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Forvis Mazars Expands Public Sector Services with Government Outsourced Accounting Line
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Subscribe27 AUG 2024 / SERVICES UPDATES
Accounting and consulting firm Forvis Mazars has launched a government outsourced accounting service line in response to a national shortage of finance professionals in the public sector. Led by Karen Kurtin, the new service offers specialized accounting support to help government agencies navigate financial challenges, and aims to provide critical resources in light of limited staffing options.
Forvis Mazars, one of the largest public accounting and consulting firms in the U.S., has broadened its public sector advisory practice with a newly launched government outsourced accounting service line. This addition responds to the national shortfall of finance professionals in the public sector, which is impacting state and local governments.
Meeting the Growing Need for Public Sector Financial Expertise
Forvis Mazars’ new service line offers specialized accounting support to help government agencies manage financial challenges. With an expanding gap in the availability of qualified finance professionals, this service aims to provide essential resources for governmental entities facing limited staffing options.
"Our team is well positioned to provide support for state and local governments at a time when outside resources are more needed than ever," stated Karen Kurtin, who leads the new service line. Kurtin brings 17 years of public sector expertise, including extensive experience in audit services and municipal finance management. Her team integrates insights from Forvis Mazars’ existing outsourced accounting solutions and an industry practice that already serves hundreds of governmental bodies across the country.
Addressing the Public Sector Talent Shortage
The Government Finance Officers Association has highlighted an ongoing talent shortage in public sector finance, with many current professionals nearing retirement. The pandemic further exacerbated this gap, reducing the workforce by tens of thousands and putting additional strain on state and local government finance departments.
Comprehensive Services to Support Government Finance Functions
Forvis Mazars’ outsourced accounting services are tailored to meet the diverse financial needs of government agencies, offering solutions that ensure readiness for audits and strengthen daily financial functions. Key offerings include:
• Year-End Closing Entries and Journal Entry Proposals: Assistance with journal entries and ledger preparation for smoother audit processes.
• Compliance with GASB Pronouncements: Guidance on implementing the latest Governmental Accounting Standards Board (GASB) updates.
• Financial Reporting and Audit Readiness: Preparation of annual comprehensive financial reports and support for audit interfaces.
• Support for Complex Transactions: Assistance with leases, pension plans, capital assets, and other post-employment benefits.
• Internal Control Reviews and Bank Reconciliations: Strengthening internal controls to enhance financial stability.
This service line allows government finance departments to manage end-of-year tasks while maintaining focus on essential daily operations, supported by professionals who bring both auditor and finance director perspectives. Forvis Mazars’ public sector team is ready to help state and local governments bridge the talent gap and adapt to the evolving demands of public sector financial management.
Until next time…
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