SAS 70 audit reports – How to find out more about your service providers

Description

Abstract: The American Institute of Certified Public Accountants’ Statement of Auditing Standards (SAS) No. 70 is an internationally recognized auditing standard for service providers, including employee benefits service providers. It demonstrates that a service provider has been through an audit of its internal control procedures, including controls over information technology and related processes. This article takes a closer look at why employers and plan sponsors should know about these audit reports.