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Third Party Reporting
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TPR Services provide our clients with a means of enhancing trust, communication and relationships with their supervising authorities, business partners and stakeholders by providing independent assurance as to the fairness of management statements and representations or effectiveness of internal controls. There are three types of reporting services provided by us within Third Party Reporting:

  • General Third Party Reporting - provides either positive or limited assurance on subject matter as evaluated against suitable criteria;
  • Service Organization Reports - refers to engagements to provide assurance on controls in place at service organizations as they relate to the management assertions of an user organization;
  • Agreed-Upon Procedure - executing procedures agreed to by the report recipients and report on the results of our procedures. We are engaged by a client to issue a report of findings based on specific procedures performed on subject matter.

Specifically, Third Party Reporting Services help a client:

  • Establish trust in its processes and practices with current business partners and convert potential business partners to new partners;
  • Re-establish trust when a relationship has been damaged by failure to meet authorities or business partner expectations regarding business processes and practices;
  • Improve transparency of business processes, thereby reducing or eliminating the need for authorities and business partners audits and inspections by the auditors of the supervising authorities or business partners;
  • Comply with requirements of specified laws, regulations, rules,contracts, or grants and assist business partners to comply with regulations;
  • Ensure the effectiveness of the entity's internal control over compliance with specified requirements.

Attestation or assurance reporting engagement is an engagement where an audit and assurance professional either examines management's assertions regarding a particular subject matter or the subject matter directly. The audit and assurance professional's report consists of an opinion on the following:

  • Compliance with laws, regulations, rules, contracts, or grants;
  • The Subject Matter - Direct Reporting Engagement;
  • Management's Assertion - Attest Reporting Engagement;
  • Particular subject matter - Examination Reporting Engagement;
  • Specific tests and audit procedures - AUP - Agreed-Upon Procedure.

Blue Lab Consulting audit professionals provide Third Party Reporting services that are designed to help our clients address specific issues. These include prospective reporting and other forms of attestation, reviews or reporting.

We provide attestation service as an audit / attestation service in which an auditor (certified as CISA, CIA, ACCA, Chamber of Financial Auditors of Romania) expresses a conclusion about the reliability of a subject matter or written statement that is the responsibility of someone else.