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Focus On Business Advisory Services: Controls at Third Parties You Rely Upon

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Does your company outsource any services? Do you rely on outsourced services? If so, there is new guidance and reports which may be of interest.
May 5, 2011

Does your company outsource any services? Do you rely on outsourced services? If so, there is new guidance and reports which may be of interest.

Reporting on Controls at a Service Organization Relevant to Security, Availability, Processing Integrity, Confidentiality or Privacy (SOC2) guidance has been released.

This guidance allows reporting designed to help meet the needs of a user of outsourced services. The report provides information on a service organization's controls over its systems relevant to:

Security: The outsourced system is protected against unauthorized physical or logical access.
Availability: The outsourced system is available as committed or agreed.
Processing Integrity: The outsourced system processing is complete, accurate, timely, and authorized.
Confidentiality: Information designated as confidential is protected as committed or agreed.
Privacy: Personally identifiable information that is collected, used, retained, disclosed and / or destroyed is managed in conformity with the commitments in the entity's privacy notice.

The benefits to having a SOC 2 report may include receiving valuable information to assess and address the risks associated with outsourced services.

The reports can play an important role in organizational oversight, vendor management programs, internal corporate governance and risk management processes, and regulatory oversight.

Visit www.rubinbrown.com and www.aicpa.com for upcoming seminars on this topic.

For more information, please contact:

Todd Pleimann - Kansas City
Managing Partner
Assurance Services Group
913.499.4411
todd.pleimann@rubinbrown.com

Michael T. Lewis - St. Louis
Partner-In-Charge
Business Advisory Services Group
314.290.3397
michael.lewis@rubinbrown.com

Meyer Saltzman - Denver
Partner
Corporate Finance and Forensic Services Group
303.952.1210
meyer.saltzman@rubinbrown.com

Audrey Katcher - St. Louis
Partner
Business Advisory Services Group
314.290.3420
audrey.katcher@rubinbrown.com

David Richert - St. Louis
Manager
Business Advisory Services Group
314.290.3313
david.richert@rubinbrown.com

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