SAS No. 70 Auditing Guidance

CPAs are performing more SAS No. 70 audits than ever for two reasons. More entities are outsourcing services that affect their financial statements to service organizations ranging from bank trust departments to application service providers. Also, public companies are having SAS No. 70 audits done to comply with the requirements of Section 404 of the Sarbanes-Oxley Act.

SAS No. 70, Service Organizations, provides guidance on the factors that an auditor should consider when performing an audit of the financial statements of an entity that uses a service organization to process certain transactions. It also provides guidance for auditors who issue reports on the processing of transactions by a service organization for use by other auditors.

This course, based on the AICPA Audit Guide, Service Organizations: Applying SAS No. 70, As Amended, is designed for CPAs who audit entities that outsource financial processing and prepare SAS No. 70 audit reports as well as CPAs working in service organizations.

Objectives: 

• Understand how to perform an SAS No. 70 audit engagement
• Understand the form and content of SAS No. 70 audit reports
• Know when and how to use SAS No. 70 audit reports in integrated (Section 404) or financial statement audits

Value Aid! Service Organizations: Applying SAS No. 70, As Amended, AICPA Audit Guide

Prerequisite:  Experience in auditing

In the video, Video Moderator Susan E. Kenney, CPA, discusses issues with Joseph G. Griffin, CPA, CISA; Andrew E. Nolan, CPA; and Helena Yoon — each of PricewaterhouseCoopers LLP — and James K. O’Neill of IBM Global Services.

*(138-min. video) The DVD disk contains the video presentation and a viewable copy of the Manual.
**The Additional Manual is for group study training only. Unlike other formats, it has no exam answer sheet and cannot be used to earn self-study credit.

View a sample video clip:
Windows Media format: Broadband or 56k (dial-up)
RealOne format: Broadband or 56k (dial-up)

In the video, Video Moderator Susan E. Kenney, CPA discusses issues with Joseph G. Griffin, CPA, CISA; Andrew E. Nolan, CPA; and Helena Yoon — each of PricewaterhouseCoopers LLP — and James K. O'Neill of IBM Global Services.

* The DVD disk contains the video presentation and a viewable copy of the Manual.

** The Additional Manual is for group study training only. Unlike other formats, it has no exam answer sheet and cannot be used to earn self-study credit.