Why have an SSAE 16 Review Performed?
Some organizations have heard of SAS 70, SSAE 16, and soon to be SSAE 18, but, don’t really know WHY they need to pay to have a bunch of auditors trounce through their company for a month or two during the year, especially right after their financial audit just finished. The answer is simple: Many companies will not even think about using your company to perform services for them without a clean Type II Report in place. Some benefits of having an SSAE 16 performed: Ability to perform outsourcing services for Public Companies. If performing financially significant duties for a Public Company, they are required to use a SSAE 16 qualified provider as it is the only way to give investors assurance over controls that are not performed by the Company in question. Public and Private companies are more likely to trust your organization with their data. If you were to trust a company with your data, you would want complete assurance it will be handled with the utmost care A year round accessible knowledge source (your auditors). As a service organization, large or small, you will always have questions regarding your business and having a set of auditors in place with access to a wide array of business knowledge, it will allow you to bounce your questions and concerns off of a group of trusted individuals. A third party to review your controls and activities to ensure they are functioning appropriately, and give advice on how to improve upon