Financial Management & Audit Readiness Services

Financial Management Expertise

KTech offers more than 30 years of technology know-how and in-depth financial management experience to help federal agencies tackle tough challenges. We apply the latest standards for financial management excellence to assure your success.

KTech has more than 30 years of federal program management experience to apply to every project. Whether we are leading initiatives or serving as team member, we bring financial management expertise to every effort.

Financial Management Services for Federal Contracts

Advisory & Assistance

KTech supports and improves organizational policy development and much more. We analyze business related processes and support management and administration activities.

Support and improve organizational policy development
Conduct studies and analysis of business related processes
Support management and administration procedures, including program and/or project management and administration
Research and develop activities, including professional advice and assistance about management
Generate information; advise; provide alternatives, analysis, and evaluations; and recommend best practices to Government personnel.

Finance and Accounting

Work with KTech for full service Finance and Accounting needs.

Policy and Procedure Development

Review current finance and accounting policy and procedural documentation
Compare existing documentation to Federal standards, OMB guidance, and agency regulations such as the Financial Management Regulation (FMR)
Identify gaps and areas of improvement to senior management
Coordinate communications between all impacted organizations
Author draft versions of policy and procedural documentation for governmental review, sign-off, and implementation

Planning, Programming, Budgeting, and Execution (PPBE)

Provide technical advice and guidance on matters related to Planning, Programming, Budgeting, and Execution (PPBE) initiatives and recommend improvements to reduce overall costs
Examine, analyze, and interpret accounting data, records, and reports
Plan, implement, and coordinate budget formulation and execution tasks
Resolve problem disbursements and provide reconciliation support for unmatched disbursements (UMDs), unmatched collections (UMCs), open document listings, contract closeout and negative unliquidated obligations (NULOs)
Evaluate programs to determine the need for programming adjustments and validating requirements
Provide accounting support services related to year-end closing and financial statement preparation

Financial System Requirements and Testing

Gather requirements, document processes, and design solutions
Document test plans, test suitability of solution, and validate functionality
Create test results documentation, test reports, and recommendations
Provide User Acceptance Training (UAT) and over-the-shoulder training support
Conduct Independent Verification and Validation (IV&V) reviews

Dormant Account Reviews

Assist with DAR-Q document requests to document available appropriations prior to expiration
Verify open recorded obligations/unliquidated obligations (ULO)
Liaise between key stakeholders such as Program Managers, Contracting Officers, funds holders, and accounting officers
Apply an audit readiness perspective to open obligations in relation to financial reporting
Assess DAR-Q responses for completeness and appropriateness of documents provided and verify internal controls are present throughout the review process

Program
Management

Let us apply more than 30 years of experience in federal program management to your financial management needs.

Project Management and Control

Create Work Breakdown Structures (WBS) to show complex activities in a single viewpoint of measurable, traceable, and functional tasks
Manage risk in four continuous steps: Identify, Analyze, Mitigate, and Monitor
Employ Cost/Benefit Analysis to review financial requests, assess new and existing program tradeoffs, and explore alternative funding methods
Conduct Feasibility Determination by objectively examining several different factors prior to beginning a project or task

Schedule Development and Management

Create realistic schedules with identified critical paths and optimization
Determine reasonableness of schedules based on project constraints (scope, resources, budget, etc.)
Analyze changes in schedule and impacts for all affected organizations
Document milestones and track major events, completed phases, and deliverables, including those with external dependencies
Identify and mitigate risks capable of impacting schedule delays

Performance Metrics

Prepare metrics analysis reports that record quality and quantity levels of productivity
Track schedule progress at program, project, or task level, milestones, phases or stages, actual costs verses planned costs, and/or deliverable quality aspects including defects
Determine how delivery is being performed against the program management plan and/or need for corrective actions
Update metrics for status for change requests, corrective actions, preventative actions, and defect repairs along with their estimates to completion

Audit
Sustainment

KTech provides targeted audit remediation and sustainment testing, audit support, transaction analysis and processing, and supports legacy and ERP operating environments.

Targeted Audit Remediation and Sustainment Testing

Identify target areas for evaluation and testing: high risk business processes
Perform sustainment testing on low risk areas to confirm continued audit-ready state
Apply the “auditor lens” to testing efforts
Determine if adequate and appropriate supporting documentation exists to support key financial events and transactions
Document test results and clearly identify any deficiencies
Develop actionable recommendations that can be incorporated to corrective action plans (CAPs)
Support CAP completion by partnering with process owners
Leverage test results to support the annual Statement of Assurance

Audit Support

Utilize audit procedures during internal control testing to familiarize process and system owners with PBC response procedures
Evaluate organizational ability to produce evidential matter in a timely manner
Provide expertise with supporting audits
Evaluate PBC requests upon receipt and provide guidance to system and process owners
Evaluate PBC responses prior to response to auditor for appropriateness and completeness Evaluate auditor-issued NFRs and provide recommendations for corrective actions
Monitor and update agency CAP reporting in the NFR Database
Write detailed step-by-step desk guides to assist agency personnel with obtaining evidential matter for internal control and substantive testing

Transaction Analysis and Processing

Analyze and document universe of transactions
Identify the location of populations and transactions to be sampled for testing, audit or examination – including those outside of the General Ledger system
Identify reconciliations and interface controls supporting existence and completeness over the universe of transactions, including feeder systems to the accounting system of record
Determine if adequate supporting documentation exists to support universe of transactions
Reconcile the General Ledger to transaction detail
Tie specific financial statement line items to the corresponding transactions

Legacy and ERP Operating Environments

Identify service providers and evaluate results of SSAE No. 18 reports and impact to the agency
Develop and execute Complementary User Entity Control (CUEC) testing for access, general, and business process controls
Develop complete inventory of all systems and micro-applications that impact the control environment
Understand technical architecture and transactional data flows
Integrate Common Government-wide Accounting Code (CGAC) Structure and Standard Financial Information Structure (SFIS) standards where applicable
Evaluate service provider relationships and related MOU/MOA
Perform Federal Information Systems Control Audit Manual (FISCAM) testing
Test Information Technology (IT) General and Application controls

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Inventor of the USB Flash Drive Storage Case
8000 Towers Crescent Drive
Suite 1397
Vienna, VA 22182
NAICS: 541511, 541512, 541519, 541611, 611430
DUNS: 080957373 | CAGE Code: 8LQH0

CONTACT US:
Phone: 866-678-0071
Fax: 703-250-4294
Email: info@k-techllc.com

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