What is a SSAE 16 Type 2 report?
What is a SSAE 16 Type 2 report?
SSAE-16 SOC 2 Type 2 stands for Standards of Attestations Engagement No. 16, System and Organizations Controls Report 2, Type 2. This AICPA-developed auditing report assesses how well organizations handle data security, system privacy, data confidentiality and data processing processes.
What is a Type 2 audit report?
A Type 2 report has an audit period and provides evidence of how an organization operated its controls over a period of time. During this transition period, the AICPA decided to create a new brand for service organization control reports, and it published the SOC reporting standards with three different SOC reports.
What is a Type 2 SOC report?
Type 2 – report on the fairness of the presentation of management’s description of the service organization’s system and the suitability of the design and operating effectiveness of the controls to achieve the related control objectives included in the description throughout a specified period.
What is in a SSAE 16 report?
16 (SSAE 16) is a set of auditing standards and guidance on using the standards, published by the Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA), for redefining and updating how service companies report on compliance controls.
What is the difference between a Type I and Type II SOC report?
The main difference is that: A SOC 1 Type I report is an attestation of controls at a service organization at a specific point in time… Whereas a SOC 1 Type II report is an attestation of controls at a service organization over a minimum six-month period.
What is the difference between a Type 1 and Type 2 report?
A Type 1 report describes procedures and controls as of a specific point in time, while a Type 2 report covers how the controls have been operating during the audit period.
Who can issue soc2 report?
A SOC 2 audit can only be performed by an auditor at a licensed CPA firm, specifically one that specializes in information security. SOC 2 audits are regulated by the AICPA.
What is Type 1 and Type 2 report?
What does SSAE 16 stand for?
The Statement on Standards for Attestation Engagements No. 16 (SSAE 16) is a set of standards developed specifically for certified public accountants (CPAs) to evaluate an entity’s internal controls and the impact a service organization may have on the entity’s control environment.
