Statement of Auditing Standards for Service Organizations (SAS 70)

SAS 70, the Statement of Auditing Standards for Service Organizations, is used to report on the "processing of transactions by service organizations", which can be done by completing either a Type I or a Type II audit. A SAS 70 Type I is known as "reporting on controls placed in operation", while a SAS 70 Type II is known as "reporting on controls placed in operation" and "tests of operating effectiveness."

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Definition and sample SAS 70 report