Title: RFP Audit Services

Deadline: 6/26/2023 4:00 PM   (UTC-05:00) Eastern Time (US & Canada)

Status: Awarded

Description: REQUEST FOR PROPOSALS
Request for Proposals (RFP) from qualified Certified Public Accounting (CPA) firms interested in providing auditing services for following proposed project will be received until the date and at the location indicated below.
PROPOSAL NAME: LOCATION:
DEADLINE TO SUBMIT:
DESCRIPTION
Town of Summerville Audit Services Proposal
Summerville Town Hall 200 South Main Street Summerville, SC 29483
Monday, June 26, 2023 4:00 p.m.
The Town of Summerville is seeking proposals from qualified Certified Public Accounting (CPA) firms interested in auditing its financial statements for the fiscal years ending June 30, 2023, 2024, and 2025, with an option for auditing its financial statements for two (2) additional, subsequent years. All audits are to be performed in accordance with Generally Accepted Accounting Principles (GAAP), Generally Accepted Auditing Standards (GAAS), Generally Accepted Government Auditing Standards (GAGAS) and any applicable federal and state laws.
Current and Previous Town Audited Financial Statements and Budgets can be found at https://www.summervillesc.gov/
SCOPE OF WORK
The Town of Summerville desires the selected firm to express an opinion on the fair presentation of its financial statements in conformity with Generally Accepted Accounting Principles (GAAP), including any applicable federal and state laws. This opinion shall encompass all funds included in the Town's annual budget, as well as any other subsidiary accounts controlled by the Town. The Town's system of internal controls should also be examined. If weaknesses in internal controls are noted, appropriate recommendations should be made for remediation of control deficiencies. Management should be notified immediately of any irregularities discovered during the course of the firm' s examination.
In addition to the normal performance of providing a complete financial and compliance audit, the firmwill provide assistance with year-end closing entries and shall work with the Town to provide proper assistance, as needed, to correct any audit findings or to satisfy any auditor' s recommendations. Additionally, the selected firm shall be available to provide ongoing technical assistance, as needed, to the Town's finance staff to ensure proper accounting methods are being followed.
During the period of contract performance, the Town of Summervil1e may be subject to requirements of the Office of Management and Budget (0MB) and be required to include in its financial statements a supplementary Schedule of Expenditures of Federal Awards (SEFA), as well as the related auditor's reports in the scope of the annual audit.
All audits shall be performed in accordance with GAAS, as set forth by the American Institute of Certified Public Accountants (AICPA); GAGAS, as set forth by the United StatesGovernment AccountabilityOffice (GAO); the Standards for Financial Audits, as set forth in the U.S. Comptroller General's Government Auditing Standards and the provisions of other applicable federal and state laws.
The successful proposer may provide additional services to address areas of special emphasis defined and outlined by the Town. Optional professional services must be specified on an hourly rate by staffing and skill level.
GENERAL INFORMATION REQUESTED FROM THE PROPOSER:
1. Firm: Briefly describe the firm's history, background, size and locations.
2. Independence: Provide an affirmation statement that it is independent of the Town, as defined by GAAS andGAGAS.
3. Licensed to Practice in South Carolina: An affirmation statement shall be included indicating that all assigned CPA professionals are properly licensed to practice in South Carolina and the firm is legally registered in the State.
4. Quality of Work Record:
a) Describe the firm's reputation for audit work and whether or not the firm has a record of substandard work within the last ten (10) years.
b) Describe any Quality Control Measures implemented by your firm.
5. Firm and Partner/Supervisory Staff Qualifications and Experience:
a) Describe the firm's and assigned professionals' experience in auditing local government agencies within the last five (5) years.
b) Describe the firm's principal engagement partner and senior manager’s experience in auditing other local governments within the last five (5) years. The firmshall also indicate how the quality of staff over the term of the agreement will be assured
6. References: The proposal shall include the most significant government engagements that are similar to the engagement described inthis request (maximum of 3). Referenced engagements must have been performed during the last five (5) years by the office that will be assigned responsibility for the proposed audit Please indicate the scope of work, date, engagement partners and the name and telephone number of the principal client contact.
7. Specific Audit Approach:
a) The proposal shall set forth a summary work plan, including an explanation of thegeneral methodology to be followed in order to perform the audit and the estimated hours bymajor account or audit segment.
b) Specifically described the firm's approach to government revenues and receivables and whether or not the firm will utilize confirmations to agencies/customers for accounts receivable.
c) Describe the firm's approach for compliance with SAS 99 regarding fraud considerations and how the firm would communicate any suspected fraud or confirmed fraud to management.
d) Provide an anticipated schedule of the weeks/dates that firm professionals would be available to begin audit related work.
8. Identification of Anticipated Potential Audit Problems: The proposal shall identify and describe any anticipated potential audit problems and the firm's approach to resolving these problems.
9. Insurance Coverage: Proposer warrants that it is willing and able to obtain an errors and omissions insurance policy providing a prudent amount of coverage
for thewillful or neglectful acts, or omissions of any officers, employees or agents thereof. Proof of the firm's carrier will be required.
10. Fees: Set forth the firm's fee proposal broken down, by year, for FYE23, FYE 24, and FYE25.
a) Fixed Fee: Provide an all-inclusive fixed fee for conduct of the audit examination for each of the next three (3) years. This fee must include the financial report, the management, and all other required reports. Please include an optional fee for preparation and submission of the SEFA report should it be required
b) Describe the availability of the firm for assistance with questions or problems during the term of the contract and availability for other negotiated services.
c) Furnish current standard billing rates for classes of professional personnel in the event services are needed that exceed the scope of the current proposal.
11. Additional Data: Any additional information considered essential to the proposal should be included in this section. Do not include firm client list.
RFP ADMINISTRATION
The Town of Summerville reserves the right to terminate, modify, or suspend the process, reject any orall submittals, modify the terms and conditions of this selection process and/or waive any informalities.
ADDENDA
If the Town deems appropriate to modify or supplement this RFP, addenda will be posted on the Town of Summerville website at www.summervillesc.gov. It is the sole responsibility of the proposer to read all addenda and any other items relevant to this RFP prior to submittal. No additional questions will be taken or addenda added to the website after 12:00 p.m. Friday, June 16, 2023.
BUSINESS LICENSE AND INSURANCE
The successful firm must obtain or maintain a Town of Summerville business license and provide to the Town certificates of insurance certifying proof of insurance coverages as required by the Town of Summerville.
PROPOSAL INSTRUCTIONS
Questions related to this RFP should be directed to Rhonda Moore at rmoore@summervillesc.gov or 843- 871-6000.. Proposals should be submitted in a sealed envelope clearly marked "Audit Services Proposal" addressed to:
Director of Finance
200 South Main Street Summerville, SC 29483
In lieu of US Mail, proposals may be emailed to rmoore@summervillesc.gov using the confirm receipt option. Proposals received after the deadline will not be considered. Any costs associated with preparing the proposal submittal shall be the sole responsibility of the respondent.
CONCLUSION
All submittals received by the deadline will be considered without regard to age, race, creed, color, gender, disability, familial status or national origin.

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