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FMR or Reg 17 review? | New ERP system? | Adopting the standard COA?
We are ready to assist with any special project for your local government.
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Financial Audits
Ensure your systems and procedures meet compliance standards and best practices.
We offer financial audit services to provide detailed insights into key areas such as risk management, internal controls, financial reporting, and legislative compliance. Our team offers actionable recommendations and identifes opportunities for improvement.
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Financial Management Review - Local Government (Financial Management) Regulations 1996
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Reg 17 Review - Local Government (Audit) Regulations 1996
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We offer comprehensive financial audit services, including reviews under Regulation 17 of the Local Government (Audit) Regulations 1996 and the Local Government (Financial Management) Regulations 1996. Our expert team evaluates the appropriateness and effectiveness of your systems and procedures, ensuring compliance with legislative requirements and industry best practices. Through in-depth assessments—both onsite and remote—we provide detailed insights into key areas such as risk management, internal controls, financial reporting, and legislative compliance. By identifying opportunities for improvement and offering actionable recommendations, we empower CEOs and leadership teams to make informed decisions, strengthen governance, and enhance operational efficiency.
Chart of Accounts Restructure
Enhance efficiency and accuracy in local government financial management.
By adopting the Standard Chart of Accounts, local governments can enhance consistency and precision in financial management,
paving the way for improved service delivery and better outcomes across the sector. Whether you are adopting the standardised chart of accounts or transitioning between legacy systems, we can facilitate the process, map your financials and train your staff.
paving the way for improved service delivery and better outcomes across the sector. Whether you are adopting the standardised chart of accounts or transitioning between legacy systems, we can facilitate the process, map your financials and train your staff.
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The Standard Chart of Accounts (COA) project was developed to create a unified and logical numbering system that can be adapted by any local government, regardless of size. The project aimed to streamline processes, improve reporting, and simplify financial management across the sector. It adheres to the Department of Local Government’s Accounting Manual and aligns with Moore Australia's reporting templates, ensuring consistency and compliance with regulatory requirements, including Australian Accounting Standards and reporting to various agencies.
Key Features of the Standard COA
- A logical, expandable, and scalable structure that covers General Ledger Numbers, Job Numbers, Nature & Type (IE Codes), Cost Centres, Element Types, and Balance Sheet Accounts.
- The ability to accommodate unique organizational needs while maintaining consistency across local governments.
- Simplified processes for creating purchase orders, preparing reports, and training staff, reducing the reliance on individuals with specialized knowledge of previous systems.
Implementation Process
- The project involved extensive testing and piloting at selected councils, where lessons learned were incorporated into templates and processes to ease future implementations.
- A preferred implementation method was identified, which involves remapping historical data to the new system. This approach ensures data consistency, eliminates "clutter" from legacy accounts, and facilitates smooth reporting.
- The implementation process can typically be completed within 8 weeks, with thorough testing and minimal staff training required.
Benefits
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Streamlined Operations: The standardized structure simplifies day-to-day tasks, reduces errors, and makes financial management more intuitive for all staff, including those without financial expertise.
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Improved Reporting: Consistency in account structures enables better reporting capabilities, including grant acquittals, asset reconciliations, and budget schedules.
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Resource Sharing: A standardized COA allows easier movement of staff between councils and facilitates the sharing of reports and templates, saving time and effort across the sector.
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Long-Term Consistency: The standardized system provides a strong foundation for financial management, avoiding the confusion caused by ad hoc setups in different organizations.
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ERP Implementations
Eliminate the complexity of preparing your data for conversion into new ERP systems.
Let us simplify the process and set you up for success in your new financial environment. Our team can save you time and effort with data preparation, system mapping, and reconciliation to align your financials effortlessly with your new ERP.
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Transitioning to a new ERP system is seamless with our expert support. We handle the complexities of data preparation, system mapping, and reconciliation across critical modules, including rates, payroll, and general ledger. Our meticulous approach ensures your data is accurate, aligned, and ready for migration, minimising downtime and disruptions. With your financial structure perfectly integrated into the new system, we eliminate the hassle and set you up for long-term success in your new financial environment.
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