Veris Consulting - Outsourcing

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partnering for your success

outsourcing


Founded in 2000, Veris Consulting, LLC, provides highly specialized accounting, financial, and survey services in particular market niches. The name Veris reflects the cornerstone of our services—integrity and objectivity—and was derived from “verify” and the Latin for “truth.”

Veris’ operations have grown considerably since our formation and today consist of forensic accounting and litigation support, outsourced internal auditing and accounting, information technology consulting and assurance services, and technology-based survey and research services. Veris serves a diverse clientele throughout the United States, as well as clients in Europe and the Caribbean. Services are provided from regional offices in Metropolitan Washington, DC; Metropolitan New York; and Columbus, Ohio.

As part of our formation, Veris acquired certain practice areas of Johnson Lambert & Co., a niche-focused CPA firm created in 1986 by Veris’ founder, Larry Johnson. Recently, we have made further acquisitions from that firm. We expect to continue expanding our resources and service areas as opportunities arise that we believe are consistent with our strategic vision: to provide value and an unparalleled quality of service by concentrating on specialized market niches, remaining committed to technical leadership in those market niches and applying an entrepreneurial spirit that seeks out opportunities in a rapidly changing world.

The management of Veris will continue to dream in color and act in black and white.


technology; and the construction and use of customized business surveys and data research.

outsourcing internal accounting & financial management To manage an organization effectively, senior executives and boards of directors need timely and accurate financial information. Traditionally, internal accounting and

outsourcing

Organizations that master resource allocation are more competitive. They achieve greater financial success. To improve bottom line results and to permit executives to focus on growing market share and controlling costs, they increasingly look outside their own companies for specialized expertise.

finance departments have provided this data. Increasingly, however, organizations recognize that outsourcing some or all of this responsibility is more efficient and, in many cases, results in better quality service. The preparation and maintenance of accurate and meaningful financial data should be a hassle-free support function that provides executives and the board of directors with useful and timely information. Veris provides this and more. Veris has the capacity to handle many, if not all, of your

In his comprehensive discussion of corporate decision-

financial management/accounting needs. We will evaluate

making, Straight From The Gut, Jack Welch, former CEO

the costs and benefits of outsourcing these needs for your

of GE, writes:

organization. As part of that evaluation, we will analyze

Don’t own a cafeteria: Let a food company do it. Don’t run a print shop: Let a printing company do

and identify the potential for cost-effective outsourcing

that. It’s understanding where your real value added

alternatives.

is and putting your best people and resources behind that.

your current accounting and financial reporting operations

Our team serves a wide range of organizations. We can provide full or partial outsourcing; we can provide both

Back rooms by definition will never be able to attract

in-house and off-site services. We can even provide tem-

your best. We converted ours into someone else’s

porary services and resources as needed.

front room and insisted on getting their best. That worked for us so many times. This is what

A traditional internal accounting and finance department

outsourcing is all about.

requires such hard costs as salaries and benefits, as well as rent for office space, computer hardware and software,

Veris has developed specialty resources specifically

training and management. Working with Veris, you pay

designed to help companies focus on their strengths

only for direct time incurred on your behalf. We absorb

and take advantage of ours. Our professionals have the

all non-production time such as sick and vacation leave,

necessary knowledge and experience in full-service

as well as training.

internal accounting and financial management services; comprehensive internal audit services; the identification

Veris Consulting, LLC

www.verisconsulting.com

and assessment of risks and controls related to information


www.verisconsulting.com

As a multifaceted outsourcing firm, we offer a full scope of customized services to meet your needs:

outsourcing internal audit The internal audit function is designed to provide analyses,

General Accounting Services

evaluations, assurances and recommendations to an orga-

n

Annual statement preparation

nization’s management and its board of directors. Histori-

n

Investment reporting and reconciliations

cally, internal audit was considered a traditional compliance

n

Preparation of financial statements

function; however, in today’s environment, internal audit

n

Preparation of financial analyses, including charts

has become a critical tool for management to identify and

and graphs

manage operating risks. Veris offers the resources and skills

Reconciliation of accounts, including preparation

necessary to develop an effective internal audit function.

n

of bank reconciliations n

Meeting and conference registration processing

Veris provides internal audit services to both public and

n

Preparation of tax returns and annual reports,

private companies on a fully outsourced basis or, as needed,

such as personal property and sales & use

to complement an established internal audit function. Many

Cash receipts processing and receivables management

of our professionals have extensive experience in national

including invoicing

firms conducting external financial statement audits and

Cash disbursement processing and payables

outsourced internal audit services. They regularly work on

management

a variety of complex engagements and deal with a variety

Payroll processing

of control and financial reporting issues. Our experience

n n n

enables us to provide a cost-effective and efficient internal CFO Services

audit service, a broader perspective and access to current

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industry practices and knowledge.

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Monthly review of financial position with CEO Review and management of banking and investment relationships and services

The Sarbanes-Oxley Act has dramatically changed the

n

Cash and asset management

manner in which companies consider, evaluate and report

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Establishment and documentation of policies

on their internal controls. Evidence obtained through

and procedures

internal auditing tests contributes to the basis upon which

Preparation of budgets and management of the

management can express its opinion on the effectiveness

budget cycle

of internal controls. However, because of the increased

Presentations to board of directors and other

focus on corporate governance, the need for organizations to

governing bodies

consider and evaluate their internal controls is not limited to

Financial projections

publicly owned companies affected by Sarbanes-Oxley.

n n n

Special Project Consulting Services

Veris offers the following services to organizations:

n

Due diligence for mergers and acquisitions

n

n

Investment policy implementation and review

management including organizational design

n

RFP preparation and selection of financial

and communication

service providers n

n

Review of an entity’s risk identification and

Development and execution of a client-specific and customized internal audit plan focused on financial

Lease vs. buy analysis

reporting and regulatory and operational risks to

ensure that our services are both efficient and effective n

Business risk assessments and process reviews, including such areas as investments, underwriting, claims, finance/accounting and information technology

Veris Consulting, LLC


n

Enterprise Risk Management (ERM) consulting services. ERM requires the identification, prioritiza-

n

Sarbanes-Oxley 404 readiness including: n

tion, assessment and evaluation, and monitoring of

Committee of Sponsoring Organizations of

critical risks across an organization to give manage-

the Treadway Commission’s (COSO) Internal

ment the necessary knowledge to optimize risk and increase performance. We can assist by performing

Control Framework n

an independent review of the organization’s risk management function, developing enterprise-wide of the daily routine and developing policies and

n

Internal Audit department diagnostic reviews and studies including performing external quality assessment reviews (QAR)

Veris Consulting, LLC

Reviewing controls and performing a gap analysis to the COSO Framework

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procedures for ongoing performance of risk assessments and reporting requirements

Documenting controls over financial reporting utilizing the COSO Framework

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training programs to ensure ERM is an essential part

Conducting training seminars in the

Developing and executing testing plans to verify that controls are operating effectively

n

Evaluating deficiencies and implementing remediation plans

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“Veris has developed specialty resources specifically designed to help companies focus on their strengths and take advantage of ours.”


www.verisconsulting.com

e valuating information technology risks & controls

Veris implements well tested strategies to increase

Veris also helps clients evaluate risks related to informa-

responder time and enhance data quality.

survey participation. We deploy user-centric surveys to reach targeted audiences and increase survey response rates. Our surveys have built-in logic checks to save

tion technology, as well as tools and methodologies to assess, control, monitor and measure exposure in such

Based upon our survey results, Veris creates custom-

areas as information privacy and security, human depen-

ized databases that incorporate data quality checks and

dencies, systems reliability and process controls. Our

provide many reporting options. Reports reflect client

professionals focus on embedded technology controls

needs and can break out data by any relevant criteria,

and how they impact your business process.

including geographical regions, company size and more.

Veris offers insight into how your enterprise can move

The types of surveys that Veris conducts include:

from information control assumption to information

n

Financial and operating surveys

control assurance.

n

Compensation and benefits surveys

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Benchmarking surveys

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Needs assessments and demographic surveys

Veris offers the following IT based services: n

IT risk assessments

n

Governance reviews

In addition, we develop and manage customized statisti-

n

Pre- and post-system application implementation

cal programs that receive, analyze and report highly

reviews

confidential data that is used by participants to monitor

n

Disaster recovery assessment

and compare company performance relative to their

n

Application/database security assessments

industry. This information can be accumulated online,

n

Process reviews including IT segregation of

via email or by phone, fax or mail. Veris collects and

duties risks

aggregates data from companies and industries to permit

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IT internal audit outsourcing

the following:

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Sarbanes-Oxley (SOX) IT compliance

n

Customized market share reports

n

Network security assessments

n

Production and detailed end-use sales reports

n

IT general controls assessments

n

Capacity/Inventory reports

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Data forensics

outsourcing business surveys, research & industry analysis

Veris is certified by the Exhibition and Event Industry

Veris specializes in providing expert research services

conventions. Whether you want to know certified trade-

and the development and use of customized surveys and

show attendance figures, the total economic impact of

statistical industry analysis. Our business surveys ask the

your event on the host city or feedback from attendees

right questions of the right people using the right tools.

and exhibitors, Veris can assist you by conducting:

We routinely use a variety of survey tools, including the

n

Attendance audits

Internet, email and telephone interviews. We carefully

n

Event surveys

customize survey instruments to most effectively capture

n

Economic impact studies

the data our clients seek.

n

Industry studies

n

Destination research

Audit Commission (EEIAC) and has developed a special research service that involves examining and measuring a variety of indicators regarding tradeshows, exhibitions or

Veris Consulting, LLC


www.verisconsulting.com


VERIS CONSULTING, LLC www.verisconsulting.com

11710 Plaza America Drive Suite 300 Reston, VA 20190 703.654.1400 Main 703.796.1200 Fax

41 South High Street Suite 3700 Columbus, OH 43215 614.456.4440 Main 614.220.9202 Fax

230 Half Mile Road Red Bank, NJ 07701 732.747.9800 Main 732.747.8700 Fax


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