What is the SAS 70 auditing standard, and why should I care?
The SAS 70 (“Statement on Auditing Standards No. 70”) is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA). Audit reports issued in accordance with SAS 70 provide a means for our clients who are subject to Sarbanes-Oxley (Section 404) to evaluate the effectiveness and significance of their service providers controls. Additionally, SAS 70 has been designated by the SEC as an acceptable method for the management at such companies to obtain assurance about a service organizations internal controls without conducting separate assessments. This results in significant audit cost savings for both parties. SAS 70s are the de facto standard for companies who use third party service providers and who are subject to Sarbanes-Oxley Section 404 for IT internal control assurance. For the same reasons, they are also valuable to private companies who use such service providers and who are planning on going public, preparing to b
