CHICAGO -

Renovo Services recently announced that it has successfully completed a SSAE 16 (Service Organization Control) 1 Type II audit, which examines the effectiveness of internal controls supporting Renovo Services' asset recovery and remarketing business.

Company officials declared SSAE 16 is the new auditing standard developed a year ago by the American Institute of Certified Public Accountants (AICPA) to replace SAS 70.

Renovo’s audit was conducted by McGladrey LLP, one of the largest U.S. providers of assurance, tax and consulting services.

McGladrey’s report includes a detailed description of Renovo’s controls and an independent assessment of whether the controls are placed in operation and appropriately designed.

Officials noted SSAE 16 developed by AICPA is the most widely recognized authoritative guidance that provides service organizations a uniform method for disclosing independently assessed information about the design and operation of internal controls related to their services.

“Our annual completion of this audit and our continued openness to this level of scrutiny demonstrates our commitment to lead by example in our industry,” said Renovo chief executive officer Kevin Flynn, who will be one of the feature speakers at this year’s Re3 Conference that takes place in the middle of Used Car Week.

Renovo chief operating officer Wes Goebel stated, “This audit helps provide assurance to our valued clients that we have the proper controls in place across our computer operations, security access and system development and change management for all of our business lines.”

And chief financial officer John McMahon went on to say, “It’s quite a rigorous undertaking that will quickly expose any weakness in process. We are unique in our industry in completing this audit and providing this added level of confidence for our clients.”

To receive a copy of the report or ask further questions, contact Anne Lowell, vice president of customers at (317) 220-4295 or alowell@renovoservices.com.

Flynn will be together with other forwarding company executives and recovery industry leaders at the Re3 Conference, which delves into the recovery, repossession and remarketing fields and is scheduled for Nov. 14.

The Renovo boss will be joined by nearly a half dozen other professional for a session titled, “The Evolution, Revolution & Diversification of the Forwarding Model.” Other individuals scheduled to participate are:

—Jerry Kroshus, president, PAR North America
—Jose Mendiola, president, American Lending Solutions
—Claudia Plascencia, vice president, Repo Remarketing
—Chuck Tapp, CEO, Primeritus Financial Services
—Mary Jane Hogan, president, ARMS 

The agenda Re3 Conference presented by PAR North America and Digital Recognition Network can be found at re3.autoremarketing.com.

Re3 takes place in the middle of Used Car Week.

Starting with the CPO Dealer Forum presented by AutoTrader.com, Used Car Week gets underway with an event designed specifically for dealers.

This intensely educational two-day gathering — held Nov. 12–13 — will shine the spotlight on the certified pre-owned industry. The nation’s top dealers will share their on-the-lot experiences with selling, pricing, sourcing and marketing their CPO vehicles.

Attendees will have opportunities to ask questions, share best practices and start conversations with dealers from across the country, leaving the event with fresh new actionable ideas for maximizing profits in their certified pre-owned sales.

Used Car Week will wrap with the National Remarketing Conference presented by SmartAuction from Nov. 14–16.
NRC — Used Car Week’s flagship event — is now in its 13th year, and it remains at the leading edge of the remarketing industry.

The NRC session is all part of the Used Car Week conferences, which are being held at The Phoenician Resort in Scottsdale, Ariz., from Nov. 12 through 16.

For three days, NRC attendees will be immersed in the big ideas, market insights and in-depth conversations that will shape the future of remarketing.

Whether they happen on the golf course or in the general session room, during a networking event or a small-group discussion, the dialogues sparked during the National Remarketing Conference will lead to solid results for your business.

Plus, an evening networking reception shared between Re3 and National Remarketing Conference attendees will offer an exceptional opportunity to continue discussions and connect with the broader industry.

Attendees can obtain an early bird discount to all of these events through Oct. 15.

More details about registration and sponsorship opportunities can be found at www.usedcarweek.biz.