SIMM Associates Successfully Completes Type II SAS 70 Audit and PCI Certification

SIMM Associates, Inc. (“SIMM”), a leading national collection firm specializing in delinquent account receivable solutions, is pleased to announce that it has recently completed a service auditor’s review, commonly known as a SAS 70 audit, of its Receivables Management Services.

The audit was performed by SAS70 Solutions, a nationally recognized independent auditing firm. Included in the scope of the audit were SIMM’s receivables management and client billing control areas. The general controls that support these activities were also examined.

In order to complete both the audit and the certification, SIMM management developed control objectives for the significant areas of internal control that support the Receivables Management Services.

Jeff Simendinger, COO commented, “SIMM management recognizes that Sarbanes-Oxley legislation has placed an increased focus on the internal controls of valued business partners.  The SAS 70 audit report is designed to provide clients with a certain level of assurance regarding the controls that are maintained by SIMM management.”

In addition to SAS 70 Type II, SIMM also completed PCI Certification in late May 2010. The audit was performed by Crimson Security, and tested processes and controls associated with the Payments Card Industry (PCI) Data Security Standard. PCI applies to creditors, agencies and vendors that store and process consumer credit card information. PCI compliance requires tight security policies and procedures around network, infrastructure, data and physical security, as well as ongoing monitoring, testing and system controls

ABOUT SIMM Associates, Inc.
SIMM Associates, Inc. specializes in delinquent account receivable solutions for credit card, auto finance, consumer loans and sub prime debt recovery. SIMM is a privately held company that has provided account receivable management services to creditors since 1991. For more information on SIMM, please contact Tom Nusspickel SVP, tomn@simmassociates.com