Department of Education Awarded a Contract to KPMG LLP for $10,573,235.02

Summary of Award

The US federal government awarded a contract to KPMG LLP for financial statement audits and other professional accounting and auditing services for the Office of Inspector General (OIG). The contract, with a total obligation of $6,648,721.32, was signed on January 31, 2023. The contract falls under the category of delivery order and is part of the General Services Administration's Federal Acquisition Service.

The contract includes a list of transactions related to the award, with a total account outlay of $3,771,311.55 and total account obligation of $6,648,721.32. The contract also includes a subaward count of 1, with a total subaward amount of $500,000. The base exercised options amount to $6,648,721.32, while the base and all options amount to $10,573,235.02.

The recipient of the contract, KPMG LLP, is a U.S.-owned business located in McLean, Virginia. They offer services in the category of business, not designated as a small business, partnership or limited liability partnership, and special designations. KPMG LLP specializes in offices of certified public accountants and provides support in management auditing. The contract period of performance is from February 1, 2023, to December 14, 2025, with a potential end date of December 14, 2027. The contract was awarded by the Department of Education's Office of Finance and Operations, with the contracting and acquisitions management handled by the same department. The contract was solicited through multiple award fair opportunity procedures, with full and open competition. The product or service code for the contract is R704, under the NAICS code 541211 for offices of certified public accountants. The contract is a firm-fixed-price type of contract pricing, with no preference used in evaluation. Overall, the contract between the US federal government and KPMG LLP for financial statement audits and professional accounting and auditing services for the OIG is a significant agreement with a substantial financial obligation. KPMG LLP, as the recipient, is a reputable U.S.-owned business specializing in certified public accounting services, and the contract is expected to be carried out over a multi-year period with a focus on delivering high-quality financial auditing services.