If your organization is seeking to become SAS 70 Type I or Type II compliant in the near future, then it is a wise decision to embark on a SAS 70 Readiness Assessment. These assessments essentially help you identify your control environment, the scope of the audit, and what deficiencies or gaps may be present within your overall internal control framework within your organization. It should not be looked upon as an additional cost of a SAS 70 audit, but that of a useful and proactive exercise in preparing your organization for the rigors of going through an actual SAS 70 audit.
Working right towards SAS 70 Type I or Type II compliance without conducting a SAS 70 Readiness Assessment can be a daunting and challenging task. Many problems can arise out of this, such as not properly scoping the audit, not adequately identifying weaknesses within your control structure, along with other critical and material issues. The result can be cost and time overruns to correct these issues that should of been addressed prior to the actual audit.
To learn more about SAS 70, visit the official SAS 70 Resource Guide.