Keya personnel assist government agencies with the selection and implementation of modern financial management systems to improve the performance and effectiveness of public sector programs through leading-edge benchmarking, best practices, and timely strategic analytical support. Our goal is to improve operations based on our practical and results-oriented recommendations that are based on the most efficient financial methods from both the public and private sectors. Keya’s services in this arena include forensic accounting, activity-based costing, and cost variance analysis.
Forensic Accounting: Forensic accounting is a specialty area of accounting that is the result of real or anticipated disputes, litigation, or crime. Keya’s experience in forensic accounting involves the calculation of economic damages, breaches of promise or warranties, insolvency or reorganization, securities fraud, business valuation, and IT forensics and e-discovery. Keya’s professionals use a combination of business information, financial reporting systems, accounting and auditing procedures, data management and IT discovery, data analysis, and the gathering of evidence to identify “crimes against property", fiscal irregularities, and fraud. Keya’s forensic accounts are not only skilled and experienced but possess the appropriate license and formal qualifications within the jurisdiction in which the investigation is taking place.
Activity Based Costing: Activity base costing may be used by government agencies or a business to assign manufacturing overhead costs to products that are the real cause of the overhead. Activity based costing is based on the principle that engineering, special testing, and machine set-up causes costs because an organization has to consume resources. Keya’s experts help government agencies undertake activity based costing to help calculate the true costs of manufacturing or producing products.
Cost Variance Analysis: Cost variance analysis detects variances in an “actual versus planned financial performance” format. Keya’s experts assist agencies: conduct financial analysis, monitor contract performance, identify and document reasons for the variances as well as recommended corrective actions. Our staff prepares reports and briefings to keep stakeholders informed and recommends corrective actions to bring costs back into alignment.