Advisory services help organizations improve performance, primarily through the analysis of existing business problems and development of plans for improvement. Experienced and knowledgeable professionals assess and provide feedback on the quality of your organization’s current business processes and controls, and determine the areas where you can improve the effectiveness and increase the efficiency of your operations.
Financial Management Support
By implementing financial management support we assess financial management systems; improve financial reporting and analysis; provide strategic financial planning, and financial policy formulation and development. With these solutions we can also assist with financial quality assurance efforts, and perform benchmarking.
Consulting Federal Grant Recipients on Grant Administration and Cost Principles
In consulting federal grant recipients, the major tasks are to implement and drive compliance to the accounting requirements of the funding agency. Grant administration functions include, but are not limited to: set up of a general ledger to ensure that the chart of accounts is adequate to properly record federal funds; establishing internal controls to ensure accounting records include supporting source documentation for all costs; confirming the appropriate level of approval is granted prior to all budget changes; ensuring written procedures are in place for minimizing fund draw downs.
Outsourcing occurs when an organization purchases services from an outside supplier, rather than performing the same work within its own facilities, in order to cut costs. The decision to outsource is a major strategic one for most companies, since it involves weighing the potential cost savings against the consequences of a loss in control over the service. Outsourcing your accounting to Hoskins & Company means that experienced and knowledgeable professionals will be overseeing the very important day to day accounting tasks for your organization.
Internal Audit Outsourcing
One of the most practical and prudent things a company can do to reduce and manage their business risk is to focus attention on the internal controls and processes of their business. Developing effective and well-designed internal controls are essential to reduce the business risk of human error, fraud, waste and abuse. Ensuring that these controls are properly introduced and followed is the purpose of the internal audit function. We can provide you with the assistance you need to assess the sufficiency of your current controls, design and test new controls, and to manage your risk. We provide internal audit services that focus on business process improvement, financial and operational audits and compliance reviews that are relevant and add value to your organization with sustainable management agreed improvement plans.