-
SSAE 16 replaces SAS 70 (…sort of) – UPDATE 2
In my last post I indicated that the AICPA would have additional guidance on this topic this fall. It appears that we may now have to wait until early 2011. According to this document from the AICPA, “The existing (AICPA Audit) guide is being overhauled and rewritten to reflect the requirements and guidance in SSAE…
-
CUNA adds examiner feedback section to member website
The Credit Union National Association (CUNA) is soliciting comments from it’s members regarding their recent NCUA examination experiences. “We have heard from credit unions a lot over the last few months that many are finding their examiners and exams to have been a lot more difficult…
-
SSAE 16 replaces SAS 70 – UPDATE
Starting next year (or this year for Type II engagements that extend beyond 6/11), the traditional SAS 70 is being phased out in favor of the SSAE 16. The biggest difference is that the “A” no longer stand for “Audit”, but “Attestation”: Management of the service provider asserts that controls relative to security, availability, integrity,…
-
About the FFIEC
The Council is a formal inter-agency body empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions by the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC),…