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BrookWeiner SSAE 16 (SOC 1) Services

In today's global economy, service organizations or service providers must demonstrate that they have adequate controls and safeguards when hosting or processing customer data. In addition, requirements of Section 404 of the Sarbanes-Oxley Act of 2002 make SAS 70 audit reports even more important to the process of reporting on the effectiveness of internal control over financial reporting.

The service organization reporting standard, Statement on Standards for Attestation Engagements (SSAE) No. 16, has been in effect since June 2011. SSAE 16 supersedes Statement on Auditing Standards (SAS) No. 70 with the professional guidance for performing a service auditor's examination.

These reports, prepared in accordance with Statement on Standards for Attestation Engagements (SSAE) No. 16, Reporting on Controls at a Service Organization, are specifically intended to meet the needs of user entity managements and user entities' auditors, as they evaluate the effect of the controls at the service organization on the user entities' financial statement assertions. These reports are important components of user entities' evaluation of their internal controls over financial reporting for purposes of comply with laws and regulations such as the Sarbanes-Oxley Act and the user entities' auditors as they plan and perform audits of the user entities' financial statements. There are two types of reports for these engagements:

  • Type 2 reports on the fairness of the presentation of management's description of the service organization's system and the suitability of design and operating effectiveness of the controls to achieve the related control objectives included in the description throughout a specified period.
  • Type 1 reports on the fairness of the presentation of management's description of the service organization's system and the suitability of design of the controls to achieve the related control objectives included in the description as of a specified date.

Historically, the large national firms have dominated this sector of the assessment industry. With the ever-increasing cost of these services, non-public service providers have been looking for cost-effective alternatives to the fee structure of national accounting firms. BrookWeiner's specialists can offer to perform the SSAE testing following AICPA's attestation standards for fieldwork, quality control, and reporting in a highly professional and cost-effective manor.

Our clients benefit from our identifying operational control objectives, and provided assistance in making sure controls are working. If we find weaknesses, we recommend cost-effective ways to remedy and mitigate your risk.

Meet the Specialist
Sherwin A. Brook
Sheldon Weiner