Progressive Financial Services, Inc. Successfully Completes SSAE 16 Type II Audit|
TEMPE, ARIZONA, April 2, 2014 - Progressive Financial Services, Inc., a privately held corporation specializing in the field of debt collection, today announced
that it has recently completed the second consecutive examination in conformity with Statement on Standards for Attestation Engagements (SSAE) No. 16 Type II Audit. The
SSAE 16 Type II Audit was issued to replace Statement on Auditing Standards 70 ("SAS 70") and converge with international standards. The SSAE 16 Type II Examination
(Reporting on Controls at a Service Organization) evaluated the time period of September 1, 2013 through February 28, 2014.
This SSAE 16 Type II Audit was conducted by A-lign CPAs. A-lign CPAs have world-renown experience in conducting and providing SSAE auditing services. The examination
included all three of Progressive’s operation centers physically located in Arizona, South Dakota, and Pennsylvania. All policies and procedures in relation to data and
financial security were reviewed by A-lign CPAs.
Collection agencies provide a critical service to their clients. The proper controls are necessary to ensure the security, confidentiality, and integrity of all
sensitive information. While many companies working with sensitive data struggle to efficiently meet security compliance standards, Progressive continually delivers
secure solutions to each and every client.
An SSAE 16 Type II examination is widely recognized, because it represents that a service organization has been through an evaluation of their control activities
as they relate to an audit of the financial statements of its customers. This is the second consecutive year in which Progressive has completed this rigorous examination
with zero findings. Progressive believes that it is simply not enough to exceed client standards regarding compliance and data security; therefore, they strive to
continually exceed their own standards.
Progressive Financial Services, Inc. successfully completed this meticulous evaluation, demonstrating its continual effectiveness of the company’s policies,
procedures, and controls. This company has been founded on sound business ethics accompanied by a proven track record of hiring and retaining dedicated and top
quality personnel, from the collectors who contact the individuals to the management team who ensures the organization is operating at maximum efficiency. Completion
of this examination exemplifies Progressive’s ongoing dedication to creating the optimal collection agency that strives to separate itself from the competition. This
particular audit is unique in that many of Progressive’s competitors have yet to complete such a successful examination. The conclusion of this audit paves the pathway
for Progressive’s ongoing success and future innovations.
A-lign CPAs specifically state in the evaluation, "In our opinion, in all material respects, based on the criteria
described in PFS’ assertion in Section 2 of this report:
The description fairly presents the system that was designed and implemented for the period September 1, 2013 through
February 28, 2014.
The controls related to the control objectives stated in the description were suitably designed to provide
reasonable assurance that the control objectives would be achieved if the controls operated effectively for the
period September 1, 2013 through February 28, 2014 and user entities applied the complementary user entity controls
contemplated in the design of PFS’ controls for the period September 1, 2013 through February 28, 2014.
The controls tested, which together with the complementary user entity controls referred to in the scope paragraph
of this report, if operating effectively, were those necessary to provide reasonable assurance that the control
objectives stated in the description were achieved, operated effectively for the period September 1, 2013 through
February 28, 2014.”
||© 2011 Progressive Financial Services,
Inc. All rights reserved. This communication is from a debt collector.
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