Why is SAS 70 becoming a must-have audit?
Although SAS 70 was issued in 1992, demand for this type of audit has increased dramatically since the passing of the Sarbanes-Oxley Act of 2002, which set new requirements for corporate accountability and internal controls. SAS 70 is now often required by publicly held companies that outsource business related to their financial statements and accounting records. Service providers without SAS 70 audits risk losing business from those customers. And, SAS 70 provides a compelling point of difference for your firm when you’re talking to prospects and clients at privately held companies—they’ll have peace of mind knowing that an independent auditor has certified that your internal controls are of the highest standards.
