Why is SSAE 16 replacing SAS 70?
In an effort to move toward international accounting standards, the AICPA issued Statement of Standards for Attestation Engagements 16 (SSAE 16) in April 2010. It replaces SAS 70, making SSAE 16 the de facto standard for reporting on internal controls at service organizations. SSAE 16 is designed to closely mirror International Standard on Assurance Engagements 3402 (ISAE 3402). This change is intended to provide user organizations and their auditors improved assurance about the reliability of controls throughout the reporting period. It will be required for all service organization control reports with periods ending June 15, 2011, or later, although earlier adoption is permitted.
