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Save the date for the 28th annual event Sept. 22-25, 2020 in Washington DC! Registration opening soon.
Our popular “Meet the Speaker” series, featuring interviews with speakers at the 27th Annual NASPP Conference, is a great way to get to know our many distinguished speakers and find out more about their sessions in advance of the Conference.
For today’s “Meet the Speaker” interview, we feature an interview with Laura Verri of Armanino, who will lead the session “Top 5 ‘Gotchas’ for Stock-Based Expense Errors.” Here is what Laura had to say:
NASPP: What is one reason expense reporting errors occur?
Laura: As services providers, we frequently come across common equity reporting errors that could easily be prevented or avoided. Often, these oversights are as a result of different groups failing to coordinate and communicate around important deadlines—leading to a lack of clarity and direction. Having a proper planning session and process checklist for the month and quarter-end activities can prevent unpredictability and last minute catch up.
NASPP: How can companies improve their expense reporting processes?
Laura: Utilizing a system to manage controls, process documentation, and workflow is a best practice that many companies are not using. Organizations should implement a thorough analysis of their plan administration and accounting processes in a collaborative process between your HR, legal, stock administration, and finance & accounting professionals. Having these teams work together will align expectations to create a close process that can streamline equity administration reconciliations and avoid equity accounting errors.
NASPP: What is the silver lining to expense reporting processes?
Laura: I think a silver lining is that with a bit of effort, planning, and organization, you can mitigate any last minute rushes and avoid being caught off guard. Nevertheless, make sure you get your priorities in order. You should address any activity that is high with risk and materiality immediately. To do this, audit your data regularly, validate your calculations and keep detailed records of every event.
NASPP: If you had an Etsy store, what would you sell in it?
Laura: I wish I could sell homemade pasta and ravioli on Etsy—I love to make homemade pasta. However, since I think it would be challenging to sell food products on Etsy, I would like to do something involving stitching and crochet projects, a skill I learned from my grandmother. Over the years, I’ve been asked to make an endless supply of hats and scarves, which I am always happy to do, so long as the there are no hard deadlines (unlike in equity accounting); I hope people don’t mind getting their winter hats in the middle of summer!
Don’t miss Laura’s session, “Top 5 "Gotchas" for Stock-Based Expense Errors,” at the NASPP Conference!
The 27th Annual NASPP Conference will be held from September 16-19 in New Orleans. This year’s program features close to 100 sessions on today’s most timely topics in stock and executive compensation; check out the full agenda and register today!