Control Unclaimed Property Risk & Exposure

Analyze potential liabilities and risks, and build policies for your unique needs with Sovos Unclaimed Property Consulting.

UNCLAIMED PROPERTY CONSULTING SERVICES

Reduce Risks Created by Audit through Enhanced Policy and Procedure Reviews and VDA Opportunities

Audits can be a nightmare. Sovos experts have decades of experience in all industries that can be put to work for you to identify and mitigate  potential unclaimed property risks. The Sovos unclaimed property consulting team provides companies with the support needed to draft and implement  effective, up-to-date policies and procedures, so you don’t have to worry about audits.  

Sovos improves operational efficiency by freeing up time to focus on business-critical responsibilities while giving you the guidance you need to identify compliance risks. Our unclaimed property experts work with you to support and simplify the audit process, manage VDA responses and develop effective policies and procedures.

Sovos Consulting Services

We are your ally in the audit process, providing customized expertise to analyze risk and establish effective policies and procedures.

Audit assistance and support

We review and interpret auditor requests, assist in drafting responses and document all procedures to ensure ongoing compliance. Sovos monitors the auditor’s use of documentation, liability assessments, calculation of dormancy and more to mitigate exposure, helping to negotiate final assessment and closure of the audit.

Compliance and process assessment

We specialize in analyzing current systems, accounting procedures and reporting practices to identify any potential gaps or omissions. Customized solutions and enhancements help you properly classify, report and document unclaimed property compliance procedures.

True domain experience

We offer uncommon expertise provided by former state unclaimed property personnel, professional leaders with domain experience, certified public accountants (CPAs), certified fraud examiners and former state auditors.

Voluntary Disclosure Agreements (VDAs)

Sovos identifies potential unclaimed property exposure, provides valuable guidance relating to those states that offer favorable incentives, reducing penalties/fees, preventing you from over-reporting, and assisting with implementation of advanced policies and procedures.

Comprehensive policies and procedures

The Sovos consulting team helps develop business-specific policies and procedures to keep your organization in compliance with unclaimed property regulations – with the least operational burden.