SSAE 16 Reports Clause Samples
The SSAE 16 Reports clause requires a service provider to furnish reports that demonstrate their internal controls and processes have been independently audited according to the Statement on Standards for Attestation Engagements No. 16 (SSAE 16). Typically, this involves providing a SOC 1 report, which details the effectiveness of controls relevant to financial reporting, and may be requested annually or upon significant changes to the provider’s systems. The core function of this clause is to give clients assurance that the service provider maintains adequate controls, thereby reducing the client’s risk related to outsourced services.
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SSAE 16 Reports. The Administrator will furnish to the Trust, on a semi-annual basis, a report in accordance with Statements on Standards for Attestation Engagements No. 16 (the “SSAE Report”) as well as such other reports and information relating to the Administrator’s policies and procedures and its compliance with such policies and procedures and with the laws applicable to its business and its services, as the parties may mutually agree upon.
SSAE 16 Reports. State Street will furnish to the Trust, on a semi-annual basis, a report in accordance with Statements on Standards for Attestation Engagements No. 16 (the “SSAE Report”) as well as such other reports and information relating to State Street’s policies and procedures and its compliance with such policies and procedures and with the laws applicable to its business and its services, as the parties may mutually agree upon.
SSAE 16 Reports. In the event Bank undertakes any SSAE-16 audit, Bank shall provide Retailer copies of such audit reports within thirty (30) days of the issuance of the report.
SSAE 16 Reports. The Custodian will furnish to the Trust, on an annual basis, a report in accordance with Statement on Standards for Attestation Engagements No. 16 or such other equivalent report as may be implemented by applicable accounting or regulatory authority as a successor thereto.