Lombard, IL, August 02, 2011 --(PR.com
)-- Stoneleigh Recovery Associates, LLC (SRA), an industry-leading accounts receivable management company, announced today the successful completion of the SSAE 16 audit, one year after attaining it’s SAS 70 Type II audit certification.
The Statement on Standards for Attestation Engagements (SSAE) No. 16 was finalized by the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA) in January 2010. The SSAE 16 accreditation, which effectively replaces SAS 70 as the authoritative guidance for reporting on service organizations, was awarded to SRA after a completion of the final audit this past April, with a formal effective date of June 15, 2011.
The SAS 70 classification is a widely recognized auditing standard developed by the American Institute of Certified Public Accounts (AICPA) that measures service organizations’ controls and safeguards. It is recognized as one of the most rigorous assessments of a servicing company’s internal processes, systems and controls.
The new SSAE 16 classification was drafted with the intention and purpose of further updating the US Service Organization Reporting Standard, so that it mirrors and complies with the new International Service Organization Reporting Standard ( ISAE 3402).
Steven Fuernstahl, VP of Operations at Stoneleigh Recovery Associates, LLC, stated: “At SRA, we are committed to provide the highest level of service to our customers and business partners. SRA’s dedication to a compliant and secure operation has now been documented, reviewed, and audited by an independent third party. Our success in achieving a SSAE 16 certification demonstrates the company’s commitment to operating under the highest standards of business practices and validates the best-in-class solutions that we provide to our clients.”Stoneleigh Recovery Associates
, LLC, was founded in 2007 with a principal focus on Primary Credit Card Collection. Stoneleigh Recovery Associates leverages state-of-the-art technology and a commitment to superior performance to provide their clients with professional, efficient and high-return debt recovery services.