International Standard on Assurance Engagements (ISAE) No. 3402, Assurance Reports on Controls at a Service Organization, was issued by the International Auditing and Assurance Standards Board (IAASB), which is part of the International Federation of Accountants (IFAC). ISAE 3402 was developed to provide an international assurance standard for allowing public accountants to issue a report for use by user organizations and their auditors (user auditors) on the controls at a service organization that are likely to impact or be a part of the user organization’s system of internal control over financial reporting. Think of ISAE 3402 as the international version of SSAE 18.
For additional information regarding ISAE 3402 audits, please view our video: