What is a SAS 70 letter?
SAS 70 is an acronym for the American Institute of Certified Public Accountants (AICPA) Statement on Auditing Standard (SAS) 70, titled “Reports on the Processing of Transactions by Service Organizations”.
Does SAS 70 still exist?
SAS no. 70 has been divided and replaced by two new standards. One is a Statement on Standards for Attestation Engagements (SSAE) also known as an attestation standard; the other is a SAS (an auditing standard).
What is the difference between SAS 70 and SSAE 16?
SAS 70, Cruising with The Auditing Standard What’s the difference between SSAE 16 and SAS 70? One of the key differences between the SAS 70 and the SSAE 16 is that the SAS 70 is an “auditing” standard, whereas the SSAE 16 is an “attestation”.
Do I need SOC 2?
System and Organization Controls for Service Organizations 2 (SOC 2) compliance isn’t mandatory. No industry requires a SOC 2 report. Not only do many companies expect SOC 2 compliance from their service providers, but having a SOC 2 report attesting to compliance confers added benefits, as well.
Is SAS 70 the same as SOC 2?
Under the new AICPA reporting standards, an audit conducted under SSAE 16 will only result in an SOC 1 report. If you need assurance of controls directly related to data centers, including privacy, security and availability, look for a SOC 2 report. SAS 70 was replaced by SSAE 16 in June 2011.
What is soc2 audit?
A SOC 2 audit report provides detailed information and assurance about a service organisation’s security, availability, processing integrity, confidentiality and/or privacy controls, based on their compliance with the AICPA’s (American Institute of Certified Public Accountants) TSC (Trust Services Criteria).
Does SOC 2 expire?
How long is a SOC 2 report valid? The opinion stated in a SOC 2 report is valid for twelve months following the date the SOC 2 report was issued.