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Are You Ready for the New SAS 70 Standards?
Webinar
11 AM CT
Presenter(s): Deanna M. Wachsmuth, CISA & Daniel V. McOsker, CPA, CBA
Duration: 1 hour
Pricing:
$299 - Live, Download or CD
$249 - (for Affiliation Members)
$349 - Live + Download or Live + CD
The SAS 70 is being replaced by new standards for service provider audits and for those who use these audits in assessing the controls of a service provider (vendor). How will the change affect your vendor management program? How will it affect you as a user of the report? Do you have to change contract terms? These are some of the questions that will be answered in this webinar.
We will give you a complete overview of the SAS 70 report – as it exists today and what it will be after the changes. Join us for answers to these questions:
- What do these changes mean for the servicer's auditor and what do they mean for you as the user of the final report? Which of your vendors should provide you with a SAS 70 report?
- What do you do if a vendor doesn't provide a SAS 70? What are the alternatives?
- How often should you expect to receive an updated SAS 70 and how much does it cost?
- Do you need to include this requirement in your vendor contract terms and conditions?
- What does it mean if your provider says they are PCI compliant and therefore don't plan to become "SAS 70 compliant"?
- Do you know how to document your review of the current SAS 70 report? How will that review change with the new standards?
- Can you distinguish between a Type I and Type II report and understand the impact on your vendor due diligence review process?
- Does a SAS 70 tell the whole story? How do you know if these reports satisfy the requirement to monitor your vendors for information security and disaster recovery purposes?
- How is a SAS 70 used to support a financial statement audit? How can a SAS 70 be used to support GLBA and SOX compliance for your institution?
BIO: Dan McOsker
Mr. McOsker is currently an Engagement Manager for Sheshunoff’s Risk Management Services’ New England Division. He is responsible for managing fully outsourced internal audit engagements for community bank clients ranging from $75MM in assets to over $2.5 Billion.
Prior to joining Sheshunoff, Dan had over 25 years experience in Public Accounting and Bank Internal Audit. As an Audit Manager with an international accounting firm, he specialized in providing audit and management advisory services to state government, financial institutions, and health care industry clients. As Director of Internal Audit for a $2.5 billion financial services company, he directed all aspects of the audit program for the company’s four banks, a full service Trust Department, a full service mortgage department and a consumer indirect lending department. In addition to accounting and audit experiences, he has led various projects such as, strategic planning and execution, process improvement systems, and revenue enhancement and expense containment.
Mr. McOsker holds a B.S. Degree in Accounting. He is a Certified Public Accountant, a Certified Bank Auditor, a Member of The American Institute of Certified Public Accountants and the Institute of Internal Auditors.
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