SAS 70 and SSAE 16

The American Institute of Certified Public Accountants (AICPA) has seen the rise of SAS 70 from its humble beginnings in 1992 to that of an internationally recognized auditing standard used for reporting on controls at service organizations. The SAS 70 auditing standard has been a highly flexible and adaptive standard used throughout the globe for many years, and will now be superseded by SSAE 16, Statement on Standards for Attestation Engagements.

Much like ISAE 3402, SSAE 16 will require management to provide a written statement of assertion. It seems plausible to assume that one will see a slow migration from SAS 70 to SSAE 16, or likely to the ISAE 3402 standard for assurance reporting on service organizations.

NDB Accountants and Consultants will be providing relevant and current content regarding the migration from the SAS 70 standard to that of SSAE 16.