Summary
Overview
Work History
Education
Skills
Certification
Affiliations
Training
Timeline
Generic

Rimma Loiko

Ashburn,USA

Summary

Governance & Policy; Proven expertise in audit and internal control, audit concepts and principles, compliance with GAAP/PSAOB, GAGAS (Yellow Book), FASAB, Internal Audit IIA IPPF (Red Book), CAS, FAR, DFARS and defense contracts; OMB circulars A-122/2CFR 200 Uniform Guidance, A-123/SOX 404- Management’s Responsibility for Internal Control, COSO/Standards of Internal Control in Federal Government - GAO Green Book, COSO, ERM, A-133/Single Audit, CIGIE Quality Standards for Inspection and Evaluation (Blue Book), A-136 - Financial Reporting Requirements, Audit Readiness (FIAR) and Financial Statements Audit. PIIA (IPIA, IPERA, IPERIA) and RMFIA/FFMIA compliance audit. Risk Assessments; Expertise in effectiveness of risk management and internal control, accounting principles and audit standards; Experience in wide variety of the financial and accounting reporting systems. Compliance to US Treasury OFAC, SAM’s and UN’s anti-terrorism and anti-money laundering requirement; nonprofit awards/grants; Results-driven Consultant with comprehensive experience leading and improving industry operations. Uniquely qualified to navigate rigors of latest standards, specifications and protocols for organizational and regulatory needs fulfillment. Lends complex roadmaps and calls-to-action to regularly achieve ambitious objectives. Continuous CPE hours complaint. Member of IIA. CIA license in process.

Overview

14
14
years of professional experience
1
1
Certification

Work History

Senior Consultant

Ernst & Young, LLP
McLean, VA
10.2022 - Current
  • Senior Consultant - Internal Control and Risk Assessment, A-123 compliance, Policy, and Regulatory Compliance; Fraud Risk & Forensic
  • Lead A-123 assessments, preparations of the parts of Agencies AFRs, and annual statements of assurance (ASOA). During the time serving in the EY DOT A-123 assessment teams continuously supported A-123 assessments for 11 DOT agencies
  • Conducted rigorous risk assessments to identify potential threats to organizational objectives and developed tailored risk management responses.
  • Developed risk and control matrices (RCM), coordinated & conducted business processes walkthroughs with the DOT officials.
  • Led in the controls’ design and operating effectiveness testing, ensuring the reliability of financial reporting, and safeguarding of assets for different DOT agencies and business processes; documented testing process and developed relevant testing conclusions.
  • Advised DOT clients on risk management strategies, emphasizing fraud risk, financial risk, and strategic operational risk.
  • Assessed the efficacy of existing control environments and provided recommendations to enhance internal control systems and reduce vulnerabilities.
  • Provided authoritative guidance to business process owners on internal control principles and best practices.
  • Developed and maintained documentation of internal control processes, including flowcharts, risk control matrices, and testing results.
  • Communicated results to the DOT process owners and EY senior management through the SADs and CAPs workbooks.
  • Developed DOT Fraud Risk Management policy.
  • Performed root cause analysis and corrective action plans (CAPs) development and execution to resolve associated non-compliances.
  • Supported the internal control reporting process, contributing to the accuracy and timeliness of information to stakeholders.
  • Collaborated with EY Financial Risk Field of Play and Business Development projects.
  • Supported performance/ shared knowledge/provided instructions to junior colleagues.
  • Performed various other duties as necessary to support the EY DOT team.
  • Business Development activities for DOT engagement, successful, still in use: 1. Lead the success story collection for an upcoming DOT RFP. 2. Assisted DOT NHTSA team with Proposal development, performed review and comparison to RFQ 3. Lead risk identification and assessment, and anticipated risk response for EY pursuits of opportunities with the US States Governments.

Financial Mgmt. Specialist - Internal Control and Risk Assessment

US Department of Labor
Washington, DC
09.2021 - 10.2022
  • Lead A-123 Appx C assessment for three federal programs including Unemployment Insurance account of $363 billion and $2 trillion of CARES Act’s Unemployment Insurance funds.
  • Supported the overall development, analysis, and implementation of DOL’s Agency-wide Internal Control Program to include policy and strategy development, planning, scheduling, assessment, and implementation of internal control requirements to provide reasonable assurance that the objectives of effective and efficient operations, reliable financial reporting, and compliance with applicable laws and regulations are achieved, and ensure the Agency’s integrity, efficiency, and effectiveness.
  • Developed and conducted communications with all levels of management unprecedented for the agency’s programs fraud risk assessment for Unemployment Insurance program.
  • Developed and completed unprecedented for agency’s Unemployment Insurance funds A-123 Fraud Risk Assessment for the pandemic funds under CARES Act (PUA, PEUC, MEUC, ARPA) that provided over $2 trillion of economic relief to workers & businesses.
  • Performed the risk assessment to identify inherent risks and developed risk appetite statements (including the risk of fraud) for every process of the assigned programs.
  • Implemented brand new methodology for A-123 assessment of the internal controls for the assigned government programs.
  • Developed and lead financial management projects to address Internal Control procedures that affect both financial and nonfinancial reporting that impact Agency programs and business processes, and the annual financial reporting.
  • Developed, and lead in the execution of the complex analytical projects to address both financial and nonfinancial matters that impact Agency programs and the operation of agency financial accounting systems.
  • Reviewed and evaluated the changes in the legislations and regulations (CARES Act and amendments such as ARPA, etc.) that impacted the agency’s program’s inherent risks and consequent changes in the internal control system & applications.
  • Reviews program offices business processes Narratives and SOPs, developed new policy’s templates, provided guidance & recommendations for developing new BNPs and SOPs, provided trainings, and accepted the completion of the newly developed documents.
  • Conducted kickoff meetings on the A-123 review with the POCs of the assigned program offices.
  • Developed and conducted training for the program offices agency wide.
  • Discusses with the programs management the development and documenting of the control objectives, activities in their relations/in response to the identified risks; provides guidance in development of such control objectives.
  • Conducts the meetings & walkthroughs with the assigned programs & divisions management to discuss the process of A-123.
  • Reviewed program’s Business process of the control activities documenting and provided recommendations.
  • Developed Risk & Controls Matrices that including Risk appetite statements, control definitions, processes’ controls activities, and the testing attributes, in continues collaborations with the programs’ officials.
  • Conducted tests of design (TOD) and tests of operating effectiveness (TOE) of the controls based on the risk assessment and documented the results.

Grants Audit Specialist

PAE for USAID
Washington, DC
07.2020 - 07.2021
  • Grants Audit Specialist - Internal Control and Risk Assessment, Policy, and Regulatory Compliance; Fraud Risk & Forensic; Pre-Award Survey.
  • To mitigate risks of awards, performed U.S. pre-award and post-award reviews and evaluations of the Agency for International Development’s (USAID), Bureau for Humanitarian Assistance (BHA)’ applications from U.S. and non-U.S. applicants & recipients.
  • Planned and performed pre-award surveys and follow-up on the global-wide NGOs’ specific conditions & recommendations on a required basis so that USAID/BHA can make a responsibility determination per ADS 303.
  • During the pre-award surveys conducted desk review assessed the applicant’s Internal Control, policies, procedure, and records, to determine the recipient’s financial sustainability performed its financial statements’ ratio analysis; tested the transactions against source documents, conducted recipient’s site visits and interviews, documented findings, and recommendations, completed the survey’s reports and communicated results to the recipients, BHA management and AO/AOR.
  • Processes improvement & optimizations: Reorganized Pre-Award Survey report template that increased report’s effectiveness, efficiency, improved the clarity, and enhanced its visual content.
  • Based on the USAID internal regulations, developed new efficient and effective templates that streamlined the Pre-Award Survey process, simplified the procedures for the Audit Unit and the applicants such as, Recipient’s documents’ request list, created effective and time-efficient templates of the Recipients’ Internal Control Questionnaire, Policy Outline template to provide a clear and sufficient guidance and help to the BHA’s applicants creating the policies & procedures compliant with USAID/ USG requirement and USG regulations.
  • Consistently communicated the questions, requirement, and guidance to the recipients.
  • Performed reviews of non-U.S. NGO contracted scopes of work (SOW) to ensure compliance to the USAID requirements, provided recommendations and guidance to BHA’s Partners.
  • Assisted non-U.S. based NGOs to get CFO approval for the selected audit firms worldwide.
  • Participated in developing new procedure for the audit environmental assessment and assessment of audit firms worldwide.
  • Reviewed the US and Non-US Recipients Contracted Audit of the Funds Accountability Statements reports for compliance with USAID ADS 591 requirements.
  • Conducted meetings, provided guidance and recommendations to the recipients and the audit firms worldwide to ensure the compliance.
  • Followed up with NGO/recipients on specific award conditions and corrective action plans.
  • Interfaced with the USAID audit branch on U.S. and non-U.S. NGO audit findings and Pre-Award Risk Assessment Determinations in accordance with ADS 303 and 2 CFR 200.
  • Tracked pre-award surveys and audit status of all USAID/BHA NGO partners.
  • Participated in development of the agency’s policies and guidelines, including UN WFP Consultation on Anti-Fraud and Anti-Corruption Policy.
  • Performed additional activities related to audit resolution, as required.

Senior Auditor

InfoGain for US DOC
McLean, VA
06.2019 - 07.2020
  • Performed US Department of Commerce OIG’s audit under the PIIA (IPIA, IPERA, IPERIA). Evaluated the Department’s performance in reducing and recapturing improper payments.
  • Performed analysis of Department’s processes related to payment integrity (considerations include improper payment mitigation efforts, A-123 Appx. C testing, root cause analysis, corrective action plans, collection and reporting of improper payment data) to determine of the Department progress in reducing improper payment amounts and recapturing payments identified as improper.
  • Obtained an understanding of the Department’s improper payments program and the related procedures and controls that are significant to improper payment identification, reporting, and recapturing, including the risk assessment process and implementation of requirements for programs susceptible to significant improper payments.
  • Reviewed the annual reports to OMB as well as the Senate Committee on Homeland Security and Governmental Affairs and the House Committee on Oversight and Government Reform describing the recommendations identified by the payment recapture auditor and agency corrective actions.
  • Identified and reviewed laws, regulations, and other guidance, as well as other criteria (such as Departmental policies and practices) significant to the determination of whether the Department complied with improper payment reporting requirements.
  • Also, reviewed prior OIG evaluation of Department’s compliance with improper payment requirements.
  • Performed technical analysis to determine whether the US Department of Commerce (DOC) complied with the criteria of PIIA, IPERA & IPERIA.
  • Conducted and documented interviews with Departmental officials to understand and clarify the Departmental processes related to improper payment compliance and to determine the processes related to the identification and reporting quantitative improper payment data in the AFR, including sources of information, collection/aggregation of bureau data, and reporting of data.
  • Conducted walkthrough with the Department’s personnel.
  • Developed checklists and used it to determine whether all improper payment reporting requirements (per OMB Circular A-136, etc.) are met, as well as whether the link to paymentaccuracy.gov is included.
  • Evaluated whether the Department conducts a program specific risk assessment for each program or activity that conforms with Section 3321 note of Title 31 U.S.C.
  • Used and documented analytical and research techniques to identify compliance.
  • Created written descriptions of improper payment compliance issues identified through analysis performed.
  • Identified areas for further improvement such as program of agency performance in reducing improper payments, corrective actions, or internal controls.
  • Assisted the audit team and participated in briefings, to identify improper payment compliance issues to both internal (OIG) and external stakeholders.
  • Evaluated the Department’s FY 2019 risk assessment process; Identified the statutorily mandated or OMB-designated programs/activities at risk for significant improper payments within FY 2019, or whether the Department received any waivers for reporting any such programs; determined the Department’s rationale and obtain supporting documentation for Department’s conclusions.
  • Evaluated Department’s statistical sampling process used to develop estimates (Data Analytics support as needed), including whether absolute value of improper payments was used in calculation and whether sampling results agree to information reported in AFR.
  • Determined if the corrective action plan (if any) includes all programs/activities at risk for significant improper payments, as well as whether root cause classification of improper payments is accurate, plans are robust and focused on true root causes, and plans are effectively implemented and actually reducing improper payments.
  • Reviewed OIG semiannual reports and other resources to determine if improper payment amounts (if any were identified) are correctly included data reported in the Department’s AFR.
  • Communicated the audit findings, and made recommendations (NFR).
  • Developed the audit report and schedules covering criteria, conclusions, and recommendation.

Audit Readiness Analyst

BLUMONT, Inc.
Arlington, VA
08.2018 - 07.2019
  • Audit Readiness Analyst.
  • Supported Audit in managing organization’s audits and other oversight activities at headquarters and providing the support to the field staff in the field-based audits.
  • Played one of key role in clearing nearly $9 mln of the costs questioned in result of Single Audit; Primary areas of responsibility include:
  • Creating/maintaining deliverables to monitor audits’ status; serving as an auditors’ point of contact within the organization.
  • Coordinated the organization’s communications to auditors with the relevant stakeholders.
  • Coordinating and managing the work of temporary audit staff (5-6 consultants) responding to the audit’s requests, such as instructions on responses to RFI’s, reviewing response’ working papers, assigned work, reviewed deliverables, monitoring performance.
  • Analyzing data and creating reports using tools such as Costpoint, SAP, Excel, and Access; creating process flows in Visio.
  • Responded to the Audit Reports and provided feedback and guidance to the external auditors for subcontracts worldwide.
  • Coordinating and managing the work of audit staff (5-6 consultants): Developing others by creating and supporting appropriate work assignments.
  • Providing coaching, staff training and feedback candidly and constructively.
  • Implemented new method of responding to the questioned costs that amplified effectiveness and efficiency.
  • Developed clear, concise, and effective template to respond to audit’ RFI’s that increased production and quality.
  • Reviewed the auditors’ responses to audit inquiries for completeness and accuracy.
  • Coordinated collection of audit documents and audit populations for timely submission to the various audit teams or escalate and resolve any issues that arise in the timely collection of audit requests.
  • Used professional judgment to assess the quality and completeness of audit documents provided to escalate and resolve issues prior to fieldwork.
  • Researched the legislation and regulation’ standards, and other supporting documents to prepare the responses to audit inquiries and findings and insured their timely submission.
  • Worked with the relevant stakeholders to assist with coordination of rebuttals and corrective action plans in response to draft and final audit reports and donor inquiries.
  • Briefed Management on the audit’s relevant issues and regulatory compliance.
  • Tracked the status of corrective actions made in response to audit reports and routinely update Internal Audit so that follow-up reviews can be scheduled.
  • Reviewed and confirmed the accuracy of any audit-related collection bills, prior to payment, based on knowledge of audit activities.
  • Utilized Deltek Cost Point and SAP systems to run reports, analyze data and research historical transactions.
  • Maintained an accurate audit schedule and status reports and provided the senior management team and other relevant stakeholders regular, periodic updates on audits’ status and findings.

Defense Contracts Auditor

DOD – DCAA (Defense Contract Auditing Agency)
McLean, VA
01.2012 - 08.2018
  • Defense Contracts Auditor.
  • Lead & completed the 25 billion revenue’s major DOD contractor Audits and other procedures: Incurred Costs Audits, FPRP, Termination Settlement, CASB Disclosure Statement Audits, Contract Closeout, Final Vouchers Evaluations and Post-Payment Public Vouchers Audit, Interim Public Vouchers Review and Approval; also created training materials;
  • Contract Costs Monitoring - South-West Asia: Iraq, Afghanistan & Kuwait Quarterly Cost Reports.
  • Performed risk assessments on wide variety of the audits. Identified internal control deficiencies and risks and documented their potential impact on audit and each significant cost element; documented and analyzed end-to-end processes.
  • Examined the Contract Closeout, Forward Pricing Rates proposals, Incurred Costs submissions, Disclosure Statements and Terminations settlements along with the supporting schedules submitted in electronic media.
  • Determined adequacy, reasonableness, allowability and compliance of the submitted costs; Questioned unallowable or unreasonable costs.
  • Collecting, analyzing, and summarizing audit data to support conclusions.
  • Examined contract closeout/final voucher. Reviewed Government contracts/modifications in the FFP, CFFP, CPIF, CPAF, T&M, etc., contracts in order to ensure proper closeout of orders/contracts; determine the contracts terms, conditions and its physical completions, and the contracting officer’ determination to use a FAR 42.708 to close the contracts.
  • Determined if the billed fee calculated in accordance with contract’ fee provisions; Followed up the deficiencies to the contractor and Contracting Officers.
  • Reviewed the contractor’s prepared adequacy checklist (DFARS 215.403-5(b)(3)), and the proposal package using the Forward Pricing Rate Proposal Adequacy Checklist Tool.
  • Coordinated audit issues with contractor and contracting officers; routinely communicated with the cognizant DCAA offices, DCMA (DACO, TCO, ACO, PCO officials) on the audit scope and the agreed-to date.
  • Performed regression trend analysis in the high-level trend analysis at the total indirect pool/base level using historical data to assess the risk of ineffective controls over forecasted pool/base costs and rates for relevant historical period.
  • Analyzed the corporate, intermediate home office and shared services allocations assigned to the pool and base costs; Tested reliability of historical data and identified significant variations/outliers, etc.
  • Examined proposed Indirect rates (CAS 401, 402, FAR 31.203(a)); Verified the accounting period (CAS 406/FAR 31.203(g)); Reconciled contractor pool, base, and rates; Evaluated reasonableness of escalation factors in pool expenses.
  • Tested and examined accounting systems and records, cost representations, internal controls, management policies and practices, to assure compliance with accounting and auditing principles, standards, and regulations as CAS, FAR, DFARS etc.
  • Prepared audit working papers, schedules, summaries, and reconciliations as well as traced the contractor records, ledgers, and reports against invoices, receipts, payroll slips and other source supporting documents.
  • Summarized work completed in the drafted Audit Reports, Memorandums for Records (MFR), concluding audits and evaluation procedures, and lead working papers in accordance with GAGAS and Agency policies and procedures; provide covering criteria, conclusions, and recommendations.
  • Entrance and exit conference briefings to present audit objectives and potential findings.

Education

Master's/MBA - Accounting & Audit

Strayer University
Washington, DC

BS - Business Administration

University of Saskatchewan
Syktyvkar, Canada

Master's degree - history & social study

Syktyvkar State University
Syktyvkar

Skills

  • AI - Copilot & EYO, Agentic and APP’s specific
  • Risk management
  • COSO Standards
  • COSO Enterprise Risk Management (ERM)
  • Fraud risk management
  • Financial reporting
  • Policy development
  • Process improvement
  • Team collaboration
  • Business development
  • Problem solving
  • Effective communication
  • Stakeholder engagement
  • Internal controls
  • Financial management
  • Accounting principles
  • Audit concepts
  • Audit principles
  • Audit standards
  • Internal Audit Standards
  • Audit Readiness
  • Financial statements audit
  • Government contracts & grants management
  • Grants management
  • GAAP compliance
  • PSAOB compliance
  • FASAB compliance
  • A-123 compliance
  • PIIA compliance
  • FMFIA compliance
  • FFMIA compliance
  • CAS knowledge
  • FAR knowledge
  • DFARS knowledge
  • OMB circulars compliance
  • 2CFR 200 compliance
  • US Treasury OFAC compliance
  • SAM compliance
  • UN anti-money laundering compliance
  • Financial systems
  • Accounting systems
  • Reporting systems
  • ERP knowledge
  • Client relationship management
  • Agile methodologies
  • Employee supervision
  • Enterprise resource planning
  • Trend analysis
  • Financial analysis
  • Internal control
  • Regulatory compliance
  • A-136 compliance
  • Result-oriented
  • Quality-focused
  • GAGAS compliance
  • Presentation skills
  • Compliance analysis

Certification

CIA certification, in process

Affiliations

Member of IIA, Institute of Internal Auditors

Training

  • DAWIA/DOD Financial Management Certification, Level 2 FM, 2015-12-31
  • Forensic Accounting and Fraud Examination Certificate, West Virginia University, 2021-01-01
  • Federal Contracts Management course, 2021-01-01
  • ORACLE Applications course, VA, USA, 2021-01-01
  • Oracle Database Administration course, VA, USA, 2021-01-01
  • SAP financial application courses, VA, USA, 2021-01-01
  • Tableau & BI data science, 2021-01-01
  • SQL/relational database certification, DOD, 2021-01-01
  • And more…

Timeline

Senior Consultant

Ernst & Young, LLP
10.2022 - Current

Financial Mgmt. Specialist - Internal Control and Risk Assessment

US Department of Labor
09.2021 - 10.2022

Grants Audit Specialist

PAE for USAID
07.2020 - 07.2021

Senior Auditor

InfoGain for US DOC
06.2019 - 07.2020

Audit Readiness Analyst

BLUMONT, Inc.
08.2018 - 07.2019

Defense Contracts Auditor

DOD – DCAA (Defense Contract Auditing Agency)
01.2012 - 08.2018

Master's/MBA - Accounting & Audit

Strayer University

BS - Business Administration

University of Saskatchewan

Master's degree - history & social study

Syktyvkar State University

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Rimma Loiko