Why would a service organization choose to hire an accountant to perform a SAS 70 engagement and issue a report? Would the clients of the service organization (in other words, the user organizations) want the service organization to provide a SAS 70 report? Why or why not? What might the service organization consider when it contracts for a SAS 70 engagement to make the resulting report the most useful for user organizations and their auditors?
Answer to relevant QuestionsAssume the role of a senior auditor on Genetech Corp, a large public corporation that performs evaluations of lab results submitted by physicians and hospitals. You have been assigned the task of planning and performing ...Sam is a senior auditor on the integrated audit of the Patriots Dynasty Corporation and is in charge of designing tests for the ICFR and financial statement audits. You are the staff auditor on the engagement. Sam asks you ...Professional Payroll Plus: On a single day in May 2007 six businesses filed complaints against Professional Payroll Plus (PPP). The Florida-based payroll provider filed for bankruptcy and is under investigation by the IRS ...Go to the PCAOB website and access Interim Standards, AU 324, Reports on the Processing of Transactions by Service Organizations. The standard covers important aspects of when and how an auditor should consider the ...What information is contained in the payroll master file? How and by whom is it updated when information changes?
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