Today’s shrinking Federal budgets and ever changing requirements from OMB and Treasury have led to an increasing importance for agencies to maintain a flexible support staff that can tackle emerging issues. Our leadership team that consists of former Federal Chief Financial Officers (CFO), Federal Accounting Standards Advisory Board (FASAB) members, Certified Public Accountants (CPAs), and Certified Government Financial Managers (CGFMs) is well prepared to tackle the development, interpretation, implementation, and operations of emerging accounting issues. In addition, our staff is well versed in remediating issues identified during audits. These remedies allow agencies to maintain audit opinions, ensure federal compliance, recover money, and eliminate waste.
Our staff brings the necessary knowledge of Accounts Receivable (AR) and Accounts Payable (AP) lifecycles to help ensure that agencies have the necessary knowledge and support to meet the demanding requirements established by OMB and Treasury. We have hands on experience from both the technical and functional side of treasury systems such as the Intra-Governmental Payment and Collection (IPAC), pay.gov, Collections Information Repository (CIR), etc. Utilizing our knowledge of General Accepted Account Principles (GAAP), USSGL, and other relevant Federal standards will help to ensure that full cost recovery of accounts receivables and proper disbursement of payments is achieved.
AOC’s team of financial experts has a proven track record for designing, implementing, managing, and executing reviews of AR and AP lifecycles. The end to end reviews we create help to ensure compliance with Federal laws, identification of improper payments, recovery of money, and the elimination of waste. Our remediation efforts include a review and documentation of the existing “as-is” process, remediation of existing balances, documentation of key gaps in the current process, and a comprehensive set of recommendations that will allow Federal agencies to remediate the existing gaps and help ensure compliance moving forward.
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