Ensuring financial and regulatory compliance
The CFO Act and the Executive Branch have forced Federal agencies to improve their financial management by obtaining clean audit opinions, modernizing financial systems, improving financial and performance data integrations, and implementing better internal controls.
How will you manage these financial and regulatory compliance steps if you have barely enough time and resources to meet your statutory duties? How do you manage your department’s operations, and still find time to perform detailed analysis of business data and processes? You can’t afford problems with inaccurate financial data reporting, but it can be prohibitive to expend additional work hours to correct systems that fail to perform properly.
Verdi Consulting helps you to analyze critical problem areas to improve accountability and performance and ensure compliance. We’re proud of our ability to expertly review and assess data and processes and create policies and procedures that reflect your department’s objectives and services, comply with regulatory requirements, and demonstrate sound internal control practices and compliance.
We generate immediate results that properly balance business processes and controls. We provide technical accuracy through proven techniques utilizing state-of-the-art technology and rigorous in-house quality assurance programs.
Most importantly, by providing qualified resources to critical problem areas, we can generate immediate, positive results.
Verdi’s financial and regulatory compliance services leave you the time you need to focus on your mission while we help you to mitigate nonperformance risk. Our accounting systems and services consultants can assist you in these areas:
Addressing operational demands can leave little time to attend to basic financial functions, which can prove costly . Financial organizations that don’t operate in a timely fashion or that are error-prone create inefficiencies in their funding or budgets and risk lost opportunities and audit findings. Verdi’s seasoned consultants can provide leadership that reduces or eliminates learning curves and addresses critical needs immediately. We can assist you with compliance and financial statement requirements, including trial balance and financial statement fluctuation analysis; identifying causes of variances and solutions; supporting Treasury closing packages; and providing FACTS I and II support, Financial Statement preparations, management, discussions and analysis preparations, systems security vulnerability, and internal controls assessments.
Improving general ledger management, reconciliations and analysis, Fund Balance with Treasury and financial reporting compilation can have a positive effect on an organization’s financial position by enhancing cash management and reducing operational costs. Our consultants’ extensive experience in financial and accounting services can enhance financial capabilities and respond to operational demands.
We can analyze and modify business processes to deliver improved information to program managers, support strategic business plans, make operational processes more efficient, and streamline procedures. We provide federal accounting and reporting services to conform to OMB, Treasury, FASAB and reporting requirements while improving efficiencies and reducing costs.
We can perform your general ledger account reconciliations and month-end processing, including subsidiary systems, fund balance with treasury (cash) reconciliation, accounts receivable, accounts payable, and travel functions as well as helping you meet audit and reporting requirements. We also capitalize on our IT expertise in financial applications and information systems by developing innovative solutions and system improvements.
We provide expert assistance in developing and complying with USSGL, including postcodes, federal budgetary accounting, proprietary versus budgetary reconciliations, and funds control reconciliations.
We provide expertise in complying with the Federal Credit Reform Act of 1990. We can develop SGL-compliant accounting posting models and/or entries for direct loan and loan guarantee transactions with memorandum accounts, calculate Treasury Borrowings and credit subsidy calculations, and reconcile loan systems to your general ledger. In addition, we can provide credit reform support in adjusting entries for Allowance for Subsidy Cost, subsidy re-estimates based on Liability for Loan Guarantee models and credit reform assets by cohorts and year-end financial statement entries and footnotes.