S
SaaS - Security as a Service (cloud-based service providing organizations with security-related products or functions)
SaaS - Software as a Service (cloud service in which the cloud provider hosts a software application which customers access through a Web browser over the Internet)
SAM - State and Modernization Programme (EU process of revising state aid system started in 2012 aimed at fostering investment in areas of innovation and growth without disrupting private market activities)
SAPARD - Special Accession Program for Agriculture and Rural Development (EU budgetary program disigned to help applicant countries prepare for the Common Agricultural Policy (CAP))
SAR - Subject Access Request (right granted by the GDPR (General Data Protection Regulation) - formal or informal demand made by a data subject to a controller to exercise rights of access to their data)
SAR - Suspicious Activity Report (report required by the U.S. Bank Secrecy Act (BSA), to be filed by U.S. banking organizations when they detect known or suspected criminal violations of federal law or suspicious transactions related to money laundering activity or violations of the BSA)
SAS - Statements on Auditing Standards (reports issued by the AICPA's (American Institute of Certified Public Accountants) Auditing Standards Executive Committee that represent preferable auditing standards and practices)
SBC - Schengen Borders Code (EU code dealing with Member State border restrictions in the context of the 1985 and 1990 Schengen Agreement which allowed for the free movement of people among EU signatory states)
SCA - Stored Communications Act (US federal law - Title II of the Electronic Communications Privacy Act (ECPA) - which protects the privacy of the contents of files stored by service providers and of records held by service providers relating to a subscriber, such as the subscriber's name and billing records)
SCIFA - Strategic Committee on Immigration, Frontiers and Asylum
SDA - selective distribution agreement (an agreement in which the supplier chooses to distribute the goods only through certain outlets)
SecaaS - Security as a Service (cloud-based Software-as-a-Service (SaaS) which provides access to security functions, and allows an organization to deploy security services to remote sites)
S&D - Progressive Alliance of Socialists and Democrats (center-left political party in the European Union)
SEA - Single European Act (July 1987 act intended to create a single market of EU countries by midnight on December 31, 1992 - the goal was the creation of an area without internal frontiers in which the free movement of goods, persons, services, and capital was assured)
SFAS - Statements of Financial Accounting Standards (accounting, reporting, and disclosure requirements of the Financial Accounting Standards Board (FASB) - nongovernmental body established in 1973 - standards considered Generally Accepted Accounting Principles (GAAP))
SGEI - Services of General Economic Interest (EU concept of services considered essential to economic well-being - services, both market and non-market, which public authorities classify as being of general interest and subject to specific public service obligations - energy, telecommunications)
SGP - Stability and Growth Pact (agreement signed in 1997 among the Eurozone states, at the insistenced of Germany, setting targets for permissible levels of budget deficit and public debt that member states would attempt to meet)
SI - sector inquiries (mechanism allowing the European Commission to investigate the administration of aid measures in a particular economic sector or area)
SIS - Schengen Information System (EU database used for the collection and sharing of data related to border security and management)
SLC - substantial lessening of competition (EU test used in the area of business mergers to determine how a merger will impact competition)
SMEs - small and medium-sized enterprises (EU category of business size referring to individually-owned and medium-sized employers - businesses other than multinational corporations)
SMP - Securities Markets Programme (European Central Bank (ECB) program of financial intervention involving the purchase of sovereign bonds or Euro area member states on the secondary markets)
SO - Statement of Objections (formal notification by the European Commission of an investigation process used in situations involving alleged violations of competition rules)
SOC - Security Operations Center (a centralized group that deals with security issues within an organization or enterprise, and is responsible for the monitoring, reporting, and handling of security incidents)
SOC - Service Organization Controls (controls at an outside/third party organization which provides contract services such as data processing or billing to an organization -
also the name for a report issued by an independent CPA based on AICPA standards involving a review/analysis of the controls at the service organization
since 2017 Service Organization Controls has been replaced by the term "System and Organization Controls")
SOC - System and Organization Controls (term used to describe controls at an outside/third party organization which provides contract services such as data processing or billing
- also the name for a report issued by an independent CPA based on AICPA standards involving a review/analysis of the controls at the service organization
- prior to 2017 SOC stood for "Service Organization Controls")
SOCaaS - Security Operations Center-as-a-Service (outsourced or contracted security service in which all the necessary components of a Security Operations Center (SOC) (SIEM, security analysis, incident response) are managed offsite, and delivered as a cloud-based service by the SOCaaS provider)
SORN - System of Records Notice (a formal notice to the public, required of U.S. federal agencies, that provides information about a system, what types of personal information about individuals is collected, how it is used, and how it can be corrected)
SPC - Special Protection Committee (EU body dealing with issues of social welfare, poverty, and social goals)
SPS - EU Agreement on the Application of Sanitary and Phytosanitary Measures
SPSI - Social Protection and Social Inclusion (EU area of interest dealing with health, pensions, poverty, and benefits (a safety net) and the mechanisms which might be used to provide benefits to as many individuals as possible)
SRB - Single Resolution Board (EU governing body which oversees the Single Resolution Mechanism (SRM) for dealing with bank failures and bail-outs)
SRF - Single Resolution Fund (EU fund, funded by contributions from member state banks, to be available for bailing out financially troubled or failed banks)
SRM - Single Resolution Mechanism (EU system of financial reform and intervention, along with rescue plans, to manage Euro-area bank failure)
SSAE - Statements on Standards for Attestation Engagements (name for pronouncements issued by the American Institute of Certified Public Accountants (AICPA) applicable to attest engagements - engagements where accounting data or a business process, is examined, tested, and verified - limited to specific areas or activities, such as forecasts, internal control reviews, or compliance with legal requirements)
SSARS - Statements on Standards for Accounting and Review Services (name for pronouncements issued by the American Institute of Certified Public Accountants (AICPA) applicable to compilations and reviews - essentially the preparation or review of unaudited financial reports - of the financial data of nonissuers (smaller businesses which are not publicly traded))
SSGI - Social Services of General Interest (welfare schemes falling within the scope of EU state aid funding and rules - situations where private operators provide publicly-defined long-term care services to the elderly in return for remuneration by public authorities at fixed rates (house cleaning, laundry, and personal care))
SSM - Single Supervisory Mechanism (EU regulation, in force in November 2013, which assigns the supervision of significant Euro-area banks to the European Central Bank (ECB) in cooperation with the national supervisory authorities)
SSNIP - small but significant and non-transitory increase in prices (EU description of inflationary economic price trends)
SSTS - Statements on Standards for Tax Services (name for pronouncements issued by the American Institute or Certified Public Accountants (AICPA) that include enforceable standards for tax practice)
SWIFT - Society for Worldwide Interbank Financial Telecommunications (industry-owned cooperative supplying funds transfer messages via a dedicated computer network internationally to more than 7,000 financial institutions in 197 countries)