ROAD TO COMPLIANCE
STEP-BY-STEP ISAE 3402 GUIDE
Download our step-by-step guide to ISAE 3402 compliance! Find out more about the ISAE 3402 standard and learn how to prepare the scope of your ISAE 3402 project, and the project phase of an ISAE 3402 implementation and audit.
ASSURANCE | ISAE 3402
ISAE 3402 COMPLIANCE
Reassure your clients and investors that their data is in safe hands by obtaining an ISAE 3402 assessment report from the European leading issuer.
Leveraging our skilled auditing team and highly efficient compliance management strategy, we ensure a streamlined path toward ISAE 3402 compliance, completing the process in a fraction of the time compared to other auditors.
Initiate your journey toward ISAE 3402 compliance today, gaining a competitive advantage, accelerating deal closures, and securing more business opportunities.
ISAE 3402 REPORTS
Achieving ISAE 3402 compliance is pivotal in establishing trust and assurance for your clients. In the current market environment, clients and partners prioritize service providers who can demonstrate a steadfast commitment to the highest standards of financial reporting and controls.
During an ISAE 3402 audit conducted by Securance, your assurance policies, procedures, and systems will undergo thorough scrutiny, focusing on controls relevant to financial reporting. This examination ensures that your organization effectively manages and safeguards financial information, providing assurance to your clients regarding the accuracy and integrity of your financial processes.
Upon successful completion of the implementation and auditing process with Securance, your organization will be presented with an ISAE 3402 report. This report serves as a testament to your dedication to financial controls and compliance. It includes an executive summary, offering a concise overview of the audit process and its key findings. Furthermore, the report provides a detailed breakdown of the specific controls and procedures implemented, providing both your organization and its clients with a clear understanding of the robust financial controls in place.
An ISAE 3402 Type I report includes an opinion of an external auditor on the controls placed in operation at a specific moment in time. The external auditor examines whether the controls exist and are suitably designed to provide reasonable assurance that the financial statement assertions are accomplished and whether the controls are in place.
In an ISAE 3402 Type II report, the external auditor reports on the existence and suitability of the design and existence of controls and on the operating effectiveness of these controls in a predefined period of six months minimum. This implies that the external auditor performs a detailed examination of the internal control of the service organization and also examines whether all controls are operating effectively in accordance with the predefined processes and controls.
KEY BENEFITS FOR YOUR ORGANIZATION
Why ISAE 3402?
Join the community of ISAE 3402-compliant organizations, demonstrating your dedication to maintaining high standards in your financial reporting. ISAE 3402 reports serve as external validations to ensure trustworthiness.
Many organizations require their suppliers and partners to adhere to certain security and industry standards. Achieving ISAE 3402 compliance gives your company a competitive advantage, making it more appealing to potential clients who prioritize data security and compliance.
The ISAE 3402 implementation process helps identify and mitigate risks associated with cybersecurity. By implementing and following the controls outlined in the ISAE 3402 framework, a company can reduce the likelihood of security incidents and the potential impact on its operations and reputation.
ISAE 3402 compliance underscores a firm’s commitment to robust corporate governance, showcasing a proactive stance on internal controls, risk management, and data integrity. This dedication to transparency and accountability enhances stakeholder confidence, emphasizing the organization’s commitment to upholding the highest standards in financial reporting.
The difference between
ISAE 3000 AND ISAE 3402
ISAE 3000
ISAE 3402
SCOPE
ISAE 3000 always addresses the security and availability criteria within its scope. The criteria of processing integrity, confidentiality, and privacy are optional.
ISAE 3402 focuses on controls relevant to financial reporting. It is designed for service organizations whose activities impact their clients’ financial statements.
APPLICABILITY
Applicable to any organization storing or processing customer data, particularly in the technology and SaaS sectors.
Relevant for service organizations that handle financial transactions or impact the financial reporting of their clients.
CRITERIA
ISAE 3000 partially follows the Trust Service Criteria to ensure a solid foundation. These criteria include security, availability, processing integrity, confidentiality, and privacy. The emphasis is on ensuring the overall security and reliability of systems.
ISAE 3402 follows criteria that focus on controls relevant to financial reporting, such as transaction accuracy and completeness.
CLIENT IMPACT
Clients concerned about the security and privacy of their data, find reassurance in ISAE 3000. This framework assures robust measures to safeguard sensitive information.
For clients seeking assurance about the accuracy of financial data, ISAE 3402 is crucial. It proves that the service organization’s controls adequately protect the integrity of financial information.
Report Types
Also generates Type I and Type II reports, with Type II being more comprehensive as it evaluates the operational effectiveness and existence of controls over time.
Typically results in a Type I or Type II report. Type I evaluates the suitability of design controls at a specific point in time, while Type II assesses the effectiveness and existence of controls over a period.
Audience
Targeted at clients, business partners, and stakeholders interested in the security and privacy practices of the service organization.
The primary audience similarly includes stakeholders concerned with financial reporting, such as external auditors, regulators, and clients relying on the services.
Industry Focus
Prevalent in technology, cloud computing, and SaaS industries, where data security and privacy are critical considerations.
Commonly requested in industries with a focus on financial services and outsourcing.
Trust Service Criteria SOC1
Focuses on controls related to financial statement assertions, including the completeness, accuracy, and timeliness of financial transactions.
Trust Service Criteria SOC2
Concentrates on controls ensuring the security, availability, processing integrity, confidentiality, and privacy of information systems and data.
Report Types SOC1
Typically results in a Type I or Type II report. Type I evaluates the suitability of design controls at a specific point in time, while Type II assesses the effectiveness of controls over a period.
Report Types SOC2
Also generates Type I and Type II reports, with Type II being more comprehensive as it evaluates the operational effectiveness of controls over time.
SCOPE
ISAE 3000 addresses the security and availability criteria within its scope. The criteria of processing integrity, confidentiality, and privacy are optional.
ISAE 3402 focuses on controls relevant to financial reporting. It is designed for service organizations whose activities impact their clients’ financial statements.
APPLICABILITY
Applicable to any organization storing or processing customer data, particularly in the technology and SaaS sectors.
Relevant for service organizations that handle financial transactions or impact the financial reporting of their clients.
CRITERIA
ISAE 3000 follows criteria that include security, availability, processing integrity, confidentiality, and privacy. The emphasis is on ensuring the overall security and reliability of systems, not just financial controls.
ISAE 3402 follows criteria that focus on controls relevant to financial reporting, such as transaction accuracy and completeness.
CLIENT IMPACT
Clients concerned about the security and privacy of their data, find reassurance in ISAE 3000. This framework assures robust measures to safeguard sensitive information.
For clients seeking assurance about the accuracy of financial data, ISAE 3402 is crucial. It proves that the service organization’s controls adequately protect the integrity of financial information.
REPORT TYPES
Also generates Type I and Type II reports, with Type II being more comprehensive as it evaluates the operational effectiveness of controls over time.
Typically results in a Type I or Type II report. Type I evaluates the suitability of design controls at a specific point in time, while Type II assesses the effectiveness of controls over a period.
Industry Focus
Prevalent in technology, cloud computing, and SaaS industries, where data security and privacy are critical considerations.
Commonly requested in industries with a focus on financial services and outsourcing.
TRUST THE EUROPEAN LEADING PROVIDER OF ISAE 3402 REPORTS
Securance, a premier provider in Europe, specializes in SOC and ISAE compliance, placing a strong emphasis on cybersecurity. Renowned for our expertise and efficient methodologies, we guide organizations through the ISAE 3402 compliance journey, showcasing their unwavering commitment to robust financial controls.
As your trusted independent ISAE 3402 auditor, Securance meticulously assesses the evidence you provide for controls relevant to financial reporting. This thorough examination culminates in the issuance of a comprehensive ISAE 3402 report. It's not just a matter of compliance; it's about reinforcing your financial integrity with the assurance that comes from partnering with Securance, a leader in Europe's cybersecurity and compliance landscape.
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