SAS 70 Audit Tutorial | Audit Benefits - Section 2.0
| posted by charles denyerSAS 70 audits are looked upon as an expensive and time consuming activity that many organizations unfortunately have to go through. Let's look at the glass half full approach and talk about the many benefits of SAS 70 Type I & Type II audits.
First and foremost, SAS 70 audits examine your control environment for ensuring an adequate system of checks, balances and internal controls are in place. What's important to note about this is that the audit is an excellent self-assessment of your organization's control environment. Moreover, any shortcomings or deficiencies in your system of internal controls are generally identified before the audit with a SAS 70 readiness questionnaire assessment. This helps identify gaps and gives you recommendations for strengthening your control environment before the audit commences. It’s a win win approach in that you identify weaknesses before the audit and you hopefully get a clean audit opinion that you can use to help market your organization and to show your customers of your commitment to your internal control environment.
Yes, SAS 70 audits can be expensive and time consuming, but take time to learn and study about the upside of these audits at the SAS 70 resource guide, where you can obtain SAS 70 sample reports along with downloading a host of current white papers on SAS 70 audits.
