July 29, 2020: Spire Recovery Solutions, a professional, nationally licensed full-service debt collection agency, announces the successful completion of the extensive Service Organization Control (SOC) 1 Type 1 audit from the American Institute of Certified Public Accountants.
“Our team is very excited to share the news of our SOC 1 certification,” says Spire Recovery Solutions’ Chief Compliance Officer Clifton Gibson. “We understand our responsibility to minimize risk and safeguard consumer data. The results of our comprehensive SOC 1 audit validate our business and IT processes and assure clients we have strong internal controls to ensure the integrity of financial information. We are proud to implement the strictest security and privacy measures that help to provide transparency, promote accountability, and prevent fraud.”
What is SOC 1?
Service Organization Control 1 Type 1, or SOC 1, was developed by the American Institute of Certified Public Accountants (AICPA) as an examination for service organizations that impact their client’s financial reporting. SOC 1 Type 1 certification provides a detailed report of the suitability of an organization’s internal controls for services relevant to financial reporting. The SOC 1 audit evaluates and tests the effectiveness and efficiency of organizational objectives and provides an in-depth report that is an attestation of those controls.
What SOC 1 Compliance Means
Conducted by an independent auditor, Spire Recovery Solutions’ SOC 1 Type 1 audit certifies that our company has the controls and auditing procedures in place to effectively manage and protect consumer data. It validates the significant focus we put on the practices, processes, and procedures that we implement throughout the entire organization and recognizes our compliance with the strict industry regulations that surround data privacy and data security.
“SOC 1 certification helps secure our position as a leading provider in the accounts receivable management industry,” continues Mr. Gibson. “We conduct business responsibly and provide dependable and secure recovery services. By successfully completing the SOC 1 audit process, we continue to be proactive in our commitment to information security and confidentiality. This certification sends an important message to our clients about our dedication to keeping their sensitive information secure; they can be assured that working with Spire helps to not only meet recovery goals but also helps to protect their data, their brand, and their reputation.”
About Spire Recovery Solutions
Spire Recovery Solutions is a professional, nationally licensed full-service debt collection agency that assists creditors in the recovery of outstanding balances while providing consumers with exceptional customer service. The Company’s customized processes and state-of-the-art technology provide the transparency and compliance that clients and consumers trust and rely on while working together toward account resolution. Spire Recovery Solutions is headquartered in Lockport, NY.