The integrity of each client’s data from period to period and throughout the quarterly close process must be assured. Financial Intelligence provides SOX Reconciliation reports at key points in the equity compensation quarterly close process.
► When the accounting platform is updated from the administration platform, reports are provided to show that the accounting data is the same as the administration data.
► Diagnostics are performed to identify changes made to any grant or participant data after the end of the prior period (other than current period transactions).
• Each identified change is analyzed to ensure that its period impact is correct in all respects from expense (modifications, out-of-period terminations, etc.) through tax (applicable tax rates, cost sharing, etc.)
► System processing reconciliations are provided to show integrity of data from step to step
• Shares are reconciled between steps (expense, tax, disclosures, roll-forwards, dilution, forecasting, etc.)
• Tax settlement and DTA roll-forward reports are reconciled to expense and transactions
► There are easily identifiable audit trails throughout all of the equity compensation processes