FCC Mandatory Audits Contract Awarded to Kearney & Company for $7.2M
Contract Overview
Contract Amount: $7,202,891 ($7.2M)
Contractor: Kearney & Company, P.C.
Awarding Agency: Department of the Interior
Start Date: 2021-03-10
End Date: 2026-03-09
Contract Duration: 1,825 days
Daily Burn Rate: $3.9K/day
Competition Type: FULL AND OPEN COMPETITION
Number of Offers Received: 4
Pricing Type: FIRM FIXED PRICE
Sector: Other
Official Description: FCC MANDATORY AUDITS
Place of Performance
Location: ALEXANDRIA, ALEXANDRIA CITY County, VIRGINIA, 22314
State: Virginia Government Spending
Plain-Language Summary
Department of the Interior obligated $7.2 million to KEARNEY & COMPANY, P.C. for work described as: FCC MANDATORY AUDITS Key points: 1. Contract awarded to a single firm, Kearney & Company, for mandatory audits. 2. The contract spans five years, indicating a long-term need for audit services. 3. The award value is $7.2 million, representing a significant investment in compliance. 4. The sector is professional services, specifically accounting and auditing. 5. The contract is for 'Offices of Certified Public Accountants'.
Value Assessment
Rating: fair
The contract value of $7.2 million over five years suggests an average annual cost of $1.44 million. Benchmarking against similar government audit contracts requires more specific service details, but this appears to be within a reasonable range for comprehensive mandatory audits.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded under full and open competition, indicating that multiple vendors had the opportunity to bid. This method generally promotes competitive pricing and ensures the government receives best value.
Taxpayer Impact: Taxpayer funds are being used for mandatory audits to ensure compliance and financial integrity within the FCC, which is a necessary function for government accountability.
Public Impact
Ensures financial accountability and compliance for the FCC. Supports regulatory oversight by providing independent audit services. The contract value contributes to the professional services sector.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Lack of specific performance metrics in the provided data.
- Potential for cost overruns if audit scope expands unexpectedly.
Positive Signals
- Awarded through full and open competition.
- Long-term contract provides stability for audit services.
- Firm fixed price contract limits cost uncertainty.
Sector Analysis
This contract falls within the professional, scientific, and technical services sector, specifically accounting and auditing services. Government spending in this area is crucial for regulatory compliance and financial oversight. Benchmarks for similar contracts vary widely based on scope and duration.
Small Business Impact
The contract was awarded to Kearney & Company, P.C., a certified public accounting firm. There is no indication in the provided data that small businesses were involved as subcontractors or prime contractors.
Oversight & Accountability
The contract is subject to standard government oversight for delivery orders under a larger contract. The Department of the Interior is the agency overseeing this award, ensuring compliance with federal procurement regulations.
Related Government Programs
- Offices of Certified Public Accountants
- Department of the Interior Contracting
- Departmental Offices Programs
Risk Flags
- Potential for scope creep impacting cost.
- Reliance on a single firm for critical audit functions.
- Limited visibility into specific audit deliverables and success metrics.
- No explicit mention of small business participation.
Tags
offices-of-certified-public-accountants, department-of-the-interior, va, delivery-order, 1m-plus
Frequently Asked Questions
What is this federal contract paying for?
Department of the Interior awarded $7.2 million to KEARNEY & COMPANY, P.C.. FCC MANDATORY AUDITS
Who is the contractor on this award?
The obligated recipient is KEARNEY & COMPANY, P.C..
Which agency awarded this contract?
Awarding agency: Department of the Interior (Departmental Offices).
What is the total obligated amount?
The obligated amount is $7.2 million.
What is the period of performance?
Start: 2021-03-10. End: 2026-03-09.
What specific audit standards and scope are mandated for the FCC, and how do they compare to industry norms?
The specific audit standards and scope are dictated by federal regulations and FCC requirements for mandatory audits. These typically include financial statement audits, compliance audits, and potentially performance audits. Comparing these to industry norms requires detailed knowledge of the FCC's regulatory framework and the specific audit objectives outlined in the contract's statement of work.
What is the historical performance of Kearney & Company on similar government contracts, and what is their track record for cost control?
Assessing Kearney & Company's historical performance requires accessing past performance reviews and contract data. Factors to consider include on-time delivery, quality of work, and adherence to budget. Their track record for cost control would be evaluated based on whether they consistently delivered services within the agreed-upon firm fixed price without significant change orders or cost overruns.
How effectively does this contract ensure the FCC's adherence to financial regulations and prevent potential fraud or mismanagement?
The effectiveness of this contract in ensuring FCC's adherence to financial regulations and preventing fraud hinges on the thoroughness and independence of the audits performed by Kearney & Company. Regular reporting, clear audit findings, and timely corrective action plans are crucial. The 'full and open competition' aspect suggests a competitive selection process aimed at securing high-quality audit services.
Industry Classification
NAICS: Professional, Scientific, and Technical Services › Accounting, Tax Preparation, Bookkeeping, and Payroll Services › Offices of Certified Public Accountants
Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › MANAGEMENT SUPPORT SERVICES
Competition & Pricing
Extent Competed: FULL AND OPEN COMPETITION
Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY
Solicitation ID: 140D0421Q0132
Offers Received: 4
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Parent Company: E.F. Kearney, Limited
Address: 1701 DUKE ST STE 500, ALEXANDRIA, VA, 22314
Business Categories: Category Business, Corporate Entity Not Tax Exempt, Not Designated a Small Business, Special Designations, U.S.-Owned Business
Financial Breakdown
Contract Ceiling: $7,202,891
Exercised Options: $7,202,891
Current Obligation: $7,202,891
Actual Outlays: $7,202,891
Subaward Activity
Number of Subawards: 8
Total Subaward Amount: $3,110,622
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES
Parent Contract
Parent Award PIID: GS00F031DA
IDV Type: FSS
Timeline
Start Date: 2021-03-10
Current End Date: 2026-03-09
Potential End Date: 2026-03-09 00:00:00
Last Modified: 2026-04-07
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