The International Auditing and Assurance Standards Board (IAASB) of the worldwide organisation for the accounting profession (IFAC) is working on the introduction of a new standard for third party reporting, the ISAE3402. The IFAC/IAASB did not yet dispose of a standard for statements of the accountant on the AO/IC of an organisation. Unlinke AICPA which has intoduced the well known SAS70 standard.

The ISAE3402 standard is based on the SAS70 standard with a specific focus on management responsibility for implementing an and maintaining an appriopriate control environment. Although we expect that the naming of the new standard will not win any popularity contest, we do expect that this provides organisations with a broader means in combination with the ISAE to demonstrate the quality of control over outsourced operations.

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