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ARTICLE · 18 JUNE 2013

Controls Assurance Reports In Outsourcing Transactions: Knowing What To Ask For

McCarthy Tétrault
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Outsourcing and cloud computing service engagements are fraught with financial, security and other risks, especially if dealing with an unproven service provider.

CanadaEmployment and HR
David Crane
David Crane
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Outsourcing and cloud computing service engagements are fraught with financial, security and other risks, especially if dealing with an unproven service provider. Obtaining a third party assurance report with respect to a service provider's internal controls can provide some comfort. However, customers are often confused about what kind of assurance report they should obtain.

CSAE 3416

Canadian Standard on Assurance Engagements 3416 (CSAE 3416), Reporting on Controls at a Service Organization, is the Canadian accounting standard for reviewing and reporting on controls at a service organization. It is issued by the Auditing and Assurance Standards Board (AASB) and is equivalent to the Statement on Standards for Attestation Engagements (SSAE) No. 16, which is the standard in the United States, and is substantially similar to the International Standard on Assurance Engagements (ISAE) No. 3402.

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