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Amortisation, acquisition, restructure charges, in-process R&D, pension curtailment

4 Implementation of key provisions 4.1 ar!anes"#$ley ection %&'( Disclosure controls 4.' ar!anes"#$ley ection %&%( Improper Influence on )on*uct of Au*its 4.% ar!anes"#$ley ection 4&1( Disclosures in perio*ic reports +#ff-!alance sheet items, 4.4 ar!anes"#$ley ection 4&4( Assessment of internal control 4.- ar!anes"#$ley 4&4 an* smaller pu!lic companies 4.. ar!anes"#$ley ection /&'( )riminal penalties for influencing 0 Agency investigation1proper a*ministration

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4.2 ar!anes"#$ley ection 3&.( )riminal 4enalties for )5#1)6# financial statement certification 4./ ar!anes"#$ley ection 11&2( )riminal penalties for retaliation against 7histle!lo7ers

8his section is of course liste* un*er 8itle III of the act, an* pertains to 9)orporate Responsi!ility for 6inancial Reports9. Summary of Section 302 4erio*ic statutory financial reports are to inclu*e certifications that( : 8he signing officers have revie7e* the report : 8he report does not contain any material untrue statements or material omission or be considered misleading : 8he financial statements an* relate* information fairly present the financial condition and the results in all material respects : 8he signing officers are responsi!le for internal controls an* have evaluated these internal controls within the previous ninety days an* have reporte* on their fin*ings : A list of all deficiencies in the internal controls and information on any fraud that involves employees 7ho are involve* 7ith internal activities

: Any significant changes in internal controls or related factors that could have a negative impact on the internal controls #rgani;ations may not attempt to avoi* these requirements !y reincorporating their activities or transferring their activities outsi*e of the 0nite* tates Sarbanes-Oxley Act Section 40 8his section is of course liste* un*er 8itle I< of the act +5nhance* 6inancial Disclosures,, an* pertains to 9Disclosures in 4erio*ic Reports9. Summary of Section 40 6inancial statements are pu!lishe* !y issuers are require* to !e accurate an* presente* in a manner that *oes not contain incorrect statements or a*mit to state material information. 8hese financial statements shall also inclu*e all material off-!alance sheet lia!ilities, o!ligations or transactions. 8he )ommission 7as require* to stu*y an* report on the e$tent of off-!alance transactions resulting transparent reporting. 8he )ommission is also require* to *etermine 7hether generally accepte* accounting principals or other regulations result in open an* meaningful reporting !y issuers. Sarbanes-Oxley Act Section 404 8his section is liste* un*er 8itle I< of the act +5nhance* 6inancial Disclosures,, an* pertains to 9=anagement Assessment of Internal )ontrols9. Summary of Section 404 Issuers are require* to pu!lish information in their annual reports concerning the scope an* a*equacy of the internal control structure an* proce*ures for financial reporting. 8his statement shall also assess the effectiveness of such internal controls an* proce*ures. 8he registere* accounting firm shall, in the same report, attest to an* report on the assessment on the effectiveness of the internal control structure an* proce*ures for financial reporting.

!he Sarbanes-Oxley Act Section 40" 8his section is liste* 7ithin 8itle I< of the act +5nhance* 6inancial Disclosures,, an* pertains to 9Real 8ime Issuer Disclosures9. Summary of Section 40"

Issuers are require* to *isclose to the pu!lic, on an urgent !asis, information on material changes in their financial con*ition or operations. 8hese *isclosures are to !e presente* in terms that are easy to un*erstan* supporte* !y tren* an* qualitative information of graphic presentations as appropriate. Sarbanes-Oxley Act Section #02 8his section is liste* 7ithin 8itle <III of the act +)orporate an* )riminal 6rau* Accounta!ility,, an* pertains to 9)riminal 4enalties for Altering Documents9. Summary of Section #02 8his section imposes penalties of fines an*1or up to '& years imprisonment for altering, *estroying, mutilating, concealing, falsifying recor*s, *ocuments or tangi!le o!>ects 7ith the intent to o!struct, impe*e or influence a legal investigation. 8his section also imposes penalties of fines an*1or imprisonment up to 1& years on any accountant 7ho kno7ingly an* 7ilfully violates the requirements of maintenance of all au*it or revie7 papers for a perio* of - years

SAS 70 AUDITING STANDARD


SAS 70 FAQs

Please visit the frequently asked questi ns !FAQ" se#ti n f this site f r further inf r$ati n n SAS 70 and related t %i#s& ' ur feed(a#k n the FAQs are al)ays )el# $e&

SSA* +,

Inf r$ati n n the ne) State$ent n Standards f r Attestati n *n-a-e$ents !SSA*" N & +,. Re% rtin- n / ntr ls at a Servi#e 0r-ani1ati n. that )ill take effe#t in 2une 30++&

ISA* 4503

Inf r$ati n n the ne) Internati nal Standard n Assuran#e *n-a-e$ents !ISA*" 4503. Assuran#e Re% rts n / ntr ls at a Servi#e 0r-ani1ati n. due t take effe#t in 2une 30++&

servi#e r-ani1ati ns r servi#e %r viders $ust de$ nstrate that they have adequate # ntr ls and safe-uards )hen they h st r %r #ess data (el n-in- t their #ust $ers& In additi n. the require$ents f Se#ti n 505 f the Sar(anes607ley A#t f 3003 $ake SAS 70 audit re% rts even $ re i$% rtant t the %r #ess f re% rtin- n the effe#tiveness f internal # ntr l ver finan#ial re% rtin-& The issuan#e f a servi#e audit r8s re% rt %re%ared in a## rdan#e )ith SAS N & 70 si-nifies that a servi#e r-ani1ati n has had its # ntr l (9e#tives and # ntr l a#tivities e7a$ined (y an inde%endent a## untin- and auditin- fir$&

SAS 70 re% rts !Servi#e Audit r8s Re% rts" are -enerally divided int three r f ur se#ti ns de%endinn the ty%e f en-a-e$ent %erf r$ed& There are t) ty%es f Servi#e Audit r8s Re% rts: Ty%e I and Ty%e II& A Ty%e I re% rt des#ri(es the servi#e r-ani1ati n8s des#ri%ti n f # ntr ls at a s%e#ifi# % int in ti$e !e&-& 2une 40. 3000"& A Ty%e II re% rt n t nly in#ludes the servi#e r-ani1ati n8s des#ri%ti n f # ntr ls. (ut als in#ludes detailed testin- f the servi#e r-ani1ati n8s # ntr ls ver a $ini$u$ si7 $ nth %eri d !e&-& 2anuary +. 3000 t 2une 40. 3000"& The # ntents f ea#h ty%e f re% rt is des#ri(ed in the f ll )in- ta(le:

S*R;I/* 0RGANI<ATI0N /0NTR0= !S0/" R*P0RTS


0ne f the $ st effe#tive )ays a servi#e r-ani1ati n #an # $$uni#ate inf r$ati n a( ut its # ntr ls is thr u-h a Servi#e Audit r8s Re% rt& There are t) ty%es f Servi#e Audit r8s Re% rts: Ty%e I and Ty%e II& A Ty%e I re% rt des#ri(es the servi#e r-ani1ati n8s des#ri%ti n f # ntr ls at a s%e#ifi# % int in ti$e !e&-& 2une 40. 30+3"& A Ty%e II re% rt n t nly in#ludes the servi#e r-ani1ati n8s des#ri%ti n f # ntr ls. (ut als in#ludes detailed testin- f the servi#e r-ani1ati n8s # ntr ls ver a $ini$u$ si7 $ nth %eri d !e&-& 2anuary +. 30+3 t 2une 40. 30+3"& The # ntents f ea#h ty%e f re% rt is des#ri(ed in the f ll )in- ta(le:

In a Ty%e I re% rt. the servi#e audit r )ill e7%ress an %ini n and re% rt n the su(9e#t $atter %r vided (y the $ana-e$ent f the servi#e r-ani1ati n as t !+" )hether the servi#e r-ani1ati n8s des#ri%ti n f its syste$ fairly %resents the servi#e r-ani1ati n8s syste$ that )as desi-ned and i$%le$ented as f a s%e#ifi# date> and !3" )hether the # ntr ls related t the # ntr l (9e#tives stated in $ana-e$ent8s des#ri%ti n f the servi#e r-ani1ati n8s syste$ )ere suita(ly desi-ned t a#hieve th se # ntr l (9e#tives 6 als as f a s%e#ified date&

In a Ty%e II re% rt. the servi#e audit r )ill e7%ress an %ini n and re% rt n the su(9e#t $atter %r vided (y the $ana-e$ent f the servi#e r-ani1ati n as t !+" )hether the servi#e r-ani1ati n8s des#ri%ti n f its syste$ fairly %resents the servi#e r-ani1ati n8s syste$ that )as desi-ned and i$%le$ented thr u-h ut the s%e#ified %eri d> !3" )hether the # ntr ls related t the # ntr l (9e#tives stated in $ana-e$ent8s des#ri%ti n f the servi#e r-ani1ati n8s syste$ )ere suita(ly desi-ned thr u-h ut the s%e#ified %eri d t a#hieve th se # ntr l (9e#tives> and !4" )hether the # ntr ls related t the # ntr l (9e#tives stated in $ana-e$ent8s des#ri%ti n f the servi#e r-ani1ati n8s syste$ %erated effe#tively thr u-h ut the s%e#ified %eri d t a#hieve th se # ntr l (9e#tives&

ISAE 3402 SERVICE ORGANISATIONS CONTROL REPORT


0ne f the $ st effe#tive )ays a servi#e r-ani1ati n #an # $$uni#ate inf r$ati n a( ut its # ntr ls is thr u-h a Servi#e Audit r8s Re% rt& There are t) ty%es f Servi#e Audit r8s Re% rts: Ty%e I and Ty%e II& A Ty%e I re% rt des#ri(es the servi#e r-ani1ati n8s des#ri%ti n f # ntr ls at a s%e#ifi# % int in ti$e !e&-& 2une 40. 30+3"& A Ty%e II re% rt n t nly in#ludes the servi#e r-ani1ati n8s des#ri%ti n f # ntr ls. (ut als in#ludes detailed testin- f the servi#e r-ani1ati n8s # ntr ls ver a $ini$u$ si7 $ nth %eri d !e&-& 2anuary +. 30+3 t 2une 40. 30+3"& The # ntents f ea#h ty%e f re% rt is des#ri(ed in the f ll )in- ta(le:

In a Ty%e I re% rt. the servi#e audit r )ill e7%ress an %ini n n !+" )hether the servi#e r-ani1ati n8s des#ri%ti n f its # ntr ls %resents fairly. in all $aterial res%e#ts. the relevant as%e#ts f the servi#e r-ani1ati n8s # ntr ls that had (een %la#ed in %erati n as f a s%e#ifi# date. and !3" )hether the # ntr ls )ere suita(ly desi-ned t a#hieve s%e#ified # ntr l (9e#tives& In a Ty%e II re% rt. the servi#e audit r )ill e7%ress an %ini n n the sa$e ite$s n ted a( ve in a Ty%e I re% rt. and !4" )hether the # ntr ls that )ere tested )ere %eratin- )ith suffi#ient effe#tiveness t %r vide reas na(le. (ut n t a(s lute. assuran#e that the # ntr l (9e#tives )ere a#hieved durin- the %eri d s%e#ified&