SAS 70 Type || stands for Statement on Auditing Standards No. 70 (SAS70) Type II Audit. That's an audit usually a Cloud / Utility Computing providers do it for the unbiased opinions from Independent Auditors that certifies that a Service Organization has had an in-depth audit of its controls (including control objectives and control activities) and verifies that a service organization is providing a secure Cloud / Utility Computing Environment for the auditing period.

SAS 70 Type II Audit is required every year.