SAS 70 Review and your Banks 1350
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Hi - I seem to recall getting out of the requirement to do a general SOX SAS 70 review for the finanical insititutions that process your banking and investment transations, for some reason (these are heavily regulated entities?)
I can’t find the rationale and a source of it, and our wonderful auditors, who had no issue with it last year, are now requiring obtaining and reviewing these SAS 70 reports, at the very last minute.
Can anyone point me in the right direction, or are we dreaming?
Many thanks
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The PCAOB guidance over obtaining a SAS 70 can be found at:
pcaobus.org/Standards/Staff_Questions-and-Answers/2004/10-06.pdf
Question #28 addresses the topic and provides an example.
Hope this helps,
Milan
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Yes it does, thanks very much.