When did SSAE 16 replace SAS 70?

April 2010
Why did SSAE 16 replace SAS 70? In an effort to move toward international accounting standards, the AICPA issued Statement of Standards for Attestation Engagements 16 (SSAE 16) in April 2010. It replaced SAS 70 and was designed to closely mirror International Standard on Assurance Engagements 3402 (ISAE 3402).

Does SAS 70 still exist?

SAS no. 70 has been divided and replaced by two new standards. One is a Statement on Standards for Attestation Engagements (SSAE) also known as an attestation standard; the other is a SAS (an auditing standard). The requirements for reporting on controls at service organizations has been placed in SSAE no.

What is the difference between SAS 70 and SSAE 16?

What’s the difference between SSAE 16 and SAS 70? One of the key differences between the SAS 70 and the SSAE 16 is that the SAS 70 is an “auditing” standard, whereas the SSAE 16 is an “attestation”.

How do I get SSAE 16 certified?

SSAE 16 is designed for service organizations and is often required by the client in order to gain insight into the company. This certification is gained after a company has had an audit of internal controls at a service organization that may relate to their client’s internal control over financial reporting.

What is SAS 70 compliance?

What is SAS 70? SAS 70– is an internationally recognized third party assurance audit designed for service organizations. It has become the most widely accepted compliance initiative that provides service organizations a benchmark to compare their internal controls and processes against industry best practices.

Is SSAE 16 required by law?

The need for SSAE 16 certification differs from enterprise to enterprise and depends on the goal of the company. For example, if a company runs a data center that provides internal resources for employees on product development, then SSAE 16 certification might not be needed.

What is the difference between SAS and SSAE?

SAS 70, Cruising with The Auditing Standard One of the key differences between the SAS 70 and the SSAE 16 is that the SAS 70 is an “auditing” standard, whereas the SSAE 16 is an “attestation”.

Who needs a SSAE 16 report?

What is SSAE 16 Type II audit?

SSAE-16 SOC 2 Type 2 stands for Standards of Attestations Engagement No. 16, System and Organizations Controls Report 2, Type 2. This AICPA-developed auditing report assesses how well organizations handle data security, system privacy, data confidentiality and data processing processes.

What is SAS 70 Type II audit?

SAS 70 Type II / SSAE 16 is an auditing statement or report (not a certification) that is conducted by a neutral third party auditing firm for the purpose of providing transparency to the customer/prospect as to what exactly service company (or hosting company in this case) is doing.