Mid-tier audit firms are circling to capture expiring KPMG contracts worth nearly $200 million amid the firm's ban from bidding for new federal contracts. However, a current loophole in the fine print may hinder those opportunities.
KPMG agreed not to bid for federal contracts between June 16 and September 30, 2026, but the Finance Department's directive excluded existing arrangements from the suspension. It meant current contracts can be amended and extended if the contract has an extension option.
During the period of the ban, a total of 267 KPMG contracts are scheduled to reach their completion dates.
