Organization's that are identified as servicers for purposes of Regulation AB compliance must submit documentation to each respective Form 10-K for ensuring Item 1122 compliance. Additionally, a registered (PCAOB) CPA firm also must conduct an attest engagement and issue a report. Thus, Regulation AB Item 1122 consists of two key deliverables, one a collection of statements and a brief assessment, the other, an actual attestation report. Together, these two deliverables are called the Form 10-K Report(s) on Assessments of Compliance with Servicing Criteria and Accountant's Attestation.
NDB provides assistance for ensuring that servicers meet the Assessments of Compliance with Servicing Criteria requirements along with providing services related to issuing of the Registered Public Accounting Firm Attestation Reports (i.e., Accountant's Attestation).
Please Note: Issuing of Registered Public Accounting Firm Attestation Reports will consist of conducting an agreed upon procedure (AUP) engagement for the servicer. This engagement will consist of evaluating a servicers assertion against the servicing criteria set forth for Regulation AB. This AUP engagement will require significant time and resources from your organization and ours.