Accenture Federal Services

Federal Financial IT Compliance (FITC)How We Deliver a Comprehensive Solution to the Federal Government

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Financial IT Compliance (FITC)With mounting regulatory changes and increased audit scrutiny, federal agencies expect their system integrators to provide operational functionality while meeting compliance requirements. Federal Financial IT Compliance (FITC) is the evaluation of financial systems in the context of information assurance and financial statement audits to support evolving regulations and increased accountability on both the CIO and CFO functions. We focus on pre- and post-delivery outcomes to help our clients align FITC requirements and bridge the gap between system integration (SI) and auditability. Our market-tested FITC solutions combine tools to integrate development and address federal audit standards and accounting practices, along with extensive SI and audit experience to deliver high performance. This strategy supports the compliance necessary for all federal financial and core feeder systems, including subsidiary ledgers, HR and logistics, using three overlapping dimensions—system implementations, financial audits and information assurance. Our FITC toolset incorporates guidance and regulations from a number of sources, including the Federal Information System Control Audit Manual (FISCAM), National Institute of Science and Technology (NIST) and Generally Accepted Accounting Principles (GAAP).

Comprehensive SolutionWe offer a comprehensive and proven solution to meet federal agencies’ finance and IT compliance needs. Our FITC team is comprised of former federal financial auditors, certified public accountants (CPAs), certified information systems auditors (CISAs) and certified government financial managers (CGFMs) who support large Accenture engagements and combine core system implementation and management consulting skillsets to address your IT and audit needs.

Taking a holistic approach toward an agency’s systems, we align with their current audit readiness or compliance program to identify areas of concern, develop compliance processes both systemically and within operations, and educate agencies on how to maintain a compliant finance and IT environment.

FITC provides tools to conduct milestone audit assessments during the development lifecycle to validate the requirements, documentation and controls to meet federal audit standards and accounting practices.

Our FITC services include:

• FISCAM assessments and spot checks

• System implementation and systems development life cycle (SDLC) compliance support

• Financial audit readiness, response support and training

• Corrective action plan implementation

• Business process analysis and improvement templates

• Comprehensive FITC checklists

• FITC regulatory interdependency matrix

FISCAM ReviewFinancial IT compliance begins with the agency’s leadership establishing an understanding of the federal guidelines and audit criteria for the agency’s core systems. We help our clients to develop a strong IT compliance framework by performing an initial FISCAM review of the necessary systems for a pulse check on the current state of compliance. This review focuses on the most critical areas of the agency’s feeder systems to facilitate quick identification of potential systemic weaknesses. We then help the agency create and implement mitigation plans to resolve any identified weaknesses.

Auditability Compliance SupportOur federal financial management and audit concept training sessions are approachable and easy to understand. We bring extensive experience with government regulations, including:

• Office of Management and Budget (OMB) Circular A-11, Circular A-123, Circular A-129

• Federal Financial Management Improvement Act (FFMIA)

• Federal Managers’ Financial Integrity Act (FMFIA)

• Federal Information System Controls Audit Manual (FISCAM)

• Chief Financial Officers (CFO) Act of 1990

We use our experience with other large federal agencies, including the Department of Defense, to ensure that our training material includes the information necessary to properly train and prepare agencies for an evolving regulatory and audit environment.

For more informationTo discuss increasing efficiency in the financial and IT compliance function in your organization, please contact:

Michael Lumb, PMP, CGFM, CDFM michael.lumb@accenturefederal.com +1 571 414 3370

About Accenture Federal ServicesAccenture Federal Services is a U.S. company, with offices in Arlington, Va., and is a wholly owned subsidiary of Accenture LLP. Accenture’s federal business has served every cabinet-level department and 30 of the largest federal organizations with clients at defense, intelligence, public safety and civilian agencies.

About AccentureAccenture is a global management consulting, technology services and outsourcing company, with approximately 336,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$30.0 billion for the fiscal year ended Aug. 31, 2014. Its home page is www.accenture.com.

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