NWP Services Corporation Successfully Completes SSAE 16 Type II Audit Report for Multifamily Customers

COSTA MESA, Calif., Dec. 10, 2012 /PRNewswire/ -- NWP Services Corporation (NWP), a leading provider of utility management, resident and property operation services, today announced successful completion of the U.S. SSAE 16 Type II Report (Statement on Standards for Attestation Engagements No. 16). Last year NWP was the first company in the multifamily industry to issue this report. NWP continues this leadership for the multifamily industry.

The report validates that NWP has completed a rigorous independent audit of its control objectives and activities within product, operations and related service areas. SSAE 16 is a standard developed by the American Institute of Certified Public Accountants (AICPA) for service organizations. The standard was finalized in January 2010 and extends and replaces the previous SAS 70 standard, incorporating international control standards. The successful audit demonstrates that NWP has sufficient controls to support its customers.

"This successful report for audit and control objectives represents another important milestone for our customers," said Mike Radice, CEO of NWP Services Corporation. "NWP was the first company in 2011 in the multifamily industry to complete the rigorous SSAE 16 audit. This is another example of our continued commitment to industry leadership in every aspect of our business."

Property management firms require credible assurances that a hosting services and solutions provider has processes and controls in place to provide a stable and secure network, including safe customer data exchange capabilities. SSAE 16 helps provide the information these customer organizations need. To obtain similar assurance without access to a provider's SSAE 16 report, customers would have to send their own auditors to conduct individual review procedures. NWP's SSAE 16 Type II Audit Report helps customers avoid individual auditing expenditures and provides audit information that assists them in their risk assessment, in the understanding of how data is processed and calculated.

In its fifth year reviewing controls relevant to the customer organizations and reporting on financials (initially attained under SAS 70), NWP demonstrates its continued investment in reliable processes, systems and infrastructure to support customers' business environments.

"Completing our SSAE 16 audit affirms our commitment to integrity across our operational, infrastructure and financial best practices," said Jim Charles, senior vice president of NWP's Engineering, IT and Systems Assurance groups. "For customers, SSAE 16 compliance provides confidence that our products and services solutions value will be consistently delivered."

NWP customers can request a copy of the NWP audit certification by emailing [email protected].

About NWP Services Corporation
Headquartered in Costa Mesa, Calif., NWP Services Corporation (NWP) is a leading provider of utility management, resident and property operation services that enable multi-housing properties to drive down their costs and create new revenue opportunities. NWP services include utility expense recovery, energy management, invoice processing automation; online payments and spend management; resident billing and sub-metering services; and facility management and online supply procurement solutions. NWP offers regulatory consulting services and multifamily industry benchmarking analytics and extensive reporting technologies, as well as comprehensive services and solutions to optimize back office systems. NWP is the industry's premier provider of nationwide sub-metering installation and maintenance services. Additional information is available at www.nwpsc.com.

SOURCE NWP Services Corporation