Compliance Services from Deltek Consulting

Audits are never a pleasure but they are about to get a lot tougher. Companies are facing increased oversight activity from government agencies like DCAA and other outside auditors. A thorough understanding of the compliance process is needed to avoid an increase in the level of disruption to your already-overburdened operations.

Fortunately, your organization can begin preparing for the more demanding and complex compliance challenges now.

Deltek Consulting draws on its extensive industry experience with a series of offerings designed to help your firm be ready to answer the questions internal auditors, outside auditors and government agency auditors will ask:

 

  • Reconciling
    Accounting
  • Reconciling
    Purchases
  • Defining &
    Documenting
  • Desktop
    Documentation

Reconciling – Accounting

Do any of these Costpoint reconciliation challenges look familiar to you? Deltek Consulting can help you address these common issues:

  • Revenue in project reports not equal to GL revenue
  • Labor reports not equal to GL labor
  • Calculated bills not tying to PSRs, SIE, or GL
  • SIE report not tying to financial statements
  • Unbilled balances not equal to GL Unbilled
  • Accounts Receivable subsidiary ledger not equal to GL Accounts Receivable
  • Accounts Payable subsidiary ledger not equal to GL Accounts Payable
  • Project Ledger not tying to GL or financial statements

Reconciling – Purchase Order Commitments

Purchase order commitments are one portion of the typical project status report. The purchase order commitments help project managers determine not only what has been expensed to their project but also how much money has been committed/budgeted to vendors.

Deltek Consulting can:

  • Review business processes for current purchasing cycle
  • Provide assistance to identify causes of incorrect commitment entries
  • SIE report not tying to financial statements
  • Help review current commitment report information looking for examples of incorrect entries
  • Discuss the process and advantages for generating PO accruals
  • Review different tools and provide information and processes to be able to correct errant entries

Defining and Documenting Inventory Procedures

Proper tracking of material inventory has a strong impact on profits, whether it is an expense project or company asset. Improper procedures can directly affect your bottom line due to mishandling and loss of materials as well as additional time spent resolving preventable issues.

Deltek Consulting can:

  • Review business processes for current inventory processing
  • Provide suggestions for improving inventory handling processes
  • Provide assistance to identify causes of incorrect inventory balances
  • Help review current Stock Status report information looking for examples of incorrect balances
  • Discuss the process and advantages for cycle counts and frequent inventory counts
  • Review different tools and provide information and processes to be able to correct errant entries

Desktop and Process Documentation

Desktop procedures describe the basic task and procedure needed to accomplish a specific job effectively and correctly. They also assure consistency of task performance, allowing you to hold your employees more accountable. Missing or deficient desktop procedures make it difficult to transition work and responsibilities. Is SOX compliance a concern? Having clearly defined procedures and processes will lower process risk, complement your internal control structure and save you time and money.

Deltek Consulting can:

  • Review your business requirements and current processes
  • Develop customized desktop procedure documentation, building from an existing Deltek library
  • Quickly and easily customize desktop procedures to meet your needs
  • Update existing desktop procedures to reflect design changes or system upgrades
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To learn more about any of these offerings, please contact us:


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