Finance chiefs who are responsible for conducting due diligence of their cloud-computing providers may face barriers because of the industry's relative newness. Obstacles include a lack of legal and regulatory guidance and rapid changes in the market for services. Currently, a company's contract with a cloud provider offers the best means for managing the relationship. However, CFOs may still have trouble negotiating favorable terms. The AICPA offers attestation engagements on controls at service organizations and cloud-computing providers; visit www.AICPA.org/SOC.
Published in Brief: