Abandoned Property Advisors team of professionals has decades of experience addressing abandoned property “challenges.” Whether an internal or external audit, APA offers reliable solutions to reduce risk and potential liability associated with complex state and provincial abandoned property laws and regulations.
Compliance Review
Abandoned Property Advisors conducts a review of the client’s in-house structure and processes associated with current abandoned property reporting methodologies and;
- Identifies relevant property types and any operational or reporting deficiencies.
- Performs a comparative analysis of compliance procedures and amounts reported by companies of similar size and industry.
- Recommends steps to improve accuracy and efficiency
- Recommends options to reduce expense
Audit Defense and Client Advocacy
If clients become subject to in-state or multi-state audits conducted by a state, multiple states, or a contract auditing firm such as Kelmar or Verus. APA can provide professional audit support to defend, support, and negotiate acceptable outcomes.
APA will guide the client through the audit process, including;
- Record requests
- Interacting with state or contracted auditors
- Reviewing audit findings per property type
- Aggressive advocacy toward accurate remittance and audit settlement
Abandoned property represents a significant windfall to states creating an incentive to Increase enforcement. Audits can result in significant interest, penalties, and legal expenses often with additional investor and public relations consequences.
Talk to an APA expert today. We offer abandoned property services that make sense.
