What to expect from new outsourcing audit standards

Description

Abstract: Statement on Auditing Standards (SAS) No. 70 has long provided guidance for CPAs who audit companies that outsource services such as payroll and benefit administration and those who report on service organizations’ internal controls. However, new standards more in line with international standards are on the way. This article describes how Statement on Standards for Attestation Engagements (SSAE) No. 16 proposes to change outsourcing audits.