Multistate Audits: Harder, but Not Better or Faster

Overview


Stephen Kranz called state delegation of multistate audits to third-party intermediaries “a lowest-common-denominator approach that seems to be getting worse instead of better as the states — through the MTC and through their bounty-hunter audit firms in the unclaimed property world — expand the number of audits and scope of work that they’re doing in the multistate audit arena.” Diann Smith added that it “cuts into efficiency” to have such auditors “spend time reviewing the unique details for each state.”