{"id":60,"date":"2020-01-17T17:21:07","date_gmt":"2020-01-17T16:21:07","guid":{"rendered":"https:\/\/www.excecert.it\/eng\/?page_id=60"},"modified":"2024-10-07T12:44:33","modified_gmt":"2024-10-07T10:44:33","slug":"isae-3402-and-ssae-16","status":"publish","type":"page","link":"https:\/\/www.excecert.it\/eng\/isae-3402-and-ssae-16\/","title":{"rendered":"ISAE 3402 AND SSAE 16"},"content":{"rendered":"
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WHAT IS IT?<\/p>\n

ISAE 3402<\/em>\u00a0is an international service organization assurance standard, provided by accountants to help customers make better decisions<\/p>\n

ISAE 3402 is an acronym for International Standard for Assurance Engagements<\/p>\n

ISAE stands for \"International Standard for Assurance Engagements\". The official title of ISAE 3402 is \"Assurance Reports on Controls at a Service Organization\" and it is also known as \"Internal Control Framework over Financial Reporting\" (ICFR)<\/p>\n

This document was published in June 2011. Thanks to this document a service organization could prove to have adequate internal controls. The approach is always from a financial reporting perspective<\/p>\n

SSAE 16 requires the service auditor to investigate any noted deviations that could have been caused by an intentional act of service organization personnel. It also requires that the auditor receives written representation from service organization management detailing any actual, suspected or alleged intentional acts that could affect the fair presentation of management\u2019s description of the system. An example of an intentional act could be something such as an employee committing fraud.<\/p>\n

SSAE 16 requires that the service auditor\u2019s report include a statement restricting the use of the report to management of the service organization, user entities, and user auditors.<\/p>\n

ISAE 3402 requires that the service auditor\u2019s report include a statement that indicates that the report is intended for the service organization, user entities, and user auditors, but does not require a statement restricting its use.<\/p>\n

While both SSAE 16 and ISAE 3402 are designed to accomplish the same goal in terms of reporting the establishment of effectively designed controls over financial reporting, some service organizations may need to provide reports to their clients (user entities) under each standard. Often this is driven by the need to perform services within and outside of the United States. For those service organizations, the U.S. based standard allows for SSAE 16 reporting to be performed in accordance with the ISAE 3402 standards, often referred to as a combined report.<\/p>\n

While both standards require the investigation of any deviation\u2019s identified, the ISAE 3402 does not explicitly require auditors to obtain the written representations<\/p>\n

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