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FMS Provides IRS with Compliance, Performance and Risk Analysis Support Services

In August 2010, the U.S. Internal Revenue Service (IRS) contracted with Federal Management Systems, Inc. (FMS) through the award of a competitive three year BPA to determine the level of compliance of its legacy Individual Master File (IMF) accounting system with Federal Financial Management System Requirements (FFMSR). This analysis of their legacy accounting system required providing compliance reviews, performance reviews, statistical sampling and risk analyses of the eight (8) core functional areas of FFMSR and their applicability to the IRS legacy system as follows:

  1. System Management
  2. General Ledger Management
  3. Budgetary Resource Management
  4. Payment Management
  5. Receivable Management
  6. Cost Management
  7. Fund Balance with Treasury Management
  8. Technical System Requirements

FMS’ management and staff used their in-depth knowledge and experience with implementing Federal regulations and guidance in reviewing, testing and recommending improvements in the eight core functional areas. In this regard, using as a guide the Core Financial System Requirement, FFMSR, as mandated by FSIO, the FMS staff applied such regulations as OMB Circulars A-123, A-127, A-136 and GAO Standards for Internal Control among others in developing internal controls and risk management compliance requirements for the IRS legacy system and for developing recommendations for the transition of the legacy system to a new accounting system (CADE 2). This process required:

  • Analyzing the eight (8) core areas of the FFMSR Requirements
  • Assessing the FFMSR Requirements Applicability to the legacy accounting system
  • Determining compliance and system traceability to each requirement
  • Providing supporting information and data related to each requirement
  • Perform FFMSR Testing and Survey analysis
  • Providing a formal process to certify compliance for FFMSR Requirements
  • Developing an understanding of the each FFMSR Requirements and the relationship to the accounting system functionality
  • Documenting the process of how the accounting system functionality should satisfy each applicable FFMSR Requirement
  • Providing a description of compliance levels and related risk levels for each FFMSR Requirement
  • Mapping the applicable FFMSR Requirement to a Core Functional Area
  • Developing internal control guidelines and procedures for the transition to the new accounting system, and
  • Developing corrective action recommendations to resolve issues of non-compliance.