NWP Services Corporation Successfully Completes Annual CSAE 3416 Audit
Report affirms high financial standards and addresses Canadian Investors and Owners in Multifamily
COSTA MESA, Calif.--(BUSINESS WIRE)--NWP Services Corporation (NWP), a leading provider of utility management, resident and property operation services, today announced successful completion of the Canadian 3416 Report (Canadian Standard on Assurance Engagements 3416). NWP was the first company in the multifamily industry to issue an International 3402 report and continues this leadership for the multifamily industry by being the first to adopt the Canadian 3416 Standards.
The CSAE 3416 (Canadian Standard on Assurance Engagements 3416) audit was completed for the period of November 1, 2012 through October 31, 2013 and the audit applies to NWP service offerings. This audit examined NWP’s adherence to industry best practices including financial controls, processes and procedures. With the combination of Canada's unique regulatory environment and these annual audits, NWP is able to demonstrate a substantially higher level of assurance and operational visibility than those companies who do not. The Service Auditors' Report, with an unqualified opinion, demonstrates that NWP’s control activities are effectively designed and in operation throughout the reporting period.
"We are very pleased with the results. By successfully completing a SSAE 16 Type II SOC 1 and CSAE 3416 audits, as well as our ISAE 3402 International audit and PCI Certification, our goal has been to demonstrate a continued commitment to proper controls and security. All of our customers, including investors, publicly traded companies and those in the real estate industry, will benefit from NWP’s rigorous focus on processes and procedures and are able to use our audit reports for their required corporate governance," stated Jim Charles, senior vice president for NWP Services Corporation.
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, ISAE 3402 and CSAE 3416 help provide the information these customer organizations need. To obtain similar assurance without access to a provider’s CSAE 3416 report, customers would have to send their own auditors to conduct individual review procedures. NWP's CSAE 3416 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. NWP customers can request a copy of the NWP audit certification by emailing firstname.lastname@example.org.
About NWP Services Corporation:
Headquartered in Costa Mesa, California, NWP Services Corporation (NWP) is the leading innovator and solutions provider for lowering operating and utility costs for the multifamily industry through utility cost recovery, utility cost management and energy management solutions. Utility Logic helps owners maximize utility cost recovery with options that include convergent billing, utility billing only, and read, bill, and remit billing services, payments and submetering. Utility Smart helps owners and operators optimize utility spend through automation, benchmarking analytics and extensive reporting technologies. Utility Genius provides advanced options designed to directly assist with conservation initiatives and reducing utility spend. NWP’s customer centric solutions focus on increasing Funds from Operations (FFO), Net Operating Income (NOI), resident satisfaction, and the asset value of multifamily properties. Additional information is available at www.nwpsc.com.