​​​​​Why should pr​ivate companies care about unclaimed property compliance?

Over the last few years, unclaimed property audits have been on the rise, as states turn to audits as a source of revenue. States have also incr​​eased their reliance on audit firms, most of which are paid a percentage of what they find – ​​creating an incentive for the auditors to take aggressive positions. Unclaimed property audits can be quite costly – draining your internal resources for multiple years, and resulting in inflated settlements, which can include interest and penalties.​

While historically the primary focus for unclaimed property audits has been on publicly traded companies, the focus is now expanding into private markets, where states believe compliance may be lacking. This session will cover:

  • Overview of unclaimed property and the rules of jurisdiction
  • Unclaimed property requirements – holder and state obligations
  • The cost of noncompliance
  • State enforcement efforts, inclu​ding audits and a Delaware update
  • Summary of best practices for private companies​

U​nclaimed p​​roperty compliance for private companies

Thursday October 12
1:00 - 2:00 p.m. Eastern

 

REGIS​​TER FO​​R WEBINAR​​ ​

Speakers

  • Pamela Wentz

    National Practice Leader, Unclaimed Property Consulting, Georgeson LLC

    Pamela Wentz

    201 744 5405 pwentz@georgeson.com As the National Practice Leader of the unclaimed property consulting and reporting practice, Pam is responsible for business development and the management and delivery of consulting and reporting services. Pam brings over two decades of diverse and extensive experience to clients of Georgeson’s unclaimed asset services. Pam has technical expertise and experience in a broad range of industries. Prior to joining Georgeson, she served as a director in an unclaimed property consulting practice where she was responsible for providing project oversight, monitoring quality reviews and assisting with staff development and training. In addition, Pam served in leadership roles as a subject matter specialist in various aspects of unclaimed property consulting and compliance; including audit assistance, state voluntary disclosure assistance, risk assessments, and policies and procedures. Pam also previously worked in the unclaimed property consulting practices at Thomson Reuters and Deloitte and served as the audit director for the North Dakota Unclaimed Property Division. Pam has been a featured speaker on the topic of unclaimed property at numerous conferences and has authored articles for trade association magazines and publications. While with the state, she was an active member of the National Association of Unclaimed Property Administrators (NAUPA) and received the NAUPA Presidential Distinguished Service Award for her work on the NAUPA Auditor Agenda Committee. She is also a member and frequent speaker for the Unclaimed Property Professionals Organization (UPPO) and currently serves as co-chair of the UPPO Leadership Development Committee. Pam is a certified fraud examiner (CFE) and member of the Association of Certified Fraud Examiners. She graduated from Mount Marty College with a B.A. in Accounting and received an MBA from the University of Mary.