iacc.certification

Association CLLA - CCAA PROGRAM IACC Certification ACCESS Receivables Number of Collection Agency Members 100 Agency Members 180 Agency Members Member of IACC Number of Certified Members 80 20 as of 2/1/2014 CerƟfied Meeting Attendance Requirement yes yes Our President regularly aƩends meeƟngs and parƟcipates on the cerƟficaƟon commiƩees. Minimum Bonding Requirement for Client Defalcation Required Required Compliant State Licensing in All States that require licensing for commercial agencies doing business in those jurisdictions Only Domiciled State Licensing Required Licensing Required in All States Doing Busi- ness Access is licensed naƟonally in all City and State jurisdicƟons requiring licensing. Commercial Business Percentage Requirement for membership 80% of all Business Must Be Commercial No requirement Approximately 50% of Access Busi- ness is commercial. Separate Trust Accounts - No Co-Mingling of Funds No Requirement Required Access maintains separate trust accounts and does not co-mingle funds. Certified Commercial Collector Required for Certification No Requirement Requirement Access President is a cerƟfied commercial collector. Disaster Recovery Procedures No Requirement Requirement Access has disaster recovery procedures that are tested at regu- lar intervals. Dedicated Commercial Collection Staff No Requirement Requirement Access has dedicated commercial collectors and a separate division for commercial business. Financial Statement Review Required for Certification No Requirement Requirement Access provides all reviewed financial statements whenever re- quested. These statements are prepared in accordance with GAAP. Bank Reconciliation, Check Audit Daily Deposit Reconciliation and copies of checks and proof of deposit required for certification. No Requirement Requirement Extensive Audit is Performed by independent appointed CPA Firm to verify compliance and remiƩance procedures. Written Remittance Procedures Required No Requirement Requirement Access Has wriƩen procedures governing every aspect of its business and complies with all require- ments. Verification of Check Deposit, Client Remittance and Bank Statement showing Cli- ent Check Clearing Trust Account No Requirement Requirement Access provides the associaƟon compliance commiƩee with any and all informaƟon required to conduct proper audits. The International Commercial Collectors Association (IACC) The IACC has been dedicated to the education and compliance of commercial agencies since 1970. The IACC is afϐiliated with ACA International, the collection industry association of record since 1958. The IACC has a stringent certiϐication program The IACC has more collection agency members and less certiϐied members than the CLLA The IACC requires recertiϐication every two years What Does It Mean To Be Certified By The IACC?

Upload: access-receivables-management

Post on 29-Jul-2015

79 views

Category:

Business

0 download

Report

Download

Embed Size (px):

TRANSCRIPT

Association CLLA - CCAA PROGRAM IACC Certification ACCESS Receivables

Number of Collection Agency Members 100 Agency Members 180 Agency Members Member of IACC

Number of Certified Members 80 20 as of 2/1/2014 Cer fied

Meeting Attendance Requirement yes yes Our President regularly a ends mee ngs and par cipates on the cer fica on commi ees.

Minimum Bonding Requirement for Client Defalcation Required Required Compliant State Licensing in All States that require licensing for commercial agencies doing business in those jurisdictions

Only Domiciled State Licensing Required

Licensing Required in All States Doing Busi-ness

Access is licensed na onally in all City and State jurisdic ons requiring licensing.

Commercial Business Percentage Requirement for membership 80% of all Business Must Be Commercial

No requirement Approximately 50% of Access Busi-ness is commercial.

Separate Trust Accounts - No Co-Mingling of Funds No Requirement Required Access maintains separate trust accounts and does not co-mingle funds.

Certified Commercial Collector Required for Certification No Requirement Requirement Access President is a cer fied commercial collector.

Disaster Recovery Procedures No Requirement Requirement Access has disaster recovery procedures that are tested at regu-lar intervals.

Dedicated Commercial Collection Staff No Requirement Requirement Access has dedicated commercial collectors and a separate division for commercial business.

Financial Statement Review Required for Certification No Requirement Requirement Access provides all reviewed financial statements whenever re-quested. These statements are prepared in accordance with GAAP.

Bank Reconciliation, Check Audit Daily Deposit Reconciliation and copies of checks and proof of deposit required for certification.

No Requirement Requirement Extensive Audit is Performed by independent appointed CPA Firm to verify compliance and remi ance procedures.

Written Remittance Procedures Required No Requirement Requirement Access Has wri en procedures governing every aspect of its busi-ness and complies with all require-ments.

Verification of Check Deposit, Client Remittance and Bank Statement showing Cli-ent Check Clearing Trust Account

No Requirement Requirement Access provides the associa on compliance commi ee with any and all informa on required to conduct proper audits.

The International Commercial

Collectors Association (IACC)

TheIACChasbeendedicatedtotheeducationandcomplianceofcommercial

agenciessince1970.

TheIACCisaf iliatedwithACAInternational,thecollectionindustry

associationofrecordsince1958.

TheIACChasastringentcerti icationprogram

TheIACChasmorecollectionagencymembersandlesscerti iedmembers

thantheCLLA

TheIACCrequiresrecerti icationeverytwoyears