What is ISAE 3402, and How is Compliance Determined?
ISAE 3402 is an international auditing standard published by the International Federation of Accountants. It assesses whether service providers have made reasonable assurances about the systems and controls they use when handling and processing financial reports.
Service provider clients can request either an ISAE 3402 Type I or Type II report. Both reports analyze service provider systems and often assess whether the profiled organization’s system descriptions are accurate, whether they’ve implemented controls, and whether those controls are appropriate for meeting the organization’s objectives for securing financial reporting data. Type II reports will also include auditors’ opinions regarding whether the controls the profiled organizations are using are operating effectively.
ISAE 3402 reports are similar to While U.S. service providers cannot send standalone ISAE 3402 reports to global clients, they can submit
How Does ISAE 3402 Hosting Work?
Clients seeking ISAE 3402 reports want to confirm you’re using sound procedures and controls when processing financial reporting. Moving your data and workflows into a virtual cloud hosting environment can help show this. Abacus Private Cloud can host your financial reporting processes and software on an ePHI and HIPAA-compliant virtual cloud hosting platform protected by three layers of physical, server, and data security. This allows you to securely manage your reporting anywhere from any device.
What Do I Need to Do to Audit and Maintain Compliance with ISAE 3402?
AbacusNext audits our accounts using SSAE-18 standards, and can provide SOC 1 reports that satisfy ISAE 3402 auditing requirements.
Are there AbacusNext Clients Who Use ISAE 3402 Reports?
Yes! Contact us today to see how AbacusNext can help you meet your auditing requirements.