Ernst & Young LLP was awarded two contracts by the Defense Finance and Accounting Service with a combined maximum potential value of approximately $869.4 million for financial statement audit services covering major U.S. military funds.
The larger award is a labor-hour contract with a maximum value of $455.43 million for financial statement audit services supporting the Department of War Office of Inspector General.
Under that contract, Ernst & Young will perform audits of the Navy General Fund, Marine Corps General Fund, and Department of Navy Working Capital Fund for fiscal years 2027 through 2031.
The work will be performed primarily in Tysons, Virginia, along with additional locations inside and outside the continental United States.
The contract includes a one-year base period and four individual one-year option periods, with an expected completion date of December 31, 2031.
Subject to the availability of funding, approximately $96.53 million in fiscal 2027 operations and maintenance funds is expected to be obligated before performance begins.
The award resulted from a competitive acquisition in which the government received one quote.
The Defense Finance and Accounting Service Contract Services Directorate in Columbus, Ohio, is the contracting activity.
Separately, Ernst & Young was awarded a second labor-hour contract with a maximum value of $413.95 million for audit services covering the Department of the Air Force General Fund and Working Capital Fund financial statements.
Work under the Air Force contract will be performed in McLean, Virginia.
The contract has a 12-month base period plus four individual one-year option periods.
The government listed an expected completion date of December 31, 2027 for the award.
Subject to funding availability, approximately $58.78 million in fiscal 2027 Air Force operations and maintenance funding will be obligated.
That contract also resulted from a competitive acquisition in which one quote was received.
Combined, the two awards provide Ernst & Young with potential contract value of approximately $869.38 million.
The engagements cover financial statement auditing across the Navy, Marine Corps, Department of Navy Working Capital Fund, and Air Force, expanding Ernst & Young’s role in supporting financial oversight across major U.S. defense organizations.
