What does SSAE 16 stand for?
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What does SSAE 16 stand for?
Statements on Standards for Attestation Engagements
SSAE stands for Statements on Standards for Attestation Engagements, and SSAE 16 is an attestation standard established by the American Institute of Certified Public Accountants (AICPA) to report on the controls and services provided to customers by service organizations.
What does SSAE 16 provide?
SSAE 16 provides guidance on an auditing method, rather than mandating a specific control set. In this respect, it is similar to ISO 27001:2013.
What is a SSAE 16 SOC 2 report?
SSAE-16 SOC 2 Type 2 stands for Standards of Attestations Engagement No. 16, System and Organizations Controls Report 2, Type 2. This AICPA-developed auditing report assesses how well organizations handle data security, system privacy, data confidentiality and data processing processes.
What is SOC compliance?
SOC 2 is a voluntary compliance standard for service organizations, developed by the American Institute of CPAs (AICPA), which specifies how organizations should manage customer data. The standard is based on the following Trust Services Criteria: security, availability, processing integrity, confidentiality, privacy.
What is the difference between SSAE 16 and SOC 2?
And what’s even better, you get to compare the processes directly related to the services they will be providing you. While SAS 70 and SSAE 16/SOC 1 are designed to measure financial controls, the SOC 2 audit is designed to measure Service Organization Controls related to: Security. Availability.
Who needs SOC compliance?
Organizations that need a SOC 2 report include cloud service providers, SaaS providers, and organizations that store client information in the cloud. A SOC 2 report proves a client’s data is protected and kept private from unauthorized users.
Who needs soc1 compliance?
SOC 1 certification is required when an entity’s services impact a user entity’s financial reporting. For example, if a manufacturer uses a component that Company ABC has in its product, Company ABC’s business impacts financial reporting.
Who needs SOX compliant?
All publicly-traded companies
All publicly-traded companies, wholly-owned subsidiaries, and foreign companies that are publicly traded and do business in the United States must comply with SOX. SOX also applies to accounting firms that audit public companies. SOX places a barrier between the auditing function and accounting firms.
What is SOCS compliance?
Is SSAE 16 required by law?
The need for SSAE 16 certification differs from enterprise to enterprise and depends on the goal of the company. For example, if a company runs a data center that provides internal resources for employees on product development, then SSAE 16 certification might not be needed.
What is the difference between SOC and SSAE?
In short, SSAE refers to the standards, and SOC refers to the report. In 2016, the AICPA updated the Statement on Standards for Attestation Engagements No.
