White Papers provided by the SAS 70 Resource Guide
Pricing and Cost for SAS 70 Type I and Type II Audits
Is your organization looking to earn SAS 70 Type I or Type II compliance? Interested in what the costs should be for these types of audits? Who provides them and are there any hidden fees associated with these audits?
Well, let's take a look at all these points briefly.
First of all, as for SAS 70 pricing, there are vast differences in pricing (and quality of work) from firm to firm. Many firms have "gotten into the game" because SAS 70 audits have witnessed explosive growth in the last five years, primarily due to the growing regulatory compliance laws, such as Sarbanes-Oxley, HIPAA and GLBA.
What's important to note, and I have been advocating this for years, is to choose a CPA firm to do the audit that meets your needs, while also providing excellent service and a quality report that your organization can be proud of. You may not need a Big Four name on your report and the huge price tag that comes with it. At the same time, a small local shop may not provide you the expertise and "street cred" you are looking for.
What's the solution? Try a national, boutique, highly specialized shop like NDB, LLP Accountants and Consultants. Big enough to provide you with a good name, quality work, yet small enough to not give you sticker shock. Okay, so am I trying to sell myself since this is our white paper? Yes, but, we are the "healthy medium" if you will-good name, excellent work, great price. That's all you really need for a successful SAS 70 Type I or Type II audit.
I've seen SAS 70 costs range from the low teens for a Type I all the way up to $75,000 for a Type II. Now, some of these fees are absurd, no question about it.
Furthermore, make sure that the firm you choose gives you a "fixed fee", that is, all out of pocket, travel, and related expenses are part of that fixed fee. If you don't do this, then expect to pay thousands more for auditor expenses. Most firms today, from what I have seen, do provide a "fixed fee" engagement, so you should not have any trouble putting that into the engagement letter.
If you are curious as to what a final SAS 70 report looks and "feels" like, then you can obtain a SAS 70 sample report from our SAS 70 Resource Guide.
Hope this helps!