ISAE 3402
The International Standard on Assurance Engagements 3402 , usually abbreviated as ISAE 3402 , is an international auditing standard published by the International Federation of Accountants (IFAC), which regulates the auditing of an internal control system at a service company, including reporting by an auditor . It is particularly relevant for auditing service companies that take on tasks for other companies in the course of outsourcing and the corresponding commissioning companies.
background
The regulations of ISAE 3402 are aimed at checking the internal control system of a service organization and making the results available to auditors of companies that have commissioned the service company with the corresponding service. Either only an examination of the control design and the implementation of the controls can be carried out or, in addition, the actual implementation of the control actions over a defined period of time can also be checked. Finally, the standard requires that the reports derived from this deal in detail with the individual control objectives, the controls and the findings revealed by the auditing activities. In this way, the customers of the service organization and their auditors should have access to a summary of the auditor's assessment as well as an individual presentation of the defects identified.
A corresponding attestation including a test report is a quality criterion for service providers with which they can stand out from their competitors.
The standard was drawn up by the International Auditing and Assurance Standards Board within IFAC and published as the final standard in September 2009 after its adoption. The first application was for all financial statements with a deadline after June 15, 2011. The IDW PS to be applied by German auditors as a professional regulation 951 of the Institut der Wirtschaftsprüfer is based on the regulations of ISAE 3402 and was revised accordingly in 2012 to comply with the regulations of the international standard.
Individual evidence
- ↑ a b roedl.de: "IDW PS 951: Examination of service providers in outsourcing and cloud computing"
- ↑ iaasb.org: "Assurance Reports on a Service Organization's Controls"
- ↑ ebnerstolz.de: "IDW EPS 951 new version: Implementation of the requirements of ISAE 3402 approved"