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KPMG reports process gains; hospital officials report improved payables and one-time Metro funding in FY25 update
Summary
KPMG presented results of a recent accounting advisory engagement, and hospital financial leaders reported reduced accounts payable, implementation of new revenue tools and receipt of unbudgeted Metro funds during an FY25 audit update and financial review.
KPMG told the Hospital Authority Board that process improvements implemented during a recent engagement have reduced accounting backlog and strengthened financial reporting controls, and hospital finance leaders reported improved cash performance and receipt of unbudgeted Metro funding in their FY25 audit update.
Hillary Simic, a partner with KPMG, and Chris Dixon, director at KPMG, presented findings from a multi-month engagement that assessed accounting processes and recommended new policies, procedures and reconciliation tools. Simic said the work focused on "improving the financial reporting process and creating sustainable practices within the accounting and finance department." Dixon said the team identified symptomatic problems and implemented tools and reconciliations across roughly 90…
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