auditor with an understanding of the controls necessary to assess the risks of material misstatement and to design effective tests of controls and substantive tests at the user organization, but they are not intended to provide the user auditor with a basis for reducing his or her assessments of control risk as low or moderate.
- Type 2: Reports on controls placed in operation and tests of operating effectiveness - A service auditor's report on a service organization's description of the controls that may be relevant to a user organization's internal control as it relates to an audit of financial statements, on whether such controls were suitably designed to achieve specified control objectives, on whether they had been placed in operation as of a specific date, and on whether the controls that were tested were operating with sufficient effectiveness to provide reasonable, but not absolute, assurance that the related control objectives were achieved during the period specified. Such reports may be useful in providing the user auditor with an understanding of the controls necessary to plan the audit and may also provide the user auditor with a basis for reducing his or her assessments of control risk as low or moderate.
Service Organization Controls Reporting (SAS 70 Audits) That Delivers Real Value
In addition to the information that a SSAE 16 (formerly SAS 70) audit report provides to your customers and their auditors, your service organization can obtain real value through auditing process.
By working with our audit professionals, you can be assured that your internal controls will have been vetted in an objective manner and that any opportunities for improvements will have been identified and communicated to your team.
The bottom line: Armed with knowledge and candid insight into its controls, your organization will be better positioned to meet the demands of its marketplace and truly be a "best in class" services provider.
If our Service Organization Controls Reporting (SSAE 16 Audit) services are of interest, please contact us to schedule a non-binding consultation.