Hayward, CA September 30, 2020
Collection Bureau of America, a national accounts receivable management and debt recovery firm, today announced that it has recently completed its Service Organization Controls 2 (SOC 2) examination under the Statement on Standards for Attestation Engagements No. 18 (AT-C section 205, Examination Engagements) of the AICPA as of September 30, 2020 that was performed by an independent auditing firm.
Completion of the SOC 2 Type 1 examination indicates that selected Collection Bureau of America processes, procedures and controls have been formally evaluated and tested by an independent accounting and auditing firm. The examination included the Company’s controls related to the 2017 Trust Services Criteria for Security.
An SOC 2 examination is performed in accordance with AT-C section 205, Examination Engagements. SOC 2 is designated as an acceptable method for a user entity’s management to obtain assurance about service organization internal controls set forth in TSP section 100, 2017 Trust Services Criteria for Security, Availability, Processing Integrity, Confidentiality, and Privacy (AICPA, Trust Services Criteria) (applicable trust services criteria) without conducting additional assessments.
A SOC 2 examination is widely recognized, because it represents that a service organization has been through an evaluation of their control activities as they relate to the applicable Trust Services Criteria. A Type 1 report addresses the service organization’s system description and the effectiveness of the design of the service organization’s controls.
“Completing the SOC 2 examination is an important part of Collection Bureau of America’s overall commitment to comprehensive compliance in each area of our agency. We are working to be proactive in all areas of our firm, and this examination gives us confidence over our security and systems to continue to be a leader in our industry.” Shawn DeLuna, CEO
About Collection Bureau of America
Collection Bureau of America is a national accounts receivable management and debt recovery firm working with leading corporations from a wide array of industries to provide solutions to reduce delinquencies and improve outstanding debt recovery rates of return. For more information about Collection Bureau of America, visit: https://www.CollectionBureauofAmerica.com