DBA Seeks Third-Party Firms for Certification Program Compliance Auditing

DBA International (DBA) has issued a Request for Proposals (RFP) seeking qualified independent third-party auditing firms to provide compliance audits related to DBA’s Debt Buyer Certification Program.  If selected by DBA, firms will be designated as an “Approved Auditing Firm” and will be listed on DBA’s website and in collateral material for member companies to choose from when selecting an auditing firm for required program audits.

DBA’s Debt Buyer Certification Program requires that certified companies be subject to independent third-party audits to verify compliance with the 19 certification standards required by the program.  In addition to scheduled compliance audits, the program allows for limited third-party compliance audits if DBA has reason to believe that a certified company is in violation of program standards.

The goal of the Certification Program’s audit requirement is to ensure compliance with the program’s standards.  If a certified company is found to be nonconforming, they will be asked to enter into a Remediation Agreement with a plan to re-establish conformity.  If remediation is not possible, disciplinary action, including potential expulsion, may occur.

DBA’s Debt Buyer Certification Program consists of two types of certification designations: one for companies operating as “debt buyers” and one for individuals.  As of March 2013, DBA has been accepting applications from companies and individuals who wish to become certified.  The first certifications were issued in May 2013.

The deadline for submitting a response to the RFP will be the close of business on July 19, 2013.  A copy of the RFP can be obtained on the certification page of DBA’s website (www.dbainternational.org).

DBA International (DBA) is the nonprofit trade association that represents the interests of companies that acquire distressed asset portfolios on the secondary market.  DBA provides its members with networking, educational, and legislative advocacy opportunities through an annual conference, an executive summit, regional seminars, state and regional committees, newsletters, webinars, teleconferences, and other media.  DBA promotes uniform industry standards of best practices through the newly launched Debt Buyer Certification Program and through a code of conduct – adherences to both are required for DBA membership.  DBA is headquartered in Sacramento, California.