Overview
ISAE 3402 is the international audit standard for service organisations with control-relevant processes. It is accepted worldwide by clients and auditors.
To whom is the standard relevant?
- Globally active service providers
- Companies with financial reporting-related processes
- Typical examples include:
- Payroll service providers
- Shared service centres
- Financial service providers
- Business process outsourcing
- IT application service providers
- Outsourcing partners with international clients
Scope of services
- Audit of the internal control system (ICS)
- Type 1: design assessment
- Type 2: effectiveness assessment over a period of time
- Readiness assessment
Benefits
- Internationally recognised audit report
- Reduction of financial statement-related requests and customer audits
- Strengthening of the compliance position
- Basis for SOC reports
