Learning Center
Plans & pricing Sign in
Sign Out

SAS 70


									?SAS 70 is a term for Statement on Auditing Standard 70 and it was enhanced and
maintained by the American Institute of Certified Public Accountants (AICPA).
Typically, the SAS 70, Report on the processing of Transactions by Service
Organizations, assesses the inner controls of organization's services and where the
standards of professionals are being set up for an auditor's service that is auditing.
An organization related to services can be termed as an industry that gives
outsourcing services. Outsourcing services impact the customers' environment control.
At number of service organizations can be assurance processors' claim, processing
credit companies, clearing houses, and data centers.
SAS 70, in most cases, is not a checklist that is barebones audit. It is an overly
thourough audit that is chiefly used as a guidance authorization. Nowadays, it is very
useful audit that appears a transparency to industries that a organization's services
functions with. Moreover, it is visualized that the organization service prospective
employers has been smoothly checked to have a controls that is satisfactory.
SAS 70 is apprizingly famous with the maintenance of Sarbox Act. Sarbox,
Sarbanes-Oxley Act, also called as Sox adds significance in maintaining the SAS 70
as a significant resource to give the efficiency of the internal controls of a
organization services and the safeguards of the data security.

There two kinds of the SAS 70 Reports. The Type I provides a suggestion that is
written by the auditor in services. It defines the degree where the organization
services fairly provide the services related to the controls that have been maintained in
inherent designs and operations to reach the certain objective.
Type II are similar to the first, Type I, but there is additional section that includes the
opinion of the service auditor on how the controls efficiently functions from a
determined period of time while review is on going.
Take note that there is still a difference between Type I and Type II even if it is
minimal. This is because the of the auditor's opinion. The Type I only includes the
lists of the controls while the Type II reports tests effectiveness of the controls to
make it sure that they function very well. Type II has a requirement of a smooth audit
and there has a larger expense rate than the Type I.

The Report of the Auditor is the most efficient ways to serve organizations that is
communicating on controls data.

For more information about SAS70 try visiting /sas70.html and learn more on
Statement on Auditing Standard 70 .

To top