Type I SAS 70 Engagement
A Type I report describes the service organization’s description of controls at a specific point in time (e.g. December 31, 2006). The auditor will perform procedures to obtain reasonable assurance about whether:
- the description of controls presents fairly, in all material respects, the aspects of the service organization’s controls that may be relevant to the users’ internal control as it relates to an audit of financial statements.
- the controls included in the description were suitably designed to achieve the control objectives specified, if those controls were complied with satisfactorily, and the user applied those controls contemplated in the design of the Organization’s controls.
- such controls had been placed in operation as of a specific point in time (e.g. December 31, 2006).
