SBA's $18.5M Financial Audit Services Contract Awarded to Ahmad Associates, Limited
Contract Overview
Contract Amount: $18,524,538 ($18.5M)
Contractor: Ahmad Associates, Limited, a Professional Corporation
Awarding Agency: Small Business Administration
Start Date: 2004-01-07
End Date: 2009-09-30
Contract Duration: 2,093 days
Daily Burn Rate: $8.9K/day
Competition Type: COMPETED UNDER SAP
Number of Offers Received: 3
Pricing Type: FIRM FIXED PRICE
Sector: Other
Official Description: FINANCIAL AUDIT SERVICES
Place of Performance
Location: VIENNA, FAIRFAX County, VIRGINIA, 22182
State: Virginia Government Spending
Plain-Language Summary
Small Business Administration obligated $18.5 million to AHMAD ASSOCIATES, LIMITED, A PROFESSIONAL CORPORATION for work described as: FINANCIAL AUDIT SERVICES Key points: 1. Contract awarded for financial audit services, totaling $18.5 million. 2. Competition method was 'COMPETED UNDER SAP', suggesting a competitive process. 3. The contract duration is 2093 days, indicating a long-term engagement. 4. The awarding agency is the Small Business Administration. 5. The North American Industry Classification System (NAICS) code is 541211 (Offices of Certified Public Accountants).
Value Assessment
Rating: good
The contract value of $18.5M for financial audit services appears reasonable given the 5-year duration. Benchmarking against similar contracts for CPA services would provide a more precise assessment.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was competed under SAP (Simplified Acquisition Procedures), indicating a competitive process for awards below certain thresholds. This method generally promotes price discovery and fair market value.
Taxpayer Impact: The competitive nature of the award suggests taxpayers likely received fair value for the financial audit services rendered.
Public Impact
Ensures financial integrity and accountability within the Small Business Administration. Supports the SBA's mission by providing essential accounting and auditing functions. The long-term nature of the contract provides stability for service delivery. Services are crucial for regulatory compliance and public trust.
Waste & Efficiency Indicators
Waste Risk Score: 88 / 10
Warning Flags
- Contract duration is quite long (2093 days).
- No specific small business set-aside mentioned, though the contractor is a professional corporation.
Positive Signals
- Competed under SAP indicates a competitive process.
- Firm Fixed Price contract type helps control costs.
- Awarding agency is a key federal entity.
Sector Analysis
The sector is professional services, specifically accounting and auditing. Spending in this sector is driven by regulatory requirements and the need for financial oversight across government agencies.
Small Business Impact
While the contract was competed under SAP, it is not explicitly stated as a small business set-aside. The contractor is identified as 'AHMAD ASSOCIATES, LIMITED, A PROFESSIONAL CORPORATION', which may or may not qualify as a small business depending on its size standards.
Oversight & Accountability
The Small Business Administration acted as both the awarding and servicing agency, suggesting direct oversight. The 'COMPETED UNDER SAP' designation implies adherence to procurement regulations for competitive bidding.
Related Government Programs
- Offices of Certified Public Accountants
- Small Business Administration Contracting
- Small Business Administration Programs
Risk Flags
- Long contract duration may lead to outdated practices or increased costs.
- Lack of explicit small business set-aside information.
- Potential for vendor lock-in due to extended contract term.
- Need for ongoing performance monitoring to ensure continued value.
Tags
offices-of-certified-public-accountants, small-business-administration, va, po, 10m-plus
Frequently Asked Questions
What is this federal contract paying for?
Small Business Administration awarded $18.5 million to AHMAD ASSOCIATES, LIMITED, A PROFESSIONAL CORPORATION. FINANCIAL AUDIT SERVICES
Who is the contractor on this award?
The obligated recipient is AHMAD ASSOCIATES, LIMITED, A PROFESSIONAL CORPORATION.
Which agency awarded this contract?
Awarding agency: Small Business Administration (Small Business Administration).
What is the total obligated amount?
The obligated amount is $18.5 million.
What is the period of performance?
Start: 2004-01-07. End: 2009-09-30.
What was the specific value proposition for selecting Ahmad Associates, Limited over other potential bidders?
The data indicates the contract was 'COMPETED UNDER SAP', suggesting a competitive bidding process. While specific evaluation criteria are not provided, Ahmad Associates, Limited likely offered the best value based on factors such as price, technical qualifications, and past performance, as determined by the Small Business Administration during the procurement.
Are there any identified risks associated with the long duration of this contract?
A contract duration of 2093 days (nearly 6 years) presents potential risks including the possibility of outdated service methodologies, increased costs due to inflation or changing regulatory landscapes, and reduced flexibility for the agency to adapt to evolving audit needs or seek potentially better-qualified vendors.
How effectively did the 'COMPETED UNDER SAP' procurement method ensure optimal value for taxpayer dollars?
Competing under SAP generally promotes price discovery and competition among eligible vendors. For this $18.5M contract, it suggests that the SBA sought multiple bids, leading to a price that was likely competitive and represented good value. However, the specific savings or efficiencies achieved compared to other procurement methods are not detailed.
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: COMPETED UNDER SAP
Solicitation Procedures: SIMPLIFIED ACQUISITION
Offers Received: 3
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Address: SUITE #210, VIENNA, VA, 11
Business Categories: Category Business, Minority Owned Business, Small Business, Indian (Subcontinent) American Owned Business
Financial Breakdown
Contract Ceiling: $55,128,886
Exercised Options: $55,128,886
Current Obligation: $18,524,538
Timeline
Start Date: 2004-01-07
Current End Date: 2009-09-30
Potential End Date: 2009-09-30 00:00:00
Last Modified: 2009-11-13
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