Professional Placement Services Successfully Completes SSAE 16
Professional Placement Services, LLC (PPS) received affirmation of its collection and payment processing, technology and security practices with the successful completion of a SSAE 16 audit and receipt of its Service Organization Controls Report (SOC1 Report Type II). The SSAE 16 audit supersedes the former SAS 70 audit. The former SAS 70 report has been replaced with SOC1 Type I and Type II Reports now falling under SSAE 16 guidance.
SVA Certified Public Accountants, S.C. (SVA), an independent accounting and auditing firm, has issued the SOC1 Type II Report indicating that PPS’ collections processing system fully satisfies all SSAE 16 audit and test criteria.
“The primary objective of PPS is to ensure timely collection of client receivables in compliance with all laws and regulations” said Irina Johnson, PPS President. “A successful SSAE 16 audit completion requires a company to operate with a greater focus on risks and monitoring of its control environment, so this validation by SVA, an independent third-party, provides assurance that our system of controls over security, technology, collection and payment processing operates effectively.”
PPS Principal Craig Johnson has seen firsthand an increasing emphasis on SSAE 16 in the collection industry. “Not only do we have millions of client dollars moving through our system with respect to our collection and payment practices, we also handle confidential client data. That’s why it’s crucial that we provide customers with complete confidence in our collection practices, payment processing and related controls.”
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