According to a press release, the two companies are offering professional services along with Web-based tools to companies that need to maintain their equity compensation plans and to help them comply with the Financial Accounting Standard Board’s FAS 123 (See FASB Hands Down Option Expensing Proposal) and Internal Revenue Code 409A (See IRS Extends Deadline for 409A Document Compliance ).
OptionEase, a Orange County, California-based company, offers its Web 2.0 application for FAS123 compliance and reporting, while Westlake Securities, of Austin, Texas, provides valuation services to support new 409A requirements.
“We believe Westlake Securities to be a very good fit considering our common market focus and related services,” said Kimberly Kovacs, CEO of OptionEase, in the press release. “We recognize the importance of having our customers select a qualified valuation firm for their 409A compliance, which becomes a critical input to the ultimate FAS 123 financial reporting requirements.”
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