Outsourcing throughout history
Economies of scale
Since the industrial revolution, organizations have pondered on leveraging their competitive advantage to expand markets and increase profits. The predominant model in the 19th and 20th centuries was the large integrated organization. In the 1950s and 1960s, businesses broadened their bases to capitalize on economies of scale.
COSO Enterprise Risk Management
When an organization aims to achieve its objectives, it must address risks that threaten these objectives and manage them. COSO has defined various elements of an internal control system for this purpose. The COSO model depicts the direct relationship between:
Expansion obtains ISAE 3402 Type II statement
Utrecht, April 25, 2019 – DMS provider Expansion obtained the ISAE 3402 Type II statement in January 2019. Assisted by Securance, Expansion’s clients receive an objective confirmation of their service processes’ reliability. Conclude Accountants conducted the audit.
ISO 9001 Quality Check
Like all ISO standards, ISO 9001 undergoes a systematic review every five years to decide whether the standard remains valid or needs updating. This is necessary to ensure that the standard remains globally relevant and meets the needs of its users.
What’s a better fit? An SOC 1 or an SOC 2?
The general term for third-party risk reporting by service organizations to user organizations is Systems and Organization Control Report or SOC report. This term originates from the American Institute of Certified Public Accountants (AICPA) as a replacement for the SAS70 framework.
Enterprise Risk Management
If an organisation wants to achieve its objectives, it must manage and control the risks that threaten those objectives. COSO has defined the various elements of an internal control system for this purpose.
The COSO model illustrates the direct relationship between:
How Does a Service Organisation Prepare for ISAE 3402?
The ISAE 3402 standard requires service organisations to take a proactive approach in meeting the requirements imposed by the service auditors (accountants). Therefore, service organisations can greatly benefit from conducting an ISAE ‘Readiness Assessment,’ which will help in understanding the reporting requirements.
These reporting requirements include:
- Preparing a description of the service organisation’s system.
Preparing a written management statement of assertion, which will be included in the final ISAE 3402 report.
Benefits of ISO 9001
The ISO/IEC 9001 standard is the international standard for quality management. The ISO 9001 standard focuses on two key aspects: meeting customer requirements and enhancing customer satisfaction. To achieve this, the ISO 9001 standard specifies several specific aspects outlined in requirements. When implementing this standard, there are many benefits.
What is ISO 9001
The ISO/IEC 9001 standard is the international standard for quality management. It focuses on two key aspects: meeting customer requirements and enhancing customer satisfaction. The ISO 9001 standard specifies several specific aspects within it.