Improving Financial Reporting and Audit Model Data Entry

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Improving Financial Reporting and Audit Model – Data Entry Luke Sheppard May 2019

Improving Financial Reporting and Audit Model – Data Entry Luke Sheppard May 2019

IFRAM – Project Goal for FY 19 • • Page 2 Facilitate the removal

IFRAM – Project Goal for FY 19 • • Page 2 Facilitate the removal of the closing package Reduce redundant reporting Reduce manual reporting required by entities Identify gaps in reporting model that could be automated in the future LEAD ∙ TRANSFORM ∙ DELIVER

IFRAM – History • Previous to FY 19 • • Page 3 GTAS ATB

IFRAM – History • Previous to FY 19 • • Page 3 GTAS ATB Submission Transferred to GFRS Manual Data entry for notes Closing Package Sign off in Approvals Module Closing Package attached in GFRS and Sent to OMB Max for collection LEAD ∙ TRANSFORM ∙ DELIVER

IFRAM – FY 19 • GTAS Data Submitted and Certified • GTAS Creates FS

IFRAM – FY 19 • GTAS Data Submitted and Certified • GTAS Creates FS and Notes data (ones that can be crosswalked) • FRAD Accountants use this data to assist in data entry into our internal system • A-136 Note 44 (Reclassification Adjustments of AFR due to FR Compilation) is a key point in removing the need for the Closing Package for FY 19 • FRAD accounts use these sources to manually fill out Entity note data Page 4 LEAD ∙ TRANSFORM ∙ DELIVER

Data Heirarchy • Fiscal Service will use a data hierarchy when determining priority of

Data Heirarchy • Fiscal Service will use a data hierarchy when determining priority of data usage • Priority Order 1. Notes Crosswalk (GTAS) 2. AFR 1 -1 3. Agency Data Calls/Communications Page 5 LEAD ∙ TRANSFORM ∙ DELIVER

Dry Run (FY 18 Data) • Fiscal Service will conduct a Dry run of

Dry Run (FY 18 Data) • Fiscal Service will conduct a Dry run of this reporting model June 3 rd – June 14 th • • • Page 6 Identify gaps in reporting Estimate workload Establish Correct Agency POCs for each note Ensure process captures complete and accurate data Compare to actual agency reported note data from GFRS LEAD ∙ TRANSFORM ∙ DELIVER

Keys for Success • Agency POC availability • Please provide contacts who will be

Keys for Success • Agency POC availability • Please provide contacts who will be available during business hours so that communication of issues is smooth • Dry Run Participation • June 3 rd – June 14 th • FYE 19 • November 20 th – December 6 th Page 7 LEAD ∙ TRANSFORM ∙ DELIVER

Questions • GTAS ATB/Notes Crosswalk Questions • Luke. Sheppard@fiscal. treasury. gov • Andrew. Morris@fiscal.

Questions • GTAS ATB/Notes Crosswalk Questions • Luke. Sheppard@fiscal. treasury. gov • Andrew. Morris@fiscal. treasury. gov • FR Notes Subject Matter and Content Questions • Melissa. Williams@fiscal. treasury. gov • Michael. Conley@fiscal. treasury. gov Page 8 LEAD ∙ TRANSFORM ∙ DELIVER

Financial Reporting Audit Nonfinancial Reporting Audit Corporate reportingFinancial Reporting Audit Nonfinancial Reporting Audit Corporate reporting
Entry Level Entry Pathways Entry Level Entry PathwaysEntry Level Entry Pathways Entry Level Entry Pathways
Reporting Reporting Types Interpretative Reporting Investigative Reporting ReportingReporting Reporting Types Interpretative Reporting Investigative Reporting Reporting
Financial reporting financial accounting Financial reporting financial accountingFinancial reporting financial accounting Financial reporting financial accounting
AUDIT PLAN AUDIT PROGRAM PROSEDUR AUDIT PERENCANAAN AUDITAUDIT PLAN AUDIT PROGRAM PROSEDUR AUDIT PERENCANAAN AUDIT
AUDIT PLAN AUDIT PROGRAM PROSEDUR AUDIT PERENCANAAN AUDITAUDIT PLAN AUDIT PROGRAM PROSEDUR AUDIT PERENCANAAN AUDIT
Tax Audit Reporting Tax Audit Reporting CLAUSE WISETax Audit Reporting Tax Audit Reporting CLAUSE WISE