The Florida Department of Financial Services recently announced its participation in the Faegre Drinker, Biddle & Reath LLP (FDBR) Contractor Assisted Self-Audit Program (CASA) that seeks to increase the utilization of the work efforts organizations invest in the Delaware Voluntary Disclosure Agreement (DE VDA) process. The underlying goal is to use the discoveries made through the testing of accounts associated with the DE VDA to come into compliance with other states. Organizations electing to participate in the FL CASA receive a waiver on interest and penalties. The scope of the FL CASA is consistent with the DE VDA review period, which covers 10 years plus dormancy and due diligence. It’s important to note that this opportunity is not limited to DE VDA projects administered by FDBR and can be extended to projects administered by TL2Q. To be considered eligible for participation, organizations cannot already be under audit.
Source: SOVOS
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