What industries are requesting SAS 70 services?
Since the downfall of Enron, there has been an outcry for more sound governance practices. The impact of SOX has resulted in pressures on service organizations to obtain a SAS 70 audit. Any organization (large or small, for-profit or nonprofit) that has a financial statement audit and uses a service organization could benefit from obtaining a SAS 70 report for their service auditor. If applied correctly, the report shows evidence of financial reporting controls and the safeguarding of confidential information. Many industries are now requiring vendors to obtain SAS 70 audits, including financial service companies, construction and real estate, dealership, health care, insurance, nonprofit and government, manufacturing and distribution, trucking and transportation, etc. Not only has SOX affected the banking and health care industries, but lately these industries have received a lot of negative attention for being targets of cyber thieves who use their confidential data for fraud and ide
