Benefits of SSAE 16 Compliance

  • The SSAE 16 audit report allows the service organization to provide its customers with independent third-party verification about the state of the internal controls governing the integrity, reliability, effectiveness, and security of the processing services provided to user organizations.
  • The SSAE 16 Attestation Report can be used by user organization’s financial statement auditors as a substitute for those parties performing their own first-hand audit procedures.
  • Undergoing the SSAE 16 Attestation distinguishes the service organization from its competitors.
  • The SSAE 16 Attestation can provide more benefits in comparison to an internal audit function.
  • A SSAE 16 audit can improve or sustain business relations between service providers and user organizations. It may be also viable to pass the costs of fees paid for the SSAE 16 Attestation to the user organization.
  • Upgradation from old standard to new SSAE 16 Standard. Use of SSAE 16 Audit Reports.
  • More confidence in the Services by the customers.
  • Allows the service organization to meet contractual obligations.
  • Provide additional comfort on risk, systems and controls to clients and business partners.
  • Provide assurance on the Internal Controls and meeting objectives in case of adverse situations.

What is the significance of SSAE 16 compliance?

  1. Provide assurance to your clients about the safeguard of their funds and information.
  2. Ensure that client transactions are complete, accurate, and are completed in a timely manner.
  3. It reduces risks by Risk Management by the Service Organization.
  4. It reduces Service Organization’s audit and compliance costs. It literally pushes the cost down their supply chain.