Public Company Accounting Intelligence

Added: Mar 16, 2009 3:52 pm The following are answers to questions received prior to the 1:00pm Eastern on March 12, 2009 deadline for questions:



Question 14: Given the very short response time and the need for Q&A turnaround, can the SEC offer an extension to the submission deadline?

Answer 14: The SEC is looking for an available commercial product/service that will meet the requirement. Therefore, the submission date will not be extended.



Question 15: Please elaborate on whether and to what extent industry-specific accounting experts would be necessary to accomplish the Governments accounting fraud risk-rating standard.

Answer 15: The SEC is looking for an available commercial product/service that will meet the requirement. It is up to the Contractor to determine how to fulfill the requirement.



Question 16: The requirements call for a web-based service interface with initial access for 80 users. Please describe the tracking application requirements to the extent possible.

Beyond searching and filtering by company name, date, and industry sector to view comparative risk ratings, for example, what capabilities would users require?

Answer 16: The minimum requirements were stated in the RFQ.



Question 17: Would certain roles have the need to attach comments, add private notes, research, etc.?

Answer 17: The minimum requirements were stated in the RFQ.



Question 18: Would the service need certain security and encryption standards? Could the service be hosted externally? If not, please describe the acceptable technology standards.

Answer 18: The SEC expects the service to be hosted externally.



Question 19: Would the database/service optimally exchange data with other data sources such as EDGAR and/or the IDEA system (via XBLR) for analysis? With what latency standard (e.g. real-time, daily, or weekly)?

Answer 19: The exchange of data with other data sources is not a requirement.



Question 20: Is the analysis scope limited to public SEC filing information? Will the envisioned service authorize/require the contractor to utilize any supplemental financial or accounting information requested by the SEC from the company as it relates to public filings already made?

Answer 20: It is up to the Contractor to determine what data sources will fulfill the requirement. There is no requirement for the Contractor to incorporate any supplemental information requested by the SEC from the company.



Question 21: What is the Governments envisioned timeline for risk-rating service delivery (e.g. production implementation) for the described web-interface? Please confirm our assumption that any contractor currently or prospectively engaged with firms in the target segment (more than $200 million market capitalization) as an auditor would be conflicted out of this initiative.

Answer 21: This is a request for a quote for a product that is commercially available now.

Added: Mar 12, 2009 3:05 pm The following questions have been asked and the answers are provided below:



Question 1: We have been working to establish our Central Contractor Registration (CCR). There have been some technical delays associated with the registration. Is it possible for us to submit our quote without the CCR?

Answer 1: Quoters must be able to show that they have made an attempt to register at CCR, http://www.ccr.gov. You can submit an email, a copy or screenshot of the CCR page, etc. to show your attempt to comply with the requirements of the solicitation.



Question 2: Does my firm need to have a GSA Schedule in order to submit a quote?

Answer 2: No, you do not need to have a GSA Schedule to respond to the request for quote. All vendors are encouraged to submit a response.



Question 3: Are electronic submissions acceptable?

Answer 3. Yes, electronic submissions are acceptable. If the quotes are delivered by email, they must be followed by one (1) signed hardcopy original of each quote within four (4) business days of the closing date (see RFQ Instructions, Conditions, and Notices to Quoters).



Question 4: Which Division(s) and/or Offices at the SEC is requesting this RFP? Will the access be shared across multiple Divisions/Offices? Division of Enforcement, Corporate Finance, etc...?

Answer 4: Access for service obtained as a result of this request for quote would be for any SEC staff member in any SEC office or location who needed the service.



Question 5: What are the historical requirements for the accounting and compliance issues (for example tracking 3 to 5 years of historical disclosure information for trending purposes)?

Answer 5: There is no explicit requirement for a specific time period to be considered for trending purposes.



Question 6: Is the SEC looking for the vendor to provide an off the shelf web based service or a custom application of their service, or a combination of both? Is the SEC expecting custom development services to be included in the quote?

Answer 6: The SEC is looking for an available commercial product that will meet the requirement.



Question 7: Does the SEC expecting training and support services to be quoted as a separate item/deliverable?

Answer 7: Standard training and support should be included in the price quotation for the service, not as a separate item. If advanced training and support is available , please price it separately.



Question 8: Has the SEC developed a model to identify "entities with operational weaknesses and higher risk of financial statements fraud," through the "key risk" indicators cited, or would the Contractor be required to develop such a model?

Answer 8: The SEC has not developed a model to identify "entities with operational weaknesses and higher risk of financial statements fraud." It is up to the quoter to determine how to fulfill the requirement.



Question 9: If a model is to be developed by the Contractor, would the model require approval of SEC staff prior to system implementation?

Answer 9: The SEC is looking looking for an available commercial product that will meet the requirement. Therefore, we do not anticipate that a model will be developed by the contractor as a result of this solicitation.



Question 10: Does SEC expect that the service will produce automated reports only, or will subjective analyses by trained analysts be required? If trained analysts are required, what are the professional qualifications expected of such analysts (eg, CFA, CPA, etc.)?

Answer 10: The requirement is for expert research reports, developed from analysis of public company financial information. These reports are to be made available via a web interface and email alerts.



Question 11: Given the complexities of such an assignment both from a methodology and technology perspective, will SEC consider extending the date for which Quotes are due for 30 days?

Answer 11: The SEC is looking for an available commercial product that will meet the requirement. Therefore, the response date will not be extended.



Question 12: Given the complexities of building the methodology for such a service, will SEC consider modifying the RFQ to make completion of such tasks, Time and Materials, rather than Firm Fixed Price?

Answer 12: The SEC is looking for an available commercial product that will meet the requirement. Therefore, the contract will be awarded on a Firm Fixed Price basis.



Question 13: Will questions be accepted after 1:00pm Eastern on March 12, 2009.

Answer 13: Questions submitted after 1:00pm Eastern on March 12, 2009 will not be answered.

Added: Mar 10, 2009 10:21 am (i) This is a Combined Synopsis/Solicitation for a commercial item prepared in accordance with the format in Subpart 12.6 of the Federal Acquisition Regulation (FAR), as supplemented with additional information included in this notice. This announcement and its attachment constitute the only solicitation. Quotes are being requested and a written solicitation will not be issued. This combined synopsis/solicitation will result in a firm fixed price commercial purchase order for a review of the U.S. Securities and Exchange Commission (SEC) Inspections and Examinations. Simplified procurement procedures will be used per Federal Acquisition Regulation (FAR) Part 13.



(ii) This combined synopsis/solicitation request for quote, RFQ SECHQ1-09-Q-0128, is issued as full and open competition.



(iii) The solicitation document and incorporated provisions and clauses are those in effect through Federal Acquisition Circular 05-27. Provisions and clauses incorporated by reference have the same force and effect as if they were given in full text.



(iv) The procurement is unrestricted.



(v) This combined synopsis/solicitation is firm fixed price. There are no line items separately listed in the solicitation. Quoter shall quote a firm-fixed price for the service that analyzes U.S. public company financial information to identify entities with operational weaknesses and higher risk of financial statements fraud in accordance with the Statement of Work in RFQ SECHQ1-09-Q-0149. The Government may award a contract resulting from this solicitation to the responsible quoter(s) whose quote conforms to the solicitation and is advantageous to the Government, price and other factors considered.



(vi) The solicitation is for service that analyzes U.S. public company financial information to identify entities with operational weaknesses and higher risk of financial statements fraud.



(vii) Deliverables and acceptance of deliverables will be FOB destination in accordance with the specifications in the solicitation. The estimated period of performance shall be April 1, 2009 through March 31, 2010 with 4 option years.



(viii) Instructions to quoters are located in Section L of the solicitation document. The FAR provisions and clauses are attached and those incorporated by reference can be found in full text at http://www.arnet.gov/far.



(ix) The Government anticipates awarding a contract to the Quoter(s) whose Quote represents the best value to the Government, price and other factors considered. Evaluation factors are located in Section M of the solicitation document.



(x) Representation and Certification information is located in Section H of the solicitation document.



(xi) FAR 52.212-4, Contract Terms and Conditions - Commercial Items, applies to this acquisition.



(xii) FAR 52.212-5, Contract Terms and Conditions Required to Implement Statutes or Executive Orders-Commercial Items, applies to this acquisition.



(xiii) Not applicable.



(xiv) The Defense Priorities and Allocations System (DPAS) is not applicable to this solicitation.



(xv) No Numbered Notes are applicable to this requirement.



(xvi) Quotes are due Wednesday, March 18, 2009 by 2:30 p.m. Eastern Time. All quotes must be signed. Quotes may be faxed to (703) 914-1005, Attn: Nancy Foster, with signed original forwarded by mail to: U.S. Securities and Exchange Commission, Office of Acquisitions, Mail Stop 0-20,6432 General Green Way, Alexandria, VA 22312, Attn: Nancy Foster. Signed and scanned quotes may be emailed to FosterN@sec.gov.



A complete quote will consist of: (1) Completed and signed (blocks 11, 14 - 18) Request for Quote (cover page), (2) Business Quote to include a copy of the Quoters Central Contract Registration (http://www.ccr.gov) and Representations and Certifications from ORCA (http://www.bpn.gov/orca), and (3) Technical Quote.



All questions concerning SECHQ1-09-Q-0149 shall be submitted in writing to Nancy Foster at FosterN@sec.gov and Wanda Armwood at ArmwoodW@sec.gov, no later than 1:00 p.m. local time (Eastern) on Thursday, March 12, 2009. Questions will not be answered orally. E-mail submission of question(s) is required.