.
Experience
(cage code: 1DJS7)
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DoD - Office of Economic Adjustment (OEA)
Program Title:     
Assessment of Internal
Controls Over Financial
Reporting    
Period of
Performance:         
September 2007 to
August 2008
Contract Number &
Type:                    
W74V8H-06-P-0549, Fixed Price
  The Office of Economic Adjustment (OEA) is a Defense Field
Activity located in Arlington, Virginia with a regional office in
Sacramento, California.  OEA is the Department of Defense’s
primary source for assisting communities that are adversely
impacted by Defense changes.  The OEA receives an annual
appropriation of Operations and Maintenance funds to carry out
its mission.  These funds support payroll, travel and training,
goods and services purchases and OEA’s community
assistance program.  
 
Reporting for the Office of Economic Adjustment (OEA).

The engagement can be summarized into eight areas of focus as follows:
  • Review OEA purchase card operations and prepare new Standard Operating
    procedures (SOPs) and assist in their implementation.
  • Identify all other processes and procedures within OEA operations that involve a
    financial transaction and prepare process maps, diagrams, and work and data
    flow charts and make recommendations for identified weaknesses.
  • Analyze OEA financial statements, trial balances, and ledger accounts as prepared
    by DFAS, document the process, and determine the needs and requirements for
    an in-house proprietary and budgetary accounting program.
  • Determine the financial line item requirements necessary to prepare an Assertion
    Package.
  • Assist OEA in the development of its Financial Improvement Plan.
  • Perform an internal control review over financial reporting in accordance with OMB
    Circular A-123, Appendix A, Section III and IV and make recommendations.
  • Assist in training OEA staff regarding the SOPs, internal control regulations, and
    changes in procedure.
  • Ensure that OEA is in compliance with recent guidance on FISMA and OMB A-130.

The following deliverables are required:
  • Written SOP for purchase card program.
  • Written SOPs for all OEA transaction categories.
  • Final work flow, data flow and process diagrams of OEA transaction categories,
    including DFAS procedures.
  • Written report of internal controls in place at OEA.
  • Report on compliance deficiencies and suggestions for improvement.
  • Report on suggested efficiency improvements.
  • OEA Financial Management Improvement Plan.
  • Presentation to the OEA Senior Assessment Team regarding findings.
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