DALLAS, Feb. 6, 2013 /PRNewswire/ -- Ryan, a leading global tax services firm with the largest indirect tax practice in North America, today announced the formation of a Securities Audit Defense team to help U.S. companies manage unclaimed property audits specifically targeting securities issuers.
Securities audits are a costly new trend affecting publicly traded companies. States' agents are increasingly calling on corporate issuers to disclose and escheat property related to their securities offerings. In addition, brokerage firms and mutual fund companies have come under increased scrutiny from states with regard to their reporting of securities, mutual fund shares, and other financial instruments held in investment accounts for their clients.
The Ryan Securities Audit Defense team provides a wide range of services for companies preparing for or under an audit—including unclaimed property diagnostic reviews, audit support consulting, and shareholder retention services. The team will work with clients to identify potential exposure, mitigate risk through proactive shareholder outreach programs, and help clients enter into compliance through formal or informal Voluntary Disclosure Programs. If a client is already under audit, Ryan will work with them to efficiently manage the audit and negotiate a fair liability assessment.
This team of experts includes a former director of audits for the largest contract auditor in the United States, a Certified Public Accountant with more than 20 years of unclaimed property experience, a former director of abandoned property compliance for one of the country's largest financial services firms, and a former lead client manager at the largest reporter of unclaimed property in the United States.
"The Ryan Abandoned and Unclaimed Property team has more experience with securities audits in the AUP area than any other firm in the industry," said Mark A. Paolillo, Ryan Principal and Abandoned and Unclaimed Property Practice Leader. "We understand and can address the challenges of holders in every industry impacted by this new audit trend—including retail, oil and gas, manufacturing, and financial services."
For more information about Ryan's Abandoned and Unclaimed Property services, visit http://www.ryan.com/Abandoned-and-Unclaimed-Property.aspx.
Ryan is an award-winning global tax services firm, with the largest indirect tax practice in North America and the sixth largest corporate tax practice in the United States. Headquartered in Dallas, Texas, the Firm provides a comprehensive range of state, local, federal, and international tax advisory and consulting services on a multi-jurisdictional basis, including audit defense, tax recovery, credits and incentives, tax process improvement and automation, tax appeals, tax compliance, and strategic planning. Ryan is a two-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan's multi-disciplinary team of more than 1,600 professionals and associates serves over 6,500 clients in 40 countries, including many of the world's most prominent Global 5000 companies. More information about Ryan can be found at www.ryan.com.
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