SOURCE: NWP Services Corporation

NWP Services Corporation

December 08, 2009 09:05 ET

NWP Services Corporation Completes Annual SAS 70 Type II Audit

Report Provides NWP and Its Customers Assurances of Compliance Processes and Controls

IRVINE, CA--(Marketwire - December 8, 2009) - NWP Services Corporation (NWP), the leading provider of financial transaction processing solutions for the multifamily housing industry, announced today that it has received its annual SAS 70 Type II report for the period ending October 31, 2009. The service audit was performed by GHP Horwath, P.C. under Statement of Auditing Standards No. 70 (SAS 70), and it assessed the effectiveness of controls and processes associated with NWP's leading-edge utility management, resident billing and electronic rent payment products and hosting services offered to multifamily housing owners and operators nationwide.

"We are pleased with the service auditor's report. In addition to validating the integrity of our internal practices, the fact that we have the report will continue to help all our clients meet their own financial reporting and internal control obligations under Sarbanes-Oxley," stated Jim Charles, senior vice president of product management and engineering for NWP. "NWP will continue to pursue annual SAS 70 examinations to ensure we are offering our customers needed information about our on-demand services that meet their security needs and allow the exchange of critical data with the utmost confidence," Charles added.

SAS (Statement on Auditing Standards) 70 was developed by the American Institute of Certified Public Accountants, and is the standard used to report on a service organization's internal controls and procedures, including those that may be of interest to user organizations.

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. SAS 70 helps provide the information these user organizations need. To obtain similar assurance without access to the provider's SAS 70 report, customers would have to send their own auditors to conduct individual review procedures. NWP's SAS 70 certification helps customers avoid individual auditing expenditures, and because the audit has already been performed, provides this information immediately.

About NWP Services Corporation:

Headquartered in Irvine, California, NWP Services Corporation (NWP) provides financial transaction processing services for the multifamily industry including resident billing, resident payment and utility management. Resident billing helps owners recover utility expenses with options including convergent billing with Resident OneBill. Resident ePay allows residents to pay monthly charges with funds transferred to the bank electronically. Through UtilityPay Manager, NWP processes and pays invoices sent to properties by utility companies. Additional information is available at www.nwpsc.com.

Contact Information

  • Contact for NWP Services Corporation:
    David Collins
    949-253-2589
    Email Contact