PWC, E&Y Land TARP Accounts

The U.S. Treasury Department continued setting up its Troubled Asset Relief Program (TARP) yesterday by hiring PricewaterhouseCoopers and Ernst & Young to handle its accounting and internal controls.

TARP will administer the troubled assets Uncle Sam is purchasing, including whole mortgage loans and mortgage-backed securities.

PwC will be paid $191,469.27 to set up TARP's internal controls. E&Y, meanwhile, was the winning bidder at $492,006.95 for general accounting support and advice. Treasury asked a dozen firms bid on the two jobs. Six firms bid on each request.

All the contracts Treasury lets for TARP will show up at the Federal Procurement Data System. If you're looking to land a government accounting contract for your firm, check the Fedbizops Web site.