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Understanding SSA 16 & SOC Reports When Using a Service Provider Webinar March 6, 2014, 1:30 3:30 p.m. CT It is important to assess and address the risks associated with outsourced services. SOC Reports
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Understand SSAE 16 (Statements on Standards for Attestation Engagements No. 16) is a set of auditing standards that govern the way service organizations assess, report, and communicate their internal controls and security measures.
Service organizations that provide outsourced services and want to assure their customers of the effectiveness of their internal controls are required to file understanding SSAE 16 reports.
To fill out understanding SSAE 16 reports, service organizations need to engage a qualified CPA firm to perform an audit, assess their internal controls, and evaluate their compliance with the relevant standards. The CPA firm will then issue a report detailing their findings and opinions.
The purpose of understanding SSAE 16 is to provide assurance to service organization customers and their auditors that the organization has implemented effective internal controls to mitigate risks related to services provided.
Understanding SSAE 16 reports typically include a description of the service organization's controls, the auditor's opinion on the effectiveness of those controls, potential risks identified, and any recommendations for improvement.
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