Williams Adley specializes in providing audit and assurance, management consulting, and cybersecurity risk management services to the federal government. With industry expertise in both the civilian and defense arenas, we work with our clients to solve their problems and meet their goals. Accurate financial reporting, program improvement, cost reduction, and regulatory compliance are among the many financial management challenges we help our clients grapple with. No matter the challenge, however, our dynamic team of subject matter experts is prepared with solutions.
AUDIT AND ASSURANCE
CYBERSECURITY RISK SERVICES
MANAGEMENT CONSULTING
AUDIT AND ASSURANCE
Williams Adley provides the full spectrum of financial audits, performance audits, and attestation engagements as defined by GAO’s Yellow Book for both civilian and defense agencies. We design our audits and examinations to provide a value-added perspective and to enhance financial management, operations, and accountability.
Case Studies
Financial Audits
Federal Financial Statement Audits
Williams Adley entered the federal financial statement audit arena soon after the CFO Act of 1990 was passed. Since then we have worked continuously to enhance the quality of our audits by focusing on our methodology, our process, and our communication. We use technology at every turn to enhance data analysis, workflow, and information sharing so that we can deliver the quality audit our clients deserve. The GAO/CIGIE FAM forms the foundation of our audit approach but we look to incorporate additional procedures as appropriate to customize our approach for each client. Williams Adley’s auditors come with deep industry expertise, a determination to resolve engagement challenges with minimal risk, and a client focused relationship style that supports satisfaction.
Incurred Cost Audits
In support of OIGs, and other federal and state agencies and programs, Williams Adley determines if costs incurred are reasonable, allocable, eligible, and allowable in accordance with laws, regulations, and contract terms and conditions. We also assess the adequacy of internal controls over government funds and ensure compliance with contract terms and conditions. Our audit findings have led to the recovery of millions of dollars of government funds. Williams Adley's professionals are knowledgeable of relevant OMB Circulars, Code of Federal Regulations, agency acquisition requirements, and the DCAA Audit Manual as appropriate.
Performance Audits
Performance audits continue to be in high demand from federal agencies because of the broad range of audit objectives governed by performance audit requirements. As such performance audits remain one of Williams Adley’s core service offerings. Through performance audits we assess the performance of an organization, program, activity, or function in order to provide information to improve accountability and facilitate decision-making by responsible parties. We audit state grant recipients and contract awardees, and perform economy and efficiency and program audits of all types. Our clients look to Williams Adley to deliver thoughtful and actionable recommendations aimed at financial and compliance improvement.
Attestation Engagements
For clients who have reporting needs that don’t require an audit of financial statements, Williams Adley performs attestation engagements to examine, review, or apply agreed-upon procedures to the subject matter, or an assertion about the subject matter, which is the responsibility of another party.
CYBERSECURITY RISK SERVICES (CRS)
Cybersecurity risk is an integral part of every organization and creates true business value. At Williams Adley, our CRS professionals work with our clients to minimize enterprise risk by ensuring proper security and enhancement of their valuable systems.
Case Studies
IT Assurance
FISCAM Audits
Evaluation of agency entity-wide controls, general and application controls, and security management in accordance with GAO’s guidance. For civilian and defense agencies, our IT teams coordinate FISCAM testing during financial statement audits where information systems are significant to the audit objectives.
IT Internal Audit
Independent assessment of existing and needed controls to help executive leadership and oversight bodies understand and address the varied risks of their IT environment.
SSAE 18 Examinations
Examination of controls at organizations that provide services to user entities when those controls are likely to be relevant to user entities’ internal control over financial reporting.
Information Security
FISMA Audits
Audit to determine compliance with established information security guidelines that federal agencies, or those entities that have outsourced agency business, must adhere to. We perform testing to determine if the agency has required documentation, policies and procedures, and defined processes in place to meet NIST requirements.
Information Security Assessments
A risk-based assessment of the way information security is implemented in a system or organization. Our IT team assesses the technology, people, and process elements of security to determine risk to the organization.
Cybersecurity Framework Advisory
Evaluation of an agency’s cybersecurity program to understand the current state against framework characteristics and issuance of recommendations for improvement based on best practice cybersecurity practices across the industry.
Core Consulting Services
Our management consultants help clients identify and solve the challenges that stand in the way of growth and progress. We work closely with our clients to understand their needs and develop a course of action. Knowing where to start often begins by asking relevant questions:
What does your business need to do to succeed?
How can we help you change things?
Where will you start?
Services include:
- Business Process Re-engineering
- Business Process Improvement
- Cost Recovery
- Program Management
- Policies and Procedures Design and Documentation
- Regulatory Reporting Activities
Accounting Support Services
Agencies look to Williams Adley for outsourced accounting support services to realize cost efficiencies and alleviate the drain on internal resources. We help our clients comply with complex accounting and reporting standards such as FedGAAP, lease accounting, and pension trust accounting. Williams Adley’s project management approach for outsourced accounting support requires a high level of sophistication and a comprehensive mix of quality assurance, communication, employee development, and customer engagement. We work side by side with our clients as an extension of their operations, quite often going above and beyond to meet their needs.
Specialized Services
Foreclosure Claims Processing
With 20 years of experience, Williams Adley is the industry leader in outsourced foreclosure claims processing for the Federal Housing Administration (FHA). Annually, our team of FHA Single Family Housing Program experts processes tens of thousands of claims prepared by FHA approved lenders to determine whether costs submitted for reimbursement by the government are eligible for payment. Williams Adley uses customized work flow tools with advanced reporting capabilities to streamline the claims process and provide FHA with real-time financial reporting necessary to manage insurance funds.