Audit-Readiness, Financial Compliance, and Governance
Stewardship of public resources implies transparency and accountability. Financial governance is the coordinating mechanism that synthesizes statutes, regulations, and directives with financial management components and systems. Even with the best of intentions, agencies often encounter practical difficulties in establishing their capabilities with respect to audit-readiness, financial compliance, and good governance of public resources. These capabilities require expertise in a range of professional disciplines, including accounting principles, auditing standards, and a complex web of laws and regulations. The effects of sequestration and the possibility of further budgetary constraints have created a new sense of urgency among agencies to demonstrate financial compliance and good governance.
- ACE Consulting Services provides federal agencies with a comprehensive framework for policies, procedures, and areas for risk management. We propose solutions specific to your operating environment that are simple, effective, and endure. We design internal controls that give management confidence in its financial information. We make it easy for clients to identify the salient issues with respect to statutes, regulations, and standard operating procedures in light of management priorities and performance objectives.
Accounting Forensics for Transactional Data Analysis and Vendor Fraud
ACE Consulting offers solutions that are simple, effective, and enduring. We analyze all data rather than mere samples to best understand cause-and-effect relationships and to identify root-causes. In large, complex agencies, data is often overwhelming, cumbersome, or simply uncollected. In such cases, it can be very difficult to access the right data at the right time; to distinguish between an anomaly and a threat; to discern patterns; and to identify risks in real-time to mitigate damage and to prevent further waste, fraud, and abuse. We evaluate data, uncover inappropriate activities, develop business intelligence, and implement corrective measures.
Federal Purchase Card Programs: Financial Controls and Data Analytics
ACE Consulting offers experience gained from instituting data mining for the DoD purchase card program. This included gathering data and on-going joint audits to identify and validate potentially fraudulent or improper purchase transactions, convoking DoD internal audit and criminal investigation communities to working together on identifying a set of indicators to identify potential misuse of purchase cards.
Data Integrity and Information Quality Controls
Financial databases represent the blueprint foundation for healthy and integrated financial management systems. In large, complex agencies, data is often overwhelming, cumbersome, or simply uncollected. Unreliable, uncertain, or uncollected data magnifies the risks inherent in management decisions to fund, acquire, allocate, and modify your resources. In urgent or crisis situations, management assessments require validated, accurate inputs for quick, decisive actions. Integral to this effort are Forensic Accounting and Real-Time Monitoring.
Accounting and Financial Management Support
Accounting support requires the ability to document and validate financial data at its sources, develop and maintain the financial database detail, maintain and manage general ledger and subsidiary ledger data and reports, support and monitor travel management functions and support and perform daily accounting support functions related to commitment, obligations, expenses, and liquidations.Proper accounting processes and controls ensure data integrity, the reliability of financial statements, adherence to laws and regulations, and instill confidence in external auditors and The Congress. ACE Consulting has extensive experience in providing accounting and financial management support services to Federal agencies to help meet their management goals.
- 541219 – Other Accounting Services
- 541511 – Custom Computer Programming Services
- 541512 – Computer Systems Design Services
- 541519 – Other Computer Related Services
- 541611 – Administrative Management and General Management Consulting Services
- 541618 – Other Management Consulting Services
- 561499 – All Other Business Support Services