Accenture Federal Services, a wholly owned subsidiary of Accenture LLP, has received two contracts totaling more than $30 million from the US Department of the Navy to continue to support the Navy's drive toward financial auditability.
Accenture was awarded a three-year, $25.5 million contract to work with six commands and the US Marine Corps to provide audit readiness services. Work will include review of business processes, internal controls and related systems to support improved business operations at Naval Air Systems Command, Naval Sea Systems Command, the Navy's Assistant for Administration, Field Support Activity, Office of Naval Research, Naval Research Laboratory and the Marine Corps.
Accenture also was awarded a three-year, $5.37 million Financial Information Systems Control Audit Manual (FISCAM) contract to evaluate the design and operating effectiveness of IT general computer controls and business process automated controls for the Navy Enterprise Resource Planning system. Accenture's work will include verifying processes, testing controls and supporting plant, property and equipment validation, all of which are key elements of the Navy's Office of Financial Operations' plan to achieve and sustain audit readiness.
The FISCAM review of the Navy ERP will help the Navy assess General Accounting Office compliance for this core financial system. Both contracts support the Navy's Financial Improvement Program (FIP). The program's objectives are to improve the accuracy, timeliness and reliability of financial information to increase confidence in the Navy's financial management capabilities, Accenture said.
"Ensuring that all internal financial controls provide accurate information will help the Navy meet all federal and Department of Defense guidelines toward auditability. This is a critical initiative that assists Navy leaders by improving the quality and reliability of financial data and securing the effectiveness of their ERP systems," said Vince Vlasho, who leads Accenture's work with the US Navy.