SAS 70 Overview Presentation and Discussion
A sas 70 overview presentation would not be complete without a thorough discussion of the origins of Statement on Auditing Standards No. 70, commonly known as SAS 70. Though the SAS 70 auditing standard was put forth in 1992, it’s roots were laid years before by previous auditing standards. People often ask me, “what is SAS 70, is it an audit, a process, some kind of accounting rule?
To be fair, it’s a little of everything. In simple terms, its an auditing standard used by auditors for doing an audit. To get a little more technical, its an auditing standard that is used for testing a company’s internal control framework. Some auditors may give you the technical jargon that it’s about “reporting on control placed in operation and tests of operating effectiveness”. Keep in mind that if you hear this, it’s just us auditors giving you the long-winded technical description of what a SAS 70 Type II audit is.
And don’t forget, there are two (2) types of SAS 70 audits, a Type I and a Type II. Type I audits are audits performed for a specific date, such as August 12, 2008, while a Type II audit will “test” controls over a specified time period, usually anywhere from six (6) to twelve (12) months. I emphasize the word test because there a great many variations of how auditors undertake testing, which is one of the criticisms of the SAS 70 auditing standard.
What’s important to understand about SAS 70 audits if your organization has to undergo an audit of this nature are issues such as pricing, scope, if you need a Type I or a Type II, and making sure you have adequate knowledge of what the audit really entails.
A SAS 70 download available option is on this website whereby an excellent example of a SAS 70 Type II Service Auditors Report can be obtained. This report, when read in it’s entirety, should shed quite a bit of light on what the audit is and what the end product, the report, will generally look like.
Additional information on Statement on Auditing Standards No. 70 can be found by visiting the “What is SAS 70″ section, white papers section, “Find Your Industry” Section along with the Assurance Services section.
