At Securance, we believe in maintaining robust internal controls and promoting integrity within business operations. Our services are tailored to meet the stringent requirements set by regulatory bodies, ensuring your organisation is always compliant and resilient. As your dedicated implementation partner, we bring deep expertise and a proven track record in successfully managing risk and compliance challenges across various industries.
Internal Governance & Control
As organisations grow and outsourcing increases, maintaining strong internal control and business integrity becomes essential. Managing the entire chain with multiple stakeholders is challenging for many companies. Strong internal control is essential to prevent scandals and ensure resilience. Regulators recognising the growing complexity, have established stringent rules and frameworks like DORA, DNB guidelines, and the Cyber Resilience Act. These regulations form the baseline for a secure system. Securance assists organisations in not only meeting these baseline requirements but also achieving self-sufficiency in internal control. This ensures your systems are mature enough to comply with applicable regulations, needing minimal adjustments for exceptions. We always strive to help our clients achieve at least a maturity level 3, preferably 4, in their internal control processes. Our approach involves clearly defining business functions, processes, and responsibilities. We conduct thorough risk analyses and offer training and awareness sessions to strengthen knowledge and culture. Many of our clients struggle to see the bigger picture. We provide the support and expertise needed to optimize control over their internal systems and processes. Investing in internal control means investing in the stability and resilience of your organisation.
Securance Advisory Values
Innovation
Embracing a culture of innovation, we continuously seek groundbreaking solutions and technologies. Staying at the forefront of industry advancements to provide clients with cutting-edge approaches to assurance and cybersecurity.
Integrity
Our commitment to integrity is unwavering: we conduct ourselves with honesty, transparency, and ethical practices, fostering trust with our clients, partners, and team members. We are always actively looking to be of assistance
Excellence
We relentlessly pursue excellence in every facet of our work, setting and upholding the highest standards to deliver exceptional solutions that consistently surpass client expectations.
Client Centricity
Placing our clients at the forefront, we tailor our solutions to meet their unique needs, ensuring a personalized and responsive approach that builds lasting partnerships based on understanding. collaboration, and exceeding expectations
Collaboration
We value collaboration, recognizing that our collective strength lies in the diverse skills and perspectives of our team. By fostering an environment of teamwork, we amplify our ability to solve complex challenges and drive Innovation
Continuous Improvement
Committed to lifelong learning and development, we embrace a mindset of continuous improvement, encouraging our team to evolve and adapt to emerging trends, technologies, and best practices, ensuring we remain at the forefront of our industry
ISAE 3402; assurance on outsourcing
The ISAE 3402 standard is an internationally recognized audit standard issued by the International Auditing and Assurance Standards Board (IAASB). The examination by the auditor of a service organization is widely accepted as it represents a thorough review of the internal control objectives and activities of a service organization. The audit framework and associated control measures are detailed in the System and Organization Report (SOC).
Outsourcing throughout history
Economies of scale
Since the industrial revolution, organizations have pondered on leveraging their competitive advantage to expand markets and increase profits. The predominant model in the 19th and 20th centuries was the large integrated organization. In the 1950s and 1960s, businesses broadened their bases to capitalize on economies of scale.
COSO Enterprise Risk Management
When an organization aims to achieve its objectives, it must address risks that threaten these objectives and manage them. COSO has defined various elements of an internal control system for this purpose. The COSO model depicts the direct relationship between:
Expansion obtains ISAE 3402 Type II statement
Utrecht, April 25, 2019 – DMS provider Expansion obtained the ISAE 3402 Type II statement in January 2019. Assisted by Securance, Expansion’s clients receive an objective confirmation of their service processes’ reliability. Conclude Accountants conducted the audit.
ISO 9001 Quality Check
Like all ISO standards, ISO 9001 undergoes a systematic review every five years to decide whether the standard remains valid or needs updating. This is necessary to ensure that the standard remains globally relevant and meets the needs of its users.
What’s a better fit? An SOC 1 or an SOC 2?
The general term for third-party risk reporting by service organizations to user organizations is Systems and Organization Control Report or SOC report. This term originates from the American Institute of Certified Public Accountants (AICPA) as a replacement for the SAS70 framework.
Enterprise Risk Management
If an organisation wants to achieve its objectives, it must manage and control the risks that threaten those objectives. COSO has defined the various elements of an internal control system for this purpose.
The COSO model illustrates the direct relationship between:
How Does a Service Organisation Prepare for ISAE 3402?
The ISAE 3402 standard requires service organisations to take a proactive approach in meeting the requirements imposed by the service auditors (accountants). Therefore, service organisations can greatly benefit from conducting an ISAE ‘Readiness Assessment,’ which will help in understanding the reporting requirements.
These reporting requirements include:
- Preparing a description of the service organisation’s system.
Preparing a written management statement of assertion, which will be included in the final ISAE 3402 report.
What is ISO 9001
The ISO/IEC 9001 standard is the international standard for quality management. It focuses on two key aspects: meeting customer requirements and enhancing customer satisfaction. The ISO 9001 standard specifies several specific aspects within it.