Investment Valuation in India

A SAS 70 report is the service auditor’s report on a service organization’s controls for use by user organizations and their auditors. Statement on Auditing Standards (SAS) No. 70, Service Organizations, is a widely recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA). The requirements of Section 404 of the Sarbanes-Oxley Act of 2002 make SAS 70 audit reports even more important to the process of reporting on the effectiveness of internal control over financial reporting It applies to any service organization that: • Executes transactions and maintains accountability or • Records transactions and processes related data The primary purpose of the SAS 70 report is to provide information about the service organization to auditors who audit the user organization’s financial statements. Benefits of a SAS 70 Report Reduces disruption to service organization operations (single auditor concept) - Otherwise, auditors of all user organizat