Compliance Reviews and Audit Support
Compliance reviews and audit support are necessary components for demonstrating accountability and transparency. These activities provide insight into the effectiveness of agency operations and support the execution of the agency’s audit objectives. Federal managers face many financial reporting challenges and need assurances that the information provided is accurate. Empirical has extensive experience providing federal agencies with compliance and audit support activities, through our OMB A-123 reviews and audit support services.
OMB A-123 Reviews
OMB A-123 reviews are an important complement to the financial statement audit. They provide federal managers with insight into areas of financial reporting and operations that require improvement due to weaknesses in design or ineffective internal control structure. This assessment provides agencies with the information necessary to identify and eliminate material errors in financial reports. Empirical has experienced professionals with years of experience conducting and executing OMB A-123 reviews, providing accurate results and recommendations and solutions to support internal control and audit objectives.
Agencies face increased scrutiny and stakeholders require greater accountability and transparency in how the government is spending taxpayer dollars. Federal managers need effective audit support to meet financial statement audit objectives in order to demonstrate that the agency’s operations comply with laws and regulations. Empirical’s team of professionals have extensive experience supporting agencies in meeting their audit objectives and remediating noted deficiencies. Empirical leverages our accomplished pool of talent and innovative tools to help support agencies with:
- Remediation and Post-Implementation Monitoring
- PBC Management
- Corrective Action Plan (CAP) Management
- Audit Liaison Activities
- Audit Readiness Assessment
- Business Process Improvement
- Policy and Procedure Development
- Technical Accounting Advice and Guidance