Federal Accounting Standards Advisory Board
Washington, DC
Agency facts
- Acronym
-
- FASAB
- Office code
- 05FASB
- Organization
-
-
Parent
- FASAB
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Parent
- Contract obligations
- $53 In FY2025
- Address
- Suite 1155, Washington, DC 20548, United States
- Website
- fasab.gov
Agency codes and contract spending come from SAM.gov/FPDS.
Contract obligations by fiscal year
| Fiscal year | Obligated |
|---|---|
| FY2027 To date | $0 |
| FY2026 | -$7,368 |
| FY2025 | $53 |
| FY2024 | $31,389 |
| FY2023 | $25,569 |
Contracting staff
| Rank | Person | SAM.gov records, last 2 years |
|---|---|---|
| 1 | John R. Lambert | 4 |
About this agency
The Government Accountability Office Federal Accounting Standards Advisory Board is a civilian advisory body that transacts through a limited contract portfolio focused on specialized reporting and documentation services. The Board has awarded ten contracts cumulatively since 2016, with seven awards over the past five years spanning 2021 through 2026. Annual volume has been sporadic: two awards in 2021, one in 2023, three in 2024, one in 2025, and one year-to-date in 2026. Combined potential contract value stands at $81 thousand, with $67 thousand obligated.
Heritage Reporting Corporation dominates the competitive landscape, holding five of seven recent awards and $8 thousand in combined potential value. Free State Reporting, Inc. and Neal R. Gross And Company, Inc. each hold one award; a fourth distinct prime contractor appears in the portfolio but has not transacted recently. The top-five competitive concentration is highly fragmented by potential-value coverage, at 15 percent of combined recent contract value. Two of the seven recent awards carry no reported potential value, consistent with Schedule task orders or modifications; the remainder are conventional procurements in the low-dollar range.
Set-aside activity favors small business: 70 percent of awards carry total small-business designations, while 20 percent are unrestricted. No recent contract opportunities are recorded against the Board. The contract portfolio reflects the Board's narrow functional remit and the advisory rather than operational nature of its work.
Description
The FASAB serves the public interest by improving federal financial reporting through issuing federal financial accounting standards and providing guidance after considering the needs of external and internal users of federal financial information.
Quick answers
What is Federal Accounting Standards Advisory Board?
Federal Accounting Standards Advisory Board (FASAB) is part of GAO Except Comptroller General, Government Accountability Office.
How much does Federal Accounting Standards Advisory Board spend on contracts?
Contracts funded by Federal Accounting Standards Advisory Board and its offices obligated $53 in fiscal year 2025 and $49,643 in fiscal years 2023 through 2027.
On GovTribe
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