Auditors are in the business of making money by auditing your company. If they write reports with no significant results, people may question the value of their reports. Often times operations and IT departments are not prepared for the detailed questions that auditors will bring. With AlphaBetas involved in your Audit planning, you will be prepared for these questions and the processes to provide automated answers to these questions will already exist.
Why Do We Need A SAS 70 Audit?
More and more investment groups and firms are requiring companies they invest with to conform to a standards based auditing measure. Companies that ignore this are soon found outside the "honeywell" of free flowing investment capital.
What was once strictly the purview of ISO 2000 and similar standards for manufacturers to adhere to, has spread across industries to include other types of standards. Investors want standards that ensure that accounting is being done correctly, and is verifiable, with audit trails and controls being checked often for compliance.
Stories are breaking every day, of companies losing sensitive data, of banks mismanaging debt portfolios, and wall street tickers plummeting due to over-leveraged balance sheets. Auditors are calling for stricter, more transparent, business practices.