Financial Audits - KEY has performed audits in accordance with ....


Generally Accepted Auditing Standards (GAAS), Generally Accepted Government Auditing Standards (GAAS), and Generally Accepted Accounting Principles (GAAP). Preparing financial statements provides an opportunity for an independent professional to review operations and improve financial management. Our objective is to provide superior audit and accounting service without disrupting the normal operations of the business. Our knowledge of the issues will be of benefit in improved financial statement presentation and analysis for both management and board of directors as well as increased managerial effectiveness within the organization.




Accounting/CFO Services - KEY currently provides weekly, monthly......


and quarterly accounting services to a variety of industries. Our service includes set-up of the accounting systems and financial reporting we have performed using Deltek, MAS 90, Peachtree and Quickbooks accounting software. As well as specialized industries, we develop policies and procedures, including related accounting manuals for our clients. We also provide training to transition from maintaining the books for our clients to assisting with recruiting the internal bookkeeper.




Tax Planning and Preparation Services - KEY provides tax services to ...


companies as well as individuals. We are proficient at preparing tax returns for partnerships, Corporations, Estates, Trusts and LLCs. We can advise on the best tax entity for your specific needs. Our individual tax services include preparation of tax returns for self-employed individuals as well as tax planning and personal finances. Our professional staff of experienced tax specialists assures that our business and management planning recommendations are based on sound tax planning considerations.




Business and Management Services - KEY has performed numerous ...


consulting projects for Government and commercial organizations. This experience provides us with unique qualifications that utilize our business skills. We have also performed project and company administration reviews to improve the flow of information, reduce paperwork and establish meaningful management reporting services.




Accounting Technology Consulting - KEY‘s primary goal is to help ...


companies improve the efficiency of financial management systems with an objective to improve the flow of information and identify and provide useful financial information. We address the increasing use of microcomputers (single user or local area networks) to perform accounting, financial and administrative operations.




Training and Seminars - Ms. Key has taught college accredited ...


courses to adult learners. The titles included Basic Accounting, Financial Accounting and Cost Accounting. She has also performed training on Federal Regulations for Proper Timekeeping Procedures for federal contractors.





Service 

Below are some of the projects we support or have worked on in the past.

U.S. Patent and Trademark Office (USPTO)


KEY is currently providing budgetary, accounting and financial management and reporting services at USPTO. KEY is providing a significant level of service in support of USPTO’s highly automated and complex financial operations and key programs. Each year, USPTO generates over $1 billion in annual revenues from delivering a wide variety of intellectual property services, and related products. We are responsible for performing monthly accounting analysis and provide financial statements to be consolidated with the U.S. Department of Commerce.




U.S. Department of Housing & Urban Development (HUD) – Single Family Claims Support Center & Post Claims Review


KEY was under contract with FHA to operate the Single Family Claims Support Center. KEY was responsible for the manual processing of supplemental claims and for maintaining an automated system for establishing receivables owed by mortgagees that receive excess claim payments, due to their misstatement of expense amounts. These accounts had to be created, monitored, and updated according to the specifics related to each case, including determining the correct amount for posting collections that are received and generating demand letters. KEY performs on-site and in-house post claim and follow-up reviews at more than 100 mortgage companies each year. This requires a team of trained reviewers to inspect the contents of mortgage insurance claim files from various mortgage companies that service and sometimes hold the mortgage notes in default. The review team analyzes legal documents for compliance with FHA processing requirements, ensures that preservations and protection costs are allowable and fully documented, and reviews files for compliance with FHA loss mitigation requirements. The team cites any non-compliance and calculates a proposed refund to HUD. The team provides mortgage lenders with technical advice and recommendations on how to better maintain mortgage files and improve foreclosure document processes and procedures to avoid penalties.




U.S. Department of Housing & Urban Development (HUD) – Lender Assessment Sub-System


KEY provides compliance monitoring services by reviewing audited financial statements and supplemental reports received annually through the Lender Assessment Sub-System (LASS) from mortgagees and lenders participating in FHA Insurance Programs. Our team substantiates that the LASS submissions are completed by the lenders based on the lenders’ financial statements and supplemental reports that were audited by independent certified public accountants (CPA) in accordance with the HUD Handbook 2000.04 Rev. 2, Consolidated Audit Guide for Audits of HUD Programs.




U.S. Department of Housing & Urban Development (HUD) – Multifamily Claims


The Multifamily Claims Branch (MFCB) requires KEY to perform claim reviews and settlement processes under various subtasks. We consider sub-task one to be the core examination process upon which our performance of all other subtasks will be based. Approximately 150 regular claims will be examined annually, consisting of three types: Insurance Assignment – Final Payment; Coinsurance Claim – Final and Payment Conveyance Claim – Final Payment.




U.S. Department of Housing & Urban Development (HUD) – CPA Services


KEY performs reviews of the Asset Control Area (ACA) II program participant performance report to ascertain whether or not the contractor is meeting the terms of the contract. We have already provided an Agreed Upon Review Procedures (AUP) report to assess the extent of HUD’s regional Homeownership Center’s compliance with the documentation, processed and reviewed requirements prescribed by HUD’s Real Estate Owned (REO) Division’s Financial Control Manual (FCM) regarding processing payment transmittals submitted by HUD’s Management Marketing contractors.





8720 Georgia Ave, Suite 800 

Silver Spring, MD 20910

Office Hours 8:30am - 5:30pm

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Phone: 240-641-5197 /240-641-5199

Email: bkey@bkeycpa.com