The Corporate Governance Foundation is committed to promoting good corporate governance and transparency in society. With this goal in mind, the foundation has taken the initiative to start the ISAE 3402 register. This register promotes the existence of and insight into the availability of qualitative and transparent information.
All organizations in possession of an ISAE 3402 statement (type I or type II) can register free of charge with the register, in order to provide insight into their information about the control of the organization and its processes. The register aims to map the reliability of service organizations and at the same time to stimulate the application of ISAE 3402 certification. The start of the register is one of the means of the Corporate Governance Foundation to promote the existence, application, and development of transparent information.
Is your organization ‘in control’?
ISAE 3402 is an international standard that provides transparency of processes and internal control in case of outsourcing of activities. More and more organizations are deciding to outsource activities to service organizations, due to increasing competition, globalization, and possible cost savings. However, the management of the outsourcing party remains responsible for the risk associated with such collaboration. By means of the ISAE 3402 standard and the third-party declaration on the report, service organizations demonstrate that they are ‘in control’. In times of transparency and risk management, the ISAE 3402 statement has become a ‘must have’ instead of a ‘nice to have’ in many industries.