New International Audit Standard for Service Auditors’ Reports forum on ISAE Standard 3402 Replacing SAS 70 - Ernst & Young - China

New International Audit Standard for Service Auditors’ Reports forum on ISAE Standard 3402 Replacing SAS 70

The Statement on Auditing Standards No. 70, Service Organizations (SAS 70) has historically served the needs of service organizations, user entities and user auditors to report on the effectiveness of service organization's internal controls over financial reporting for many years. While the importance of effective controls and reporting processes remain crucial to service organizations, globalization and regulatory changes have prompted a needed evolution to increase the usefulness of these service organization reports on an International basis.
A new International Standard on Assurance Engagements (ISAE) 3402, Assurance Reports on Controls at a Service Organization, was issued by the International Auditing and Assurance Standards Board (IAASB) in December 2009. The American Institute of Certified Public Accountants (AICPA) Auditing Standards Board also issued the Statement on Standards for Attestation Engagements (SSAE) No. 16, Reporting on Controls at a Service Organization, in January 2010 that is substantially similar to the international standard and supersedes the SAS70. These two new standards are effective for reports for periods ending on or after 15 June 2011, with early adoption permitted.

How do the new standards affect service organizations' business? What are the changes to the service organization and service auditor responsibilities under the new standards? What can you do to prepare for the adoption of new standards? This forum provides you with the insights of new service organization reporting standards and suggested actions steps to implement the new standards.

Please join us at the forum and to discuss challenges in front of service organizations and user entities for the adoption of the new standards. Our forum is interactive and designed to encourage your participation. We look forward to your attendance.

Seminar details

Seminar rundown

 Who should attend?

• CFOs, CIOs and senior management of companies
• Senior Account Executives of user entities responsible for outsourced activities planning and monitoring
• Senior Account Executives of service organizations responsible for managing outsourcing services
• Executives of financial institutions that provide outsourcing services for custodial, asset management and pension funds
• IT directors and managers

Registration for this event is closed.