Benefiting from SAS 70

Sales Pro Source
November 12, 2012 — 929 views  
Become a Bronze Member for monthly eNewsletter, articles, and white papers.

Benefiting from SAS 70

There has been an increase in oversight and demands for industry regulations that will ensure compliance with certain quality standards. Corporate and personal data is the keystone of any organization. These factors face a number of internal and external threats. Getting a SAS 70 audit report can prove beneficial to organizations, which will make them stand out from the rest and provide needed value to current and potential customers.

SAS 70 stands for Statement of Auditing Standards number 70. This has become the generally accepted standard in information security for third parties. The adoption of this standard has been sparked by the passage of laws such as the Sarbanes-Oxley regulations. There are regulations regarding the standards that companies must comply with to be certified. The Public Company Accounting Oversight Board sets these rules. Within the regulations, was a provision that companies can utilize SAS 70 audit to evaluate the control environments of vendors. This fuelled the use of SAS 70 audits in service organizations.

Companies want their clients to access their data and therefore have provided such information on the internet. In addition to that, various technological developments have provided organizations with the comfort of opening up their networks to third party vendors and employees in remote locations. This has led to an increased level of flexibility and information access that has created new risks, which should also be stifled.

The standard procedures for operation are not enough, organizations need to define new regulations and incorporate measures for authorized access to ensure that security levels are at their best. This change in company data information access has fuelled the need for SAS 70 audits.

There are a number of benefits associated with a SAS 70 audits:


• Enhanced credibility with current and potential clients
• It allows safe third party participation
• It provides an independent assessment of organization controls
• It has the potential to grow market share of a company
• It reduces the need for third party self-assessment questionnaires
• Multiple customers can be satisfied with one audit report
• It provides a confirmation that the right procedures, processes and controls are in place as intended by the management.

SAS 70 audit services include the items in the audit report. However, it extends beyond this to provide an in-depth look at the services provided by an organization and how they manage information security. Additional services include an audit of how organizations manage and monitor their information systems, how they handle logical security, management of a change in infrastructure and customer data security in network traffic.

 

Sales Pro Source