RALEIGH, N.C. (June 16, 2009) – Properly reflecting stock options and other equity compensation in financial statements can be a daunting mission. FASB Statement FAS 123 (R) sets complex standards for accounting and requires extensive disclosures involving intricate calculations. Hiring in-house expertise when companies only require annual or quarterly reporting is often cost prohibitive. To better serve its clients, Hughes Pittman & Gupton, LLP (www.hpg.com), the largest CPA firm headquartered and staffed in the Research Triangle Park region of North Carolina, is adding an applications service to its portfolio of accounting and auditing resources to assist clients with the proper valuation and reporting of options and other equity compensation.
“By partnering with OptionEase, we are able to provide a share-based compensation solution that is supremely cost effective to our clients,” says Deborah Quay, director of audit services at HPG. “Reporting requirements are stringent and determining the appropriate assumptions used to value options and the proper expense recognition requires very specialized knowledge.”
The partnership with applications provider OptionEase allows HPG to take advantage of software designed as a comprehensive equity administration, valuation and compliance solution. OptionEase software offers a full audit trail and can generate reports that fulfill a company’s reporting requirements to individual grantees.
HPG is the largest CPA firm headquartered and staffed in the Research Triangle Park region of North Carolina, as ranked by the Triangle Business Journal. Furthermore, Business Leader magazine ranked HPG as the fifth most successful small business in North Carolina in 2008. HPG is able to provide national and global accounting resources to its clients through the CPAmerica firm network of 701 offices worldwide. HPG offers a wide array of business accounting, auditing, corporate tax, and management advisory services. Specialties include serving owner-managed, investor-backed technology and life science, healthcare services, real estate development, manufacturing and distribution businesses, and providing ERISA audits, family wealthcare services and Sarbanes-Oxley internal audit services. More than just an accounting firm, HPG assists clients in looking beyond the bottom line by being the right people, right value and right firm to achieve each client’s definition of success. Visit www.hpg.com.
Founded in 2006, OptionEase is the only SAS 70 TYPE II certified application in the equity compliance space that was designed specifically for audit and SEC compliance. More than 350 private VC funded and large multi-national public corporations rely on the company’s FAS 123(R) compliance software. OptionEase has now expanded into other areas such as cap table management and solving complex regulatory issues around FAS 157 and International Financial Reporting Standards (IFRS).