Every business has a legal obligation to report and remit unclaimed property to the appropriate authority (typically to the state unclaimed property division). Failure to report can create significant financial exposure and increased audit risk. This session will explain what unclaimed property is, why a business should be concerned about it, and how the annual compliance process works. Then it will delve into record retention, audit defense, and the overall impact on the general ledger.
As Director, Product Management, Bud is responsible for developing, defining, communicating, and leading product strategies for DMA’s internally developed enterprise software solutions. He identifies potential new products and product enhancements; defines product/enhancement requirements; creates go-to-market strategies; establishes product pricing; coordinates the management of DMA’s full portfolio of software products; and collaborates with DMA technical and functional product owners, developers and consultants to develop and deliver product strategies.
Bud has more than 22 years of product management, business development, and software development experience. His experience includes leading development, product, business development, and quality assurance initiatives and introducing product delivery methodologies. Bud’s expertise also includes defining product roadmaps and creating company dashboards. Prior to joining DMA, Bud was the Vice President, Product Management and Product Development for Oracle-Textura where he successfully led the product management and strategy of a lucrative line of the business. Bud was also Managing Director/Head of Product Management and Business Development for Eze Software Group where he was responsible for product management, development, quality assurance, and business development. Eze Software delivers leading investment management solutions to hedge funds and asset managers. Earlier in his career, Bud was a Senior Manager at Accenture and a Partner at TechNet Consulting.
Bud holds a Bachelor of Arts degree in Economics from the University of Illinois and a Masters of Science degree in Management Information Systems from the University of Virginia.
As a Senior Tax Manager for Unclaimed Property, Gwen oversees the unclaimed property compliance services team. She and her team manage compliance flows, assist Clients in scoping their unclaimed property footprint, identify potential unclaimed property liability, complete owner notification efforts (informal/formal due diligence), manage owner responses to settlement, prepare unclaimed property reports for both initial and annual filings, and address state inquiries from those reports. She has a vast knowledge of the mechanics of unclaimed property recognition, due diligence, and reporting processes and procedures.
Gwen has over 20 years accounting and indirect tax experience, including unclaimed property, sales/use tax, personal property tax, business licenses, and annual report compliance. Prior to joining DMA, Gwen served as a Tax Manager for a global leader in eyewear. In this role, Gwen was responsible for the audit defense of indirect tax audits for multiple legal entities. She also led the accounting functions of forecasting, accruing, and reconciling various tax liabilities while abiding with GAAP, IFRS, and SOX requirements. In addition, Gwen served as the primary liaison for various contracted services. She was tasked with creating the organization’s unclaimed property compliance process, procedures, communications, and structure for multiple affiliated holders and thousands of properties annually.
Gwen holds Bachelor of Arts Degrees in Accounting as well as Business Management from Wilmington College. She is a Notary Public for the State of Ohio. Gwen continues to expand her knowledge by attending seminars pertaining to Unclaimed Property and maintains membership in the Unclaimed Property Professionals Organization (UPPO).
CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222