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Caine & Weiner Earns SSAE 18 Status
The American Institute of Certified Public Accountants (AICPA) made an important update to the Statement on Standards for Attestation Engagements (SSAE) that simplifies and converges standards to unify them with international standards. The previous SSAE 16 SOC 1 Type 2 Audited status will now simply be known as SOC 1 Type 2 Audited and can be recognized by the blue AICPA/SOC logo.

The new SOC 1 Audits are strongly focused on risk assessment, especially with the recent increase in data breaches. The SOC 1 Audit standard now requires that Management acknowledges and accepts its responsibility for identifying risks, then designing, implementing and documenting controls to mitigate those risks. The SOC 1 Auditor attests to whether the appropriate controls are in place.

The 2018 Audits are also focused on monitoring subservice organizations. Service organizations are not only required to identify the critical organizations they rely on to provide their services, but also monitor that they, too, are complying with all relevant standards.

Caine & Weiner, in fulfilling the requirements to achieve the SSAE 18 status, continues to prove why we have been a leader in the accounts receivable management industry since 1930.  Our clients rely on our best-in-class Receivables-to-Cash solutions to maximize their recoveries.
  C&W Plugged In to the Conference Circuit
 We look forward to seeing you at these upcoming events.
Caine & Weiner joins NACM Midwest Illinois Members on Chicago Cruise

Caine & Weiner's Warren Northern and Brad Robinson enjoyed the NACM Connect Midwest Illinois Boat Cruise July 21 in Chicago. Above, Warren visits with Martine Dyer with ACCO, left, and Erica White with Ferguson, right. At right, Mark Filipini with Akzo Nobel, top, and Brad, bottom, get winning shots in front of the Chicago skyline. 
How Was Your Customer Experience?
Caine & Weiner's Client Relations Team is your day-to-day point of contact on your accounts, and continually strives to meet and exceed your customer service expectations. We have created a very brief survey that will help us in our goal of maintaining our excellence in customer service. CLICK HERE to answer a few questions about your recent customer experience.
Caine & Weiner clients who complete our survey by
August 31 will be entered into a drawing for a YETI Tumbler!
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COLLECTIONS CASE STUDY:
Can "#2 Guarantor" Wrangle Out
of Making Good on Guaranty? 

Published in August 14 edition of Credit Today's Weekly eNews
"We're coming to you to make good on the guaranty you signed with Arnie Johnson," said Frank Zeller of Cladandma Manufacturing.
"Yes, I had heard that Johnson wasn't paying his note as promised," replied Tony Young. "How much money did Johnson come through with before you turned to me?"

"Oh, we haven't contacted Johnson about the guaranty," Zeller corrected. "We decided to come straight to you for the full amount."
"Well, that's not right," Young protested. "I only signed the guaranty to guarantee collection. That means you have to try to collect from Johnson first."
"No, we believe you signed that guaranty to guarantee payment," Zeller countered. "Therefore, we can come to you without turning to Johnson for payment."
"That's not how I understood the arrangement," Young insisted.
"Well, the guaranty clearly says 'We, the undersigned, do hereby personally guarantee the due payment of the within indebtedness.' That doesn't say anything about you only guaranteeing the collection of the debt."
"Well, I don't think that language is very clear. I think it could be interpreted either way," Young claimed. "You see what you can collect from Johnson first, and get back to me."
"It's not going to work that way," Zeller insisted. "We've come to you first, and you will pay."
Did Young guarantee payment on this debt?
Make your decision: then click here for the court's decision.

Credit Today is the premier online community and resource for trade credit executives.
Go to www.CreditToday.net  to learn more and to sign up for their weekly eNews.
BICA Launches New Credit Report Service
The Building Industry Credit Association (BICA) has launched a new construction credit report service aimed at delivering construction specific data. The new offering gives an overview of mechanics and tax liens and notices of completion that directly relates to a client's credit activity. 

This new service also allows for public record searches for bankruptcies, active trade lines, credit analysis and scoring, with collection agency and factoring company activity.

Read more about this service and download a free sample credit report at www.bicanet.com .
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Caine & Weiner is
proud to be your
partner in the
  Receivables-to-Cash Cycle!
Caine & Weiner is a solution-based accounts receivable management company that provides credit and collection services to America’s leading companies. Our clients are comprised of a broad cross-section of American industry; in fact, 20% of the Fortune 500 companies use our services.

Eight decades after our founding, client satisfaction and personal service are still basic to our core strength. To these we’ve added stability, client diversity, technological innovation, and a management team widely recognized for its tenure and leadership.
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