Understanding the SSAE 18 Audit: Enhancing Trust and Assurance
As business increasingly moves into an interwoven space, organizations are required to have a level of transparency and accountability to correspond, particularly in relations to financial reporting and data management. The SSAE 18 audit, or Statement on Standards for Attestation Engagements No. 18, is one of the most important ways to achieve this goal. Specifically, this audit standard developed by the American Institute of Certified Public Accountants (AICPA) specifies the elements and types of examination of the controls of service organizations that process sensitive information. What is an SSAE 18 Audit? SSAE 18 audit addresses the controls and processes at service organizations that might affect the financial results of their clients. For companies with outsourced services, such as cloud computing, data processing and IT management, this audit standard is particularly relevant. An SSAE 18 audit allows assessing and reporting on these controls which enables the assurance to c...