Outsourced Service Provider’s Audit Report (OSPAR)
Amazon Web Services (AWS) achieved the Outsourced Service Provider’s Audit Report (OSPAR) attestation. AWS’s alignment with the Association of Banks in Singapore (ABS) Guidelines on Control Objectives and Procedures for Services Providers (Outsourcing Guidelines) demonstrates to customers AWS’s commitment to meeting the high expectations for cloud service providers set by the financial services industry in Singapore. Customers can leverage OSPAR to conduct their due diligence, minimizing the effort and costs required for compliance.
What is OSPAR?
The ABS Outsourcing Guidelines provide that Singapore banks’ outsourced service providers (“OSPs”) who provide material outsourced services and/or have access to the financial institution clients’ information should engage an external auditor to issue an OSPAR. Issuance of an OSPAR involves an external audit of the OSPs’ controls against the criteria specified in the ABS Outsourcing Guidelines.
Which services are covered by the OSPAR attestation?
The AWS services that are in scope of the OSPAR attestation can be found within AWS Services in Scope by Compliance Program. If you would like to learn more about using these services and/or have an interest in other services please contact us.