NRS | News Releases

DALLAS, TEXAS: May 12, 2006 - NRS, Carrollton, TX, a premier debt recovery services firm, announced today it has successfully completed a SAS 70 Type II audit.

Developed by the American Institute of Certified Public Accountants, the Statement on Auditing Standards (SAS) 70 audit is an in-depth review of internal control activities, including controls over information technology and related processes. The SAS 70 audit is a preferred method of proving compliance for service organization clients subject to Section 404 of the Sarbanes-Oxley Act of 2002.

Section 404 of Sarbanes-Oxley requires services organizations and service providers to demonstrate they have adequate controls and safeguards when hosting data belonging to their customers. A SAS 70 Type II audit is often required by public companies for compliance requirements or for companies wanting to assure a service organization's processes, procedures and controls are operating effectively.

Chris Mathews, CEO, said, “With increased emphasis on integrity and security in today's business environment and a concern for regulatory standards, we see our SAS 70 Type II audit completion as a confirmation of our dedication to best practices in the areas of security and confidentiality. This certification provides NRS with a bridging and ease of partnering with our clients for audit compliance. We've exceeded our customers' needs with the assurance that we've instituted the appropriate safeguards to help them meet their goals for success.

Mathews added, “Account receivables management service providers need to demonstrate they have more than adequate controls and safeguards in place when they host or process data belonging to their clients. Our completion of a SAS 70 Type II audit demonstrates a clear commitment to this objective. It is crucial in today’s business environment that our clients know their transactions are processed in a secure manner and reviewed with proper internal controls.”

“NRS’ compliance further demonstrates our commitment to providing secure, scaleable and reliable enterprise-level software, processes, and accounting platforms to validate the accuracy and integrity of outsourcing to third-party collections and operations for all of our clients."

NRS’ SAS 70 Type II audit was conducted by Chapman, Hext, & Co., P.C. The audit required six months of rigorous testing which indicates controls are in place and properly being followed. SAS 70 Type II audits require annual testing and are more comprehensive than SAS 70 Type I audits, which are limited to reporting on an organization's controls at any one moment in time.

NRS Acquires H.I.S. Financial Services
Texas Collection Agencies Join to Offer Debt Recovery Resources to Healthcare Organizations Nationwide

DALLAS, TEXAS: February 1, 2006 - Nationwide Recovery Systems (NRS), a premier debt recovery firm in Carrollton, TX, has acquired H.I.S. Financial Services, Tyler, TX, a full-service collection agency serving the healthcare services industry.

The acquisition allows NRS to expand its more than 25 years of experience and success in commercial and consumer collections services to the largest and fastest growing consumer debt recovery segment, healthcare services.

H.I.S. Financial Services President Thomas G. Morgan and COO Thomas C. (Chris) Morgan join NRS in leadership positions. H.I.S. Financial’s Tyler office becomes NRS’ healthcare division headquarters.

“This acquisition is a great fit for both our employees and clients,” says Tom Morgan, president, H.I.S. Financial Services. “Like our firm, NRS is known for its highly professional and ethical policies and procedures with a strong commitment to customer satisfaction. We believe our clients will value NRS’ deep resources and passion for improving cash flow fast.”

“Healthcare debt recovery is a challenging industry segment because of the complexity of medical billing and insurance payment processes. H.I.S. Financial Services has been successful because they have focused on personalized service and a partnership approach. Merge that philosophy with our own can-do attitude and you have a winning combination – a team of people dedicated to improving the financial position of the organizations we serve,” says Christopher J. Mathews, NRS Chief Executive Officer.

About NRS

NRS is one of the nation’s largest and most respected debt recovery firms serving thousands of commercial and high-volume consumer organizations. Located in Carrollton, TX, NRS has worked more than $2.5 billion in placements since its founding more than 25 years ago. For more information, visit www.nrs.us.