This document provides an overview of abandoned/unclaimed property (AUP) laws and audits. It notes that while every business holds some amount of AUP, few are fully compliant with reporting requirements. Audits can reach back 15+ years in most states. Contingent fee auditors are aggressively pursuing assessments, sometimes extrapolating small errors over long periods to arrive at large estimates. The document outlines common AUP types and risks, as well as strategies to mitigate exposure such as enhancing compliance, reducing exposure periods, and considering a voluntary disclosure agreement.