Are You Ready for an Unclaimed Property Audit?

States’ aggressive pursuit of unclaimed property fines and penalties is expected to accelerate in 2021, as states look for ways to bolster the revenues decimated by COVID-19.  This heightened risk comes at a time when companies face the additional challenges of adapting to new technologies, layoffs, and remote working environments. And because AP is responsible for record retention, you should be preparing now for the day your audit letter arrives.

Learn what you need to do to mitigate your risks by attending this free session by Unclaimed Property expert Jim Sadik (managing director of True Partners Consulting) and IOFM’s executive editor Jess Scheer.

Don’t miss this webinar if you’re not 100% sure on the rules surrounding:

• The treatment stale-dated and voided checks;
• AP specific reporting concerns;
• Options for getting into compliance;
• Sampling opportunities;
• And, the unique challenges AP faces under an audit.

Jess Scheer
Editor, IOFM

IOFM Editor Jess Scheer is an award-winning business reporter, focused on the intersection of accounting, finance and management. Before joining IOFM, Jess spent five years as a Process Consultant, helping organizations more effectively and efficiently manage end-to-end processes, including Procure-to-Pay and Order-to-Cash.

Jess is a popular speaker, keynoting IOFM’s annual conferences. His sessions draw on his experience helping organizations create effective measurement approaches, conducting custom survey projects, as well as personally managing several large-scale benchmarking programs.

James A. Sadik
Managing Director, Unclaimed Property Management Solutions, True Partners Consulting

James A. Sadik is a Managing Director for the Unclaimed Property Management Solutions Team of True Partners Consulting.  Jim has extensive experience in all aspects of unclaimed property including the conducting of large scale general ledger multi-state audits, voluntary unclaimed securities compliance and reporting, and audit defense.  Jim currently specializes in the defense of publicly traded companies who are subject to multistate unclaimed securities audits, audit defense of registered broker/dealers and banks, along with representing holders in a variety of industries including life and property/casualty insurance, retail, manufacturing, and energy exploration.