ISAE 3402 is an international standard developed by the International Auditing and Assurance Standards Board (IAASB) that provides a framework for auditing the effectiveness of controls at service organisations.
This standard is primarily used to assess and report on the controls related to financial reporting and operational processes of service providers, ensuring they are suitably designed and operating effectively.
Key Components of ISAE 3402
- sssTypes of Reports: ISAE 3402 reports can be classified into two types:
- Type I Report: Provides an assessment of the design and implementation of controls as of a specific date. It focuses on whether the controls are suitably designed but does not assess their operational effectiveness over time.
- Type II Report: Includes the evaluation of the operating effectiveness of the controls over a specified period (usually a minimum of six months). It provides a more comprehensive assessment of how well the controls functioned over time.
- Control Objectives: The report focuses on specific control objectives that are relevant to user organisations, addressing areas such as:
- Security: Measures taken to protect data from unauthorised access and breaches.
- Availability: Ensuring services are accessible and operational when needed.
- Processing Integrity: Validating that data is processed accurately and consistently.
- Confidentiality: Safeguarding sensitive information from unauthorised disclosure.
- Privacy: Ensuring compliance with applicable data protection regulations.
- Management Assertions: The management of the service organisation provides assertions about the effectiveness of the controls and the suitability of the design, which is evaluated by an independent auditor.
- Independent Auditor Opinion: An independent CPA firm conducts the audit and provides an opinion on the effectiveness of the controls, which is included in the report.
Project Timeline
The timeline for obtaining an ISAE 3402 report typically varies based on the organisation’s readiness and complexity. Organisations can expect the process to take approximately three to six months, depending on the type of report being conducted and the existing control environment.
Why Choose TotalCert Consulting?
Expertise in Assurance Standards
Our team has extensive experience in ISAE 3402 compliance, ensuring effective reporting on internal controls.
Tailored Solutions
We provide customised services to meet your organisation’s specific ISAE 3402 compliance needs.
Qualified Partnerships
We collaborate with experienced auditors to deliver thorough ISAE 3402 assessments.
Comprehensive Support
From pre-assessment to post-audit follow-up, we provide end-to-end assistance throughout the ISAE 3402 process.