What is a SAS 70 Audit?

SAS 70 Audits, the AICPA’s acronym for Statement on Auditing Standard No. 70, serve as due diligence for a service organization’s processing of transactions on behalf of another entity. At F&D, we perform both Type I (Reports on Controls Placed in Operations) and Type II (Reports on Controls Placed in Operations and Tests of Operating Effectiveness) for client service organizations.

The SAS 70 opinion provides our service clients and the user auditors of their clients with an opinion as to whether the controls in placed at the service center are designed appropriately and operating effectively.

Why Me?

Organizations that provide a service that materially impacts the financials statements of both publicly traded and privately held companies may be required by their clients to undergo a SAS 70 audit of their operations.

Examples of such service organizations include but are not limited to: claims processors, data storage, payroll and billing services, web hosting, investment advisors, or market research firms.

What are the Benefits of a SAS 70 Audit?

With a SAS 70 audit, an organization can distinguish internal processes as a marketing advantage through established competitive best practices. In the case of start-ups, having an unqualified opinion issued by an independent accounting firm can differentiate an organization from its competitors by demonstrating effective design control objectives and activities.

Find out how our expertise with SAS 70 audits can help you and your company. Email or call us at 1 (800) 392-6192.