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An ISAE 3402 Type II report with no findings is a positive result. The fact that FIQAS achieves this outcome year after year shows that it is not a one-off, but the result of continuous attention to how processes operate in practice.
This year again, the independent ISAE 3402 Type II examination confirms that all control objectives included in the report were achieved. The related control measures operated effectively throughout the entire review period.
From audit moment to daily practice
An audit is often experienced as a moment of assessment. A period is closed, documentation is reviewed and processes are looked back on. In reality, an ISAE 3402 Type II report primarily reflects what happens between audits.
It reflects daily practice, in which processes are consistently followed, responsibilities are clearly defined, changes are implemented in a controlled manner, and security is a structural part of the way of working.
The absence of findings shows that these principles are not only documented, but are also applied consistently and effectively in practice.
Why “no findings” is not self-evident
Financial processes are becoming increasingly complex. Systems are more interconnected and legislation and regulations continue to evolve. In this context, audit findings are more common than exceptional.
The fact that no findings are identified on a structural basis therefore says something about the maturity of both process design and execution.
What this means for our customers
For customers who support parts of their order-to-cash process with Abillity® or outsource these processes to FIQAS, the ISAE 3402 Type II report is not a formality. It is an important element of their accountability towards their auditor.
For FIQAS, the report confirms that all agreed control objectives have been met and that the processes entrusted to us by our customers are demonstrably and structurally under control. Not only during an audit, but throughout the entire year.
