Many service organizations having to undergo SAS 70 Type I or SAS 70 Type II compliance would greatly benefit from a SAS 70 Readiness Assessment. So, let’s clear the air as to what this actually is.
A SAS 70 Readiness Assessment should be a proactive exercise which actually benefits the overall SAS 70 audit process. A Readiness Assessment should, thus, include the following:
1. A series of in-depth and comprehensive questionnaires that help examine the control environment of a service organization, while assisting in identifying any weaknesses or deficiencies within the overall control framework.
2. A gap analysis or “findings” of deficiencies and what corrective action is needed to strengthen the control environment of the service organization.
A quality CPA firm should be able to provide you with a series of highly-customized SAS 70 Readiness Assessment Questionnaires along with giving the service organization expert guidance and assistance in answering the questionnaires.
If you want to learn more about what a Readiness Assessment actually entails, then visit the Official SAS 70 Resource Guide.