Financial Management

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FinancialManagement

Cotton & Company provides services in this specialized federal government arena, and our personnel are thoroughly familiar with auditing standards, federal accounting standards, cost accounting concepts and principles, and administrative requirements covering a wide variety of governmental assignments. Our financial services include:

  • Federal Financial Statement Audits
  • Financial Management Consulting
  • OMB Circular A-123 Implementation and Compliance Support
  • Financial Management Training

Federal Financial Statement Audits

Cotton & Company has successfully completed numerous federal financial statement audits since the passage of the CFO Act in 1990. Our audit philosophy is based on integrity, objectivity, independence and strict adherence to professional standards, regulations, laws and industry best practices. To efficiently and effectively achieve our audit objectives, we employ a risk based approach that:

  • Places an emphasis on audit planning to ensure proper testing of controls, balances, and compliance with laws and regulations
  • Fully integrates information technology processes and controls
  • Properly considers and leverages internal controls
  • Requires open and timely communication with stakeholders

Financial Management Consulting Services

Cotton & Company assists organizations in assessing and delivering solutions to meet their financial management requirements. We have been providing a wide range of services and objective results helping organizations achieve their financial management goals. Our services include, but are not limited to:

  • Audit support and remediation
  • Accounting support
  • Budget execution support
  • Internal control assessments
  • Regulatory reporting activities
  • Improper payments analysis
  • System implementation-readiness activities
  • Policies and procedures design and documentation

OMB Circular A-123 Implementation and Compliance Support

Cotton & Company has helped numerous federal agencies establish and maintain programs that meet and exceed the internal control requirements specified in OMB Circular A-123, Management’s Responsibility for Internal Control. We have a track record of implementing and executing effective, risk-based management control programs. Services we have provided to our clients include:

  • Designing Federal Managers’ Financial Integrity Act (FMFIA) programs
  • Assisting in the establishment of proper governance structures (e.g., Senior Assessment Teams)
  • Planning the assessment of internal control over financial reporting
  • Identifying, documenting, and testing key controls over financial reporting
  • Developing, implementing, and monitoring corrective action plans
  • Assisting in the preparation of the annual assurance statements

Financial Management Training

We provide agencies with tailored financial management training programs that include:

  • Developing materials for regional, foreign, and headquarters conferences
  • Providing instructor-led classroom training, virtual training, and video teleconferencing
  • Developing demonstrations, interactive learning simulations, exercises, and quizzes to facilitate full participation and understanding of training materials

Our training experts are well-versed in video production software, which we have used to develop reusable on-demand training for our clients.