SSAE 16 Professionals issues two new position papers explaining how SSAE 18 will impact your company’s compliance program.
The switch from SSAE 16 to SSAE 18 will have an impact on companies who currently perform the SSAE 16 audit, but will have an even greater impact on those companies who are considered third party vendors to other businesses, and currently do not perform the SSAE 16 audit. Through the development of two new position papers, SSAE 16 Professionals breaks down the changes and provides insight to how it will impact your company’s compliance programs.
In 2016, the Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA) released the results of its clarity project. The results are known as “Concepts Common to all Attestation Engagements”. SSAE 18 encompasses all attestation engagements and focuses on 3 primary changes: third party vendor management, data validation, and risk assessment. Jim Jimenez, Managing Partner of SSAE 16 Professionals, states “Although most reputable CPA firms have already taken into account these changes as part of normal audit procedures, some low-cost CPA firms have been cutting corners for too long, and placing their clients at risk.”
SSAE 16 Professionals has developed two whitepapers developed to clarify the changes and provide guidance on how best to adapt to the changes from SSAE 18. These two position papers can be downloaded at https://www.ssae16professionals.com/services/ssae-18/.
Increasingly, compliance is taking on an even more important role in the operations of your business. Is your company ready to tackle these changes?
About SSAE 16 Professionals
SSAE 16 Professionals is based in the United States, but serves clients around the globe. The firm’s leadership team has over 150 years of combined business management, operations and related information technology (IT) experience. SSAE 16 Professionals has performed over 1,000 SOC audits, and unlike most traditional CPA firms which focus on financial statement auditing and tax compliance, SSAE 16 Professionals focuses on information security (InfoSEC) and compliance related engagement programs. These engagements include, but are not limited to, SSAE 16 Audits, SOC 2 Audits, SOC 3 Audits, SOC Readiness Assessments, ISO 27001 Assessments, PCI Compliance, HIPAA Compliance, HITRUST Compliance, Vulnerability Assessments, and Penetration Testing.
SSAE 16 Professionals was founded with the goal of providing clients with top professional talent from a boutique-style professional services firm. Each of their professionals has over 10 years of relevant experience at “Big 4” and other large international or regional accounting firms, and most carry the designation of Certified Public Accountant (“CPA”), Certified Information Systems Auditor (“CISA”), Certified Information Systems Manager (“CISM”), or Certified Internal Auditor (“CIA”). SSAE 16 Professionals treats its staff as valued and highly talented peers, while omitting avoidable layers of management and associated costs.
For more information, please visit https://www.SSAE16Professionals.com