Service Providers and SAS 70 Reports Understanding Requirements, Compliance and Benefits

This SAS 70 training will provide a Process of SAS 70 Audit, frequency & formatting of documenting controls in COSO and COBIT and SAS 70 Report types and impact of Sarbanes-Oxley to create the demand for SAS 70 audits.

To further optimize compliance efforts, those companies are also increasingly requesting that other service organizations wishing to do business with them first produce a SAS 70 Type II report. For service organizations, those trends make the SAS 70 Type II report a client retention issue, and a new business development tool. Not conducting a SAS 70 audit could present current and future risks. If a service organization has not conducted a SAS 70 type II audit, it should consider undertaking one now. That consideration begins with understanding the general requirements of SAS 70.

What Attendees will Learn:

• What a SAS 70 Report is and who can issue it.
• What type of entities are candidates for SAS 70 audits
• The difference between a SAS 70 Type I and Type II Report
• How Sarbanes-Oxley has impacted the demand for SAS 70 audits
• How a SAS 70 Audit process works and frequency of reporting
• Format for documenting controls - COSO and COBIT.
• Benefits - customer confidence, third party assurance benefit

Who Will Benefit:

Any company that executes and maintains accountability of transactions, records transactions and processes information and impacts the client’s financial reporting are candidates for SAS 70 audits.

• Application service providers
• Managed security providers
• Trust departments
• Claims processors
• Clearinghouses
• Credit processing
• Data hosting facilities