Ratings are an assessment of the quality of an ISAE 3000-report. The ratings of the foundation for Corporate Governance (the agency) present the assessment of the agency on the structure, content and quality and reliability of the ISAE 3000 reporting of the service organization.
The foundation for Corporate Governance strives for continuous improvement of external reporting by organizations. For certain organizations areas for improvement of the ISAE 3000 report certainly exist. The foundation stimulates the continuous improvement by rating the reports in accordance with the ISAE 3000 standard and internal guidelines.
Absolutely not. It might be possible that these reports are not assessed by the rating agency. Rating is a measure to improve the quality.
The foundation for Corporate Governance hires ISAE 3000-professional for the rating of ISAE 3000-reports. This brings certain costs for the foundation which will be charged to the service organization.
The rating is no guarantee that the internal control is sufficient. The engaged auditor issues an opinion on this aspect. No rights can be claimed, based on this rating.
The rating is performed by independent external ISAE 3000-professionals. Every rating is reassessed by a second rating officer. If an organization tries to influence the outcome of this rating, the organization will be excluded from the ISAE 3000-register for a period of minimal three years.
Yes, you can issue your objections to the board of the foundation. The board of the foundation for Corporate Governance withholds the right to exclude organizations, remove organizations from the register or adjust the rating methodology at any stage.