MGT Completes Audit for California State Controller's Office
MGT provided independent audit services to California's State Controller's Office (SCO) to ensure contract compliance of its unclaimed property contract auditors. The two auditors are ACS Unclaimed Property Clearinghouse (UPCH) and the Audit Services U.S. LLC Inc. (ASUS).
This comprehensive compliance audit reviewed the terms and conditions of the SCO's contracts with ACS and AS for compliance with the following: Identification and Collection of Unclaimed Property;Authorization for Records Processing; Monthly Status Report of Records Processing; Due Diligence; Unclaimed Property Report; Custody of Unclaimed Property; Payment of Claims; Remittance of Unclaimed Property; Delivery of Unclaimed Property Information to the State; and other Special terms.
MGT's independent audit determined there is no evidence that either of the two companies, under contract with the State of California, has illegally or inappropriately collected or delivered property that was not subject to transfer under state law.
Click to view the results of the ASUS audit and the UPCH audit.
