German auditing standard for the internal control system of service providers.
IDW PS 951 governs how auditors examine and report on the internal control system of a service provider. The resulting report gives the service provider's clients assurance over the effectiveness of controls in outsourced processes. As with ISAE 3402, a distinction is made between Type 1 (appropriateness as of a specific date) and Type 2 (effectiveness over a period of time). The standard is closely aligned with the international ISAE 3402 and is widely used in German-speaking countries.
For service providers that take on processes for regulated or audit-obligated clients, an IDW PS 951 report is frequently requested. It spares the client and their auditor from conducting their own detailed examinations, but is demanding to produce and is typically accompanied by additional questions from clients. These questions overlap significantly with other security and control documentation. Those who keep the report and the accompanying responses readily at hand come across as professional and accelerate audit processes on the client side.
With Tendry, you keep your IDW PS 951 report and the associated responses centrally accessible. This allows you to handle audit and control inquiries from your clients quickly and consistently.
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