Question: What are SAS 70 reviews? How do they help banks?
Answer: Banks often rely on service organizations to accomplish various tasks that could have an effect on their financial statements. These services may support a particular function or replace entire business units. Regulations such as GLBA and FACTA require service provider oversight and the best way to attain that is to ask for the provider to furnish a SAS 70 report.
Broadly stating, a SAS 70 is applicable to any service organization whose service is part of the user entity's information system. SAS 70 reviews are often performed in superficial, non-technical ways that can result in questions of credibility. However, when done correctly, these reports are very significant stamps of approval. They can assure an outsourcing organization that the information security controls surrounding the operations of a service provider are adequate.
Enterprise Risk Management BoilerplateEnterprise Risk Management is a leading provider of IT security, Risk Management, Digital Forensics, IT Audit, Regulatory Compliance, and SAS 70 services to global businesses with offices in the United States and India. ERM is a banking industry specialist, having working with several highly reputed banks for over 10 years. ERM professionals come from very esteemed professional and academic backgrounds, including organizations and institutions of the highest acclaim.
To learn more, please contact Ms. Silka Gonzalez, President of Enterprise Risk Management, at 305-447-6750 or info@emrisk.com. Do visit us on the web at www.emrisk.com.
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