Outsourced Service Provider Audit Report (OSPAR)
The Association of Banks in Singapore (ABS) has established the Guidelines on Control Objectives and Procedures for Outsourced Service Providers since 2015 to help Financial Institutions (FIs) to assess whether their service providers maintain the same level of governance over entity-level controls, general IT controls, and service controls as if the FIs managed the services on their own. The ABS guidelines recommend that Singapore FIs select OSPAR (Outsourced Service Provider Audit Report) Audited Outsourced Service Providers.
Alibaba Cloud has engaged with the ABS approved auditors to perform an OSPAR audit over the control objectives set out in the guidelines, the latest OSPAR Report is available to Alibaba Cloud customers in Alibaba Cloud Compliance Repository.
For more details, please refer to the ABS website.
