SproutLoud Achieves SSAE 16 Auditing Standard
Sunrise, FL – November 15, 2014 – SproutLoud Media Networks, LLC has been proven to be compliant with the Statement on Standards for Attestation Engagements (SSAE) No. 16, the auditing standard that is the “authoritative guidance for reporting on service organizations,” according to the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA).
The SSAE Type I Report is a “report on a description of a service organization’s system and the suitability of the design of controls,” as stated by the SSAE 16 guidance. SproutLoud managers had to walk auditors through control objectives and control activities, which auditors then sampled, tested, and reported on. In layman’s terms, an auditing firm tested how SproutLoud controls and uses the data entrusted to the company by their clients, and how those controls interact into the processes where the data is handled.
The SSAE 16 compliance audit provides independent confirmation that “user organizations” or clients that data controlled by SproutLoud (especially financial statement data of clients) is being processed in a well-designed system of controls and managed properly in an ongoing way.
As a change from the old SAS70 audit, which sought the same verification of controls as the new SSAE 16 established in June of 2011, managers are now required to present a written assertion attesting to validity of the controls in place.