Learn about important SSAE 16 Audit Requirements from NDB Accountants & Consultants
Atlanta, GA (PRWEB) February 18, 2013
NDB Accountants & Consultants (NDB), a nationally recognized PCAOB CPA firm specializing in regulatory compliance has just announced the publication of their comprehensive SSAE 16 audit requirements technical white paper, which can be found at ssae16.org. Businesses, auditors, state and federal regulators – and any other interested parties – will find an abundance of valuable information regarding the much-talked about AICPA SSAE 16 standard.
The SSAE 16 audit requirements technical white paper covers the following essential points:
1. The Evolution of SSAE 16. The SSAE 16 attestation standard came about for a number of important reasons, such as the migration towards globally accepted accounting principles, and other relevant issues.
2. The AICPA SOC framework. Service Organization Control (SOC) reports consist of SOC 1, SOC 2, and SOC 3 reporting, which is a radical departure from the historical stand-alone SAS 70 auditing standard.
3. Differences between SSAE 16 Type 1 and Type 2 Reporting. There are notable differences between SSAE 16 Type 1 and Type 2 reporting that all service organizations should be aware of.
4. Description of its “system”. Management of the service organization is required to provide a description of its “system."
5. Written statement of assertion by management. Along with the description of its “system," management of the service organization must also provide a written statement of assertion.
6. Subservice organization reporting. Service organizations also receive services from other service organizations - hence the issue of “subservice organization reporting” – specifically that of the “inclusive” and “carve out” methods – are important points to note.
7. The Internal Audit Function. Many service organizations actually have internal audit personnel that may very well play a key role for purposes of SSAE 16 audit requirements.
Want to receive a competitive, fixed-fee for SSAE 16 Type 1 and Type 2 reporting? Then contact Christopher G. Nickell, CPA, at 1-800-277-5415, ext. 706, or email him at cnickell (at) ndbcpa (dot) com.