DOC PPMB - Finance Audit & Accounting Services - MRAS

The General Services Administration (GSA) is conducting market research on behalf of the Department of Commerce (DOC) to support the Personal Property Management Branch (PPMB). The DOC aims to enhance its financial reporting, internal controls, and audit support for personal property management. This initiative is crucial for ensuring that all capitalized personal property complies with applicable accounting standards and internal policies. By engaging in this effort, the DOC seeks to maintain robust financial practices and mitigate any potential issues that could affect financial reporting or lead to audit findings.

The scope of work for this contract involves a comprehensive review and analysis of capitalized personal property files within the Sunflower Asset Management System. The contractor will be responsible for preparing and reviewing audit files for personal property items with an acquisition value greater than $200,000. These items could include assets constructed, purchased, transferred from other government agencies, or donated to NOAA. The contractor is expected to examine approximately 150-300 such files acquired during the fiscal year.

In addition to file review, the contractor will assess documentation related to capitalized deletions and provide necessary feedback. They will also evaluate incomplete or inaccurate asset files by examining details such as acquisition dates, costs, useful life estimations, and various coding attributes. The contractor will work closely with property custodians and relevant offices to correct any discrepancies in supporting documentation.

Furthermore, the contractor must analyze all additions and adjustments of capitalized assets through the Unreconciled Payments Report (UPR). This includes communicating any identified issues clearly to appropriate staff members. A monthly trend analysis of capitalized personal property activity is required for each Line Office to identify potential risks affecting financial reporting or triggering audit findings. These results must be compiled into reports submitted timely as part of ongoing status meetings.