What is SAS 70?
In today's fast paced and complex business arena, a due diligence process is needed to assure corporation's of the safety and integrity of their data when being handled by a third party organization. SAS 70 audits provide this very assurance by examining, documenting, and if needed, testing a wide array of internal controls within these "service organizations". The passing of the Sarbanes Oxley Act of 2002 coupled with increased regulatory mandates and guidelines for businesses have propelled SAS 70 audits into the forefront of the business arena.
If you are an organization providing outsourcing services to a company, you may be called upon to have a SAS 70 audit. As stated by the American Institute of Certified Public Accountants (AICPA), a SAS 70 is an audit conducted to report on the "processing of transactions by Service Organizations." Reznick Group is a PCAOB Registered Firm.
