Which audit type has been largely replaced by newer approaches since 2011?
Which audit type has been largely replaced by newer approaches since 2011?
SAS-70 was largely replaced by newer approaches, such as SSAE-16, beginning in 2011. This change was implemented to provide more transparency and standardization in the auditing of service organizations.
Correct: Answer C The SAS 70 was a report used in the past primarily for financial reporting and was oftentimes misused in the service provider context. The SSAE 18 standard and subsequent SOC reports are its successors.
correct but a pointless one.
SSAE-16 has also been replaced by SSAE-18
What a pointless question. Why do we need to care about an audit type that was superseded in 2011??
SAS-70 (Statement on Auditing Standards No. 70) was an older standard used to audit service organizations' internal controls. However, it was replaced in 2011 by the SSAE-16 (Statements on Standards for Attestation Engagements No. 16), which later evolved into SSAE-18. Why the other options are incorrect: A. SOC Type 1 → Still in use today; focuses on a snapshot of controls at a specific point in time. B. SSAE-16 → Introduced in 2011 to replace SAS-70, later updated to SSAE-18 in 2017. D. SOC Type 2 → Still widely used; focuses on ongoing operational effectiveness of controls over a period of time.