Posted by: Charles Denyer
glossary of auditing terms sas 70, SAS 70, SAS 70 Type I, sas 70 type ii, sas70
Want to think and talk like a SAS70 auditor? Well, if you are a service organization that will soon be undergoing a SAS70 audit, then it’s a good idea to gain an understanding of some of the most commonly used term for Statement on Auditing Standards No. 70. Do you know the difference between the term “service organization” and “user organization”? How about Statement on Auditing Standards No. 55 and it’s importance on SAS70 Type I and SAS 70 Type II audits. The more of these key phrases and terms you know, the better prepared you will be in assisting your company in going through a SAS70 audit.
What’s more, if you are currently in the proposal phase and looking to find a qualified SAS70 CPA firm to conduct the audit, then your understanding of these key terms and phrases will ultimately help you better scope the audit, giving way to a fair and equitable fee for your company.
Learn about key SAS70 phrases and become a knowledge base for you and your organization regarding SAS70 audits.