The DBA International Certification Council is pleased to announce the approval of the following firms to perform independent third-party audits for Certified Professional Receivables Companies (CPRC) as part of DBA International’s Debt Buyer Certification Program:
Acumen Solutions Group
Corporate Advisory Solutions, LLC
The EDGE Consulting
Moss Adams LLP
TECH LOCK, Inc.
Stacey Schacter, Chair of the Certification Council indicated that he was “very pleased with the response DBA International received from highly qualified auditing firms wishing to participate in the program and that the selection of additional firms will continue as the program matures.”
The CPRC designation is granted to companies who conform to 19 uniform industry standards of best practices. These standards address core principles including account documentation, chain of title, consumer complaint and dispute resolution, statute of limitation compliance, vendor management, credit bureau reporting, resale, and other relevant operational procedures.
Companies holding the CPRC designation are required to submit to recurring compliance audits performed by independent third party auditors in order to maintain their certified status and membership with DBA International. Companies will be able to select an auditing firm from the list provided on the DBA website or may seek preapproval to use another auditor based on certain conditions.
The Certification Council will seek remedial action when a compliance audit shows a lack of conformity with the certification standards. However, if remedial action cannot be achieved or there has been a willful and intentional violation, the Council may take disciplinary action.
The Debt Buyer Certification Program was approved by the DBA Membership in February 2013 after a Certification Task Force spent nearly a year in its development. DBA International has been accepting applications since March 2013 from companies and individuals who wish to become certified. DBA issued its first certification in May 2013.
In early 2014, DBA will reissue the Audit Firm RFP and perform a second round of reviews and approvals to ensure a diverse selection of qualified auditors for CPRC audits. For additional information on the Debt Buyer Certification Program, please visit DBA’s website at www.dbainternational.org/certification/certification.asp.
DBA International (DBA) is the nonprofit trade association that represents the interests of companies that acquire distressed asset portfolios on the secondary market. Founded in 1997 by a small group of companies to provide a forum to advance best practices within the industry, today DBA has grown to represent over 600 companies. DBA provides its members with networking, educational, and legislative advocacy opportunities through an annual conference, an executive summit, regional seminars, state and regional committees, newsletters, webinars, teleconferences, and other media. DBA maintains a code of ethics and a national certification program that promote uniform industry standards of best practice which member companies must comply with in order to maintain membership. DBA is headquartered in Sacramento, California.