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While I suspect that many large multi-billion dollar revenue companies may be able to justify doing all their FAS 123 reporting in-house, most CFOs prefer to outsource these complex calculations to avoid the potential embarrassment of a SOX material control weakness being reported to the Audit Committee, especially following the stock options back dating scandals of a few years ago. However, if the routine day-to-day stock option administration is handled in-house (typically by a mid-level staff person in the Treasury or HR Department), do most of you still outsource the FAS 123 calculations/reporting to a benefits/actuary consulting firm?
Jerry Sweas (jerry.sweas@comcast.net)
Response:
We used a software called Transcentive Express Options (a Computershare company) for both the day-to-day administration (conducted by either HR or an accounting manager), as well as for the FAS123 compliance/footnoting (accounting manager and Controller). This was for a $200M publically traded company of about 650 employees.
Greg Walker (walkergj@cox.net)
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