What is SSAE16 Audit and Why Do You require it?
A service auditor's examination executed in conformity with SSAE 16 ("SSAE 16 Audit") is largely identified, as it shows that a service organization has been using a comprehensive audit of their control objectives and control activities, which commonly feature controls over IT and connected processes. An SSAE 16 audit is an expanding industry, and here are three purposes you may require a SSAE 16 audit.
SSAE 16 Assures Every person That You Are Securing Your Customer's Info
One of the most beneficial assets business could have is accessibility to its customer's data, from consumer fads to monetary details. In today's worldwide economic, service organizations or service companies must show that they have sufficient controls and securities when they host or process financial details concerning their customers.
SSAE 16 Offers a Smooth Audit Designed To Operate For Customers and Their Auditors
SSAE 16 is the authentic guidance that enables service companies to divulge their control activities and procedures to their customers and their customers' auditors in a consistent reporting style. The issuance of a service auditor's report created in conformity along with SSAE 16 implies that a service organization has had its control goals and control activities reviewed by an independent accounting and auditing company. The service auditor's report, which consists of the service auditor's viewpoint, is delivered to the service organization at the end of a SSAE 16 assessment. To learn more about SSAE 16 and the new reporting requirements visit www.ssae16professionals.com.
SSAE 16 Is a Powerful and Comprehensive Audit
SSAE 16 audit is not a checklist audit. The SSAE 16 gives support to make it possible for an individual auditor ("service auditor") to give out an assessment on a service organization's summary of services through a Service Auditor's Report (see listed below). SSAE 16 does not define a determined set of objectives or activities that service companies have to attain.
SSAE 16 is normally appropriate when an independent auditor ("user auditor") is intending the financial statement audit of a body ("user organization") that acquires services from one more organization ("service organization"). Service organizations that influence an individual organization's system of internal controls might be application provider, bank trust departments, claim processing centers, information centers, 3rd party administrators, or various other data processing service agency.