SAS 70 review was put into effect the American Institute of Certified Public Accountants in 1992 and is something that has become especially popular in recent years. This has much to do with the remarkable growth legislation accordingly. Example of a piece of regulation that is focused on passing the Sarbanes-Oxley Act of 2002. You will also find that there are other pieces of legislation such as HIPAA that have been put in place to protect individuals from being violated in some way, especially in the area of privacy. SAS 70 does the same. It keeps individuals from being violated in any way. One way in particular is some sort of personal information being released that could be used for other malicious purposes
But what does it all mean and how does SAS 70 audit protect consumers?
What this means is that there is governance of the business, particularly those practices that could lead to the consumer being injured. The review ensures that there are no violations occur, and if there are, those issues can be fixed so that consumers are protected.
Who needs to have a SAS 70 Audit?
If you must have a SAS 70 audit, the work probably in some sort of service. You can provide outsourcing services to individual institutions. You may be a payroll company that deals with the payment information of people. You might even be data service companies. No matter what, you’re working in an industry that handles sensitive information. If the information is out in some way, it can find its way into the wrong hands and be used to hurt businesses or consumers who hide their information to the company.
Where SAS 70 Starting
First of all, if you are an organization that needs to be SAS 70 compliant, you will be asked to do it. You have to ask why it is that you need to be compatible and what the long-term expectations. You need to find out if you are to be checked only once, if you are assessed annually, and if you have type II compliance or brand consistent.
The difference between Type I and Type II according to Type II audit is beyond Type I if you need to have Type II audit depends on what unit need to go tells you. They may find that you need a more extensive audit to check the various parts of the company.
What is reviewed?
Your logical security, network security, physical security, executive tone, human resources, lifetime Systems development, security environment, Incident Management, and so much more are examined followed. These are all factors that contribute to the safety of those who work for the business and those who are customers of the company.
So it’s safe to say that if you work in the service industry, you may be asked to be SAS 70 compliant, especially if you provide consumers with information such as credit card information, social security numbers, and other personal information. If you keep your personal internal information belonging to another company, you will be asked to be SAS 70 compliant. Do not be compatible repeatedly could result in the closure of the operation because it is putting consumer information at risk. So it is better to find out what needs to be done to become compliant from the beginning so there is nothing to worry about if the future review to be carried out.