What is the most important IS audit consideration when outsourcing a customer credit review system?

Agreeing to external security reviews is a critical consideration when outsourcing a customer credit review system because it directly impacts the ability to assess and ensure the security and reliability of the outsourced services. External security reviews provide an independent validation of the service provider's security controls, practices, and ability to protect sensitive customer data.

This consideration helps ensure that the provider not only claims to meet security standards but can also demonstrate adherence to those standards through regular, objective assessments. The findings from these reviews can indicate the effectiveness of the provider's security measures, highlight vulnerabilities, and assess compliance with applicable regulations.

While provider claims about security standards and the organization's security policies are also important, relying solely on claims or internal policies does not provide the same level of assurance as an external assessment. The provider's market reputation is a factor to consider, but it does not necessarily correlate with the effectiveness of their security practices. Thus, external reviews are key to making informed decisions and managing risks when outsourcing critical systems like customer credit reviews.