Reston, Va.-based companies Infor and TeraThink Corp. announced Oct. 6 that the two companies have helped Washington Headquarters Service (WHS) achieve a repeatable approach to assist with audit readiness. The WHS Financial Management Directorate (FMD) has been working to establish a state of audit readiness, as scheduled by Office of the Under Secretary of Defense (Comptroller) Financial Improvement and Audit Readiness (FIAR).
“Washington Headquarters Services’ second GRC [governance, risk and compliance] release significantly enhances their transaction monitoring capability enabling WHS managers to ask the right questions at the right time and deploy proactive solutions for financial accountability,” TeraThink CPA and Senior Vice President Thomas Byers said. “GRC, combined with the ERP discipline and enhanced business processes of WHS’ EBAS-D system, is a game changer in allowing WHS to provide reliable and auditable support to OSD customers.”
To help improve management and system controls and progress to an audit ready state, WHS selected the Infor Approva Continuous Monitoring (IACM) Process Insights (PI) transaction monitoring solution which is currently deployed and operational at the Dept. of Defense WHS.
The solution can help streamline each audit cycle by eliminating certain audit preparation activities, which can provide the auditors with visibility into the EBAS-D source system and can remove the need to develop manually intensive audit reports that demonstrate compliance.