IAASB issued an assurance standard on controls at service organizations,
Recognizing the widespread international use of outsourcing, it released International Standard on Assurance Engagements (ISAE) 3402, Assurance Reports on Controls at a Service Organization. The standard addresses reports on the description, design and operating effectiveness of controls relating to the broad range of services that service organizations provide. It is effective for service auditors' reports covering periods ending on or after June 15, 2011. The Journal of Accountancy has this story at http://www.journalofaccountancy.com/Web/20092446.htm
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