CLIENT: WASHINGTON METROPOLITAN AREA TRANSIT AUTHORITY

Country:  USA, Washington DC

Sector:  Transit and Transportation

Service:  Accounting/Financial Management/Management Consulting

Project:  Accounting and Financial Consulting, Audit Readiness Services

Project Description: WMATA contracted with IBS to provide a range of audit readiness services. These services include: supporting the accounting and finance department with financial statement preparation and audit readiness, providing Controller assistantship, addressing control findings and compliance deficiencies, developing and implementing various business process improvements to address operational efficiency and effectiveness, including accounts payable, grants management, and payroll, and, providing program support for various financial system initiatives. Specifically related to grants management, services being provided include, but are not limited to: maintaining Grant files and funding requests, tracking expenditures to ensure adequate local match are applied, tracking sub-grantees and contractors awards to ensure DBE goals are met, reviewing budgets in support of applications for administrative and capital grants from Federal Transit Administration and U.S. Department of Homeland Security, assisting with grant closeout activities, and, providing audit resolution support on findings from reviews and audit findings by Grantors, independent auditors, and Offices of Inspector General.