Third Party Assurance
Data security is more important than ever. When this data is secured properly and this security is also guaranteed, you can do business with confidence. After all, clients expect you tot treat their personal and privacy-sensitive data with the utmost care.
Increasing demand ISAE 3402
Although many organizations have been outsourcing core and non-core services to a third party for years now, outsourcing is still becoming more popular by day and is playing a vital role in helping companies increase their efficiency and profitability.
As Outsourced Service Providers (OSPs) are becoming more integrated with your clients’ day-to-day operations, they can have more of an impact on your clients’ internal control framework, including their financial reporting and compliance requirements. Therefore it is critical for an OSP to know what risks may effect your clients. So you can manage those risks and ensure you are meeting your clients’ control needs and requirements.
ISAE 3402 is increasingly in demand by financial institutions, listed organizations and professional companies. ISAE 3402 is the internationally recognised assurance standard for outsourcing. With an ISAE 3402 report, you as a service organization can prove that the processes outsourced to you are performed reliably and that the data is sufficiently secured.
Benefits of ISAE 3402
- You meet international requirements that are recognisable for both national and international clients.
- Many tenders require compliance with the ISAE 3402 standard. For example, by accountants of user organizations. The outsourced processes often have an impact on financial and operational processes that affect the financial statements of the user organization.
- The accountant of an user organization can rely on this report for his financial statement.
- An ISAE 3402 report will satisfy in many cases the user auditor’s requirements.
What can 2-Control do for you?
2-Control has many years of experience in successfully implementing ISAE 3402 in IT service organizations.
Our auditors have knowledge of financial and IT processes and have an accountancy background. This is of great added value since an ISAE 3402 report has a relationship with the processes of the financial statements.