ISA3402 is the international standard on Assurance Engagements 3402. It provides a framework for auditors to produce assurance reports on controls at a service organization.
This International Standard on Assurance Engagements (ISAE) deals with assurance engagements undertaken by a professional accountant in public practice to provide a report for use by user entities and their auditors on the controls at a service organization that provides a service to user entities that is likely to be relevant to user entities’ internal control as it relates to financial reporting.
Compared to SAS70, it provides more transparency over the controls and requires a written statement from management expressing their commitment over the implemented controls.
ISA3402 will replace SAS70 as of June 15, 2011.