Loren Data's SAM Daily™

fbodaily.com
Home Today's SAM Search Archives Numbered Notes CBD Archives Subscribe
FBO DAILY ISSUE OF OCTOBER 09, 2003 FBO #0681
SOLICITATION NOTICE

R -- Special Review of Fannie Mae Accounting Policies and Practices

Notice Date
10/7/2003
 
Notice Type
Solicitation Notice
 
Contracting Office
Office of Federal Housing Enterprise Oversight, Office of Finance and Administration, Procurement Office, 1700 G Street, NW, 4th Floor, Washington, DC, 20552
 
ZIP Code
20552
 
Solicitation Number
OFHEO2004-01-C
 
Point of Contact
Frances Sullivan, Contracting Officer, Phone 202-414-3761, Fax 202-414-8917, - Jill Weide, Operations and Special Programs Manager , Phone (202) 414-3813, Fax (202) 414-6513,
 
E-Mail Address
fsullivan@ofheo.gov, jweide@ofheo.gov
 
Description
OFHEO is seeking an accounting firm to assist in conducting a special examination of the Federal National Mortgage Association (Fannie Mae). The purpose of the examination is to identify weaknesses in accounting policies and internal controls with an emphasis on critical accounting policies and practices, unusual transactions and sensitive accounting estimates. Specific attention should be paid to: (1) policies and transactions that relate to the timing of income recognition; (2) policies and transactions that relate to derivative financial instruments and securitizations; (3) transactions that do not appear to have a valid business or risk management purpose; (4) transactions that have been executed without appropriate authorization; (5) process management uses to formulate sensitive accounting estimates; and (6) estimates, judgments and uncertainties and how they are determined and subsequently monitored. The accounting firm will assist in the planning, of the investigation, conducting or assisting in interviews, preparation of interim reports and assist in the preparation of the final report. They will also assist in document control, including overseeing the scanning of documents, indexing and organizing the documents. OFHEO does not know the actual level of effort that will be required. That will be determined by the initial review (Phase I) of accounting policies and internal controls. Phase II would be comprehensive study of the questionable policies and transactions discovered in Phase I. The accounting firm will furnish all necessary personnel, materials, equipment, services and facilities to perform the work. Skills/abilities required: Experience with Fortune 500 financial service companies Demonstrated ability to work with: (1) complex derivatives instruments (FAS 133); (2) valuation and hedging activities; (3) securitizations transactions (FAS 140); (4) credit and reserve methodologies; and (5) retained interest valuation issues.
 
Place of Performance
Address: 1700 G Street NW, Washington, DC
Zip Code: 20552
Country: USA
 
Record
SN00449106-W 20031009/031007213255 (fbodaily.com)
 
Source
FedBizOpps.gov Link to This Notice
(may not be valid after Archive Date)

FSG Index  |  This Issue's Index  |  Today's FBO Daily Index Page |
ECGrid: EDI VAN Interconnect ECGridOS: EDI Web Services Interconnect API Government Data Publications CBDDisk Subscribers
 Privacy Policy  Jenny in Wanderland!  © 1994-2024, Loren Data Corp.