Long live SSAE 16 and ISAE 3402!
One of the most misunderstood things about SAS 70 was the fact that it was technically only a valid auditing standard in the United States, even though SAS 70 reports are done for non-US based service providers and are relied upon by businesses and auditors worldwide. However, on or before June 15, 2011, that will change. As of that date, Statement on Standards for Attestation Engagements (SSAE) 16 and International Standards on Attestation Engagements (ISAE) 3402 will replace the venerable SAS 70. SSAE 16 is issued by the American Institute of Certified Public Accountants (AICPA) and ISAE 3402 is issued by the International Federation of Accountants (IFAC).