News Column

Special Notice - Online Audit Confirmation Solution

June 25, 2014

Notice Type: Special Notice

Posted Date: 24-JUN-14

Office Address: Securities and Exchange Commission; Office of Acquisitions; 100 F Street, NEMS-4010 Washington DC 20549

Subject: Online Audit Confirmation Solution

Classification Code: D - Information technology services, including telecommunications services

Solicitation Number: SECHQ1-14-Q-0126

Contact: Nicholas Chung, Email

Description: Securities and Exchange Commission

Office of Acquisitions

Office of Acquisitions

PLEASE READ THIS NOTICE CAREFULLY AS IT CONSTITUTES THE ONLY NOTICE THAT WILL BE PUBLISHED. The U.S. Securities and Exchange Commission (SEC) intends to negotiate a one-time sole source contract with Capital Confirmation, Inc., 214 Centerview Drive, Suite 265, Brentwood, TN 37027. The Government intends to negotiate with only one source under the authority of FAR 6.302-1. The SEC requires asset verification services in conducting its work for the National Examination Program (NEP). The service provided by Capital Confirmation, Inc. allows users to electronically confirm account balances and assets with a third party that is independent of the audited entity. The service streamlines confirmation workflow, centralizes responses and archives confirmations electronically. It also provides numerous features including user types and privileges, management reporting and automated confirmation routing to manage audit confirmation requests more efficiently. This service provider processes more than 40 types of account confirmations, and has the capability to request multiple bank accounts of several clients at a single institution. Capital Confirmation, Inc. provides the only tool with the primary capability of fulfilling the confirmation function of public audits using an established network of bank respondents, which the closest possible equivalent to the Asset Verification function of the NEP. Capital Confirmation, Inc. stores audit client and bank data on its systems, allowing users to "reprise" requests to common entities. Further, the service maintains an established network of verified and authorized respondents at financial institutions, reducing bottlenecks that occur when relying on registrants to provide authorized points of contact. This notice of intent is not a request for proposals; however, all responsible sources may submit a capability statement, proposal, or quotation by the response deadline in this notice, which shall be considered by the agency.


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