Portfolio Recovery Associates, a company involved in the consumer debt purchase and collection industry, has formed a new subsidiary, PRA Professional Services.

The newly formed entity will provide auditing and revenue discovery in the private sector.

PRA Professional Services has secured their first project, under which it will help commercial real estate companies that wish to monitor and verify lease payment agreements with variable payment provisions based on auditable data.

PRA Auditing Services vice president Andrea Hunter said the PRA Professional Services company is distinct and separate, with its focus on serving the commercial market’s need for focused revenue recovery audit services.

"We look forward to leveraging the knowledge and experience we’ve amassed in the public sector in order to offer sensible and profitable solutions to private companies," Hunter said.

PRA Professional Services builds up on PRA 30 years of experience in auditing and collection in the public sector, and staffed with experienced people in asset management.