1. Establish a Dedicated Compliance Team: We plan to create a small team responsible for overseeing financial and compliance requirements to ensure that deadlines are met.
2. Develop Internal Timelines: We will implement a timeline aligned with federal submission requirements that provides ample time for audit completion and review processes. This will include setting preliminary deadlines well in advance of the federal requirement.
3. Improve Communication with Auditors: We will engage in regular check-ins with our external auditors to monitor progress and identify any potential roadblocks that could lead to delays.
4. Training for Staff: We will provide training for existing staff to enhance their understanding of federal compliance obligations, which will help in maintaining rigorous oversight of financial deadlines.
5. Regular Monitoring and Reporting: We will create a process for regular monitoring and reporting of compliance status to management to ensure that we remain on track with all submissions.