Accounting and Assurance Solutions

SSAE 16 Engagements

What is SSAE 16?

For report periods ending on or after June 15, 2011, SSAE 16 will be the new standard for reporting on controls at service organizations.  This replaces SAS 70.  SSAE 16 is a body of accounting principles which provides more accepted global accounting principles between the AICPA and the international equivalent ISA 3402.  SSAE 16 brings new requirements which organizations must recognize. 

Critical requirements are different from SAS 70 auditing standard as follows:

  • SSAE 16 attest standard now requires a description of its "system", which is more comprehensive than the SAS 70 description
         of "controls.
  • SAE 16 requires a written statement of assertion.  The written statement of assertion must be developed by management and
         contain a specific clause for which management of the service organization will effectively "assert" to.  HKG is experienced and a
         qualified CPA firm to assist your organization.

Due to data security and accounting procedural concerns, credit grantors are increasingly requiring that their current and prospective agencies, such as Collection Agencies and Debt Buyers have an SSAE 16 audit. Unlike other CPA firms specializing in SSAE 16 audits, we work with our strategic partners for consistent and efficient processing. We exclusively service accounts receivables management organizations and a leader in helping them attain and maintain this prestigious and necessary certification. We are also able to perform a readiness assessment, which is a necessary component in preparing for the SSAE 16 audit.

 



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