Professional Auditing Services

Agency: Town of North Kingstown
State: Rhode Island
Level of Government: State & Local
Category:
  • R - Professional, Administrative and Management Support Services
Opps ID: NBD13152226576696132
Posted Date: Feb 1, 2019
Due Date: Mar 5, 2019
Source: Members Only
Bid Number: FY(25) Audit Services
Bid Title: Professional Auditing Services
Category: Purchasing
Status: Open

Description:
See related documentation.
Publication Date/Time:
2/1/2019 10:30 AM
Closing Date/Time:
3/5/2019 1:00 PM
Related Documents:

Attachment Preview

Town of North Kingstown Request for Proposals for Financial Audit and Agreed-Upon Procedures
Town of North Kingstown, Rhode Island
80 Boston Neck Road
North Kingstown, RI 02852-5762
Phone: (401) 294-3331
Fax:
(401) 885-7373
Web:
www.northkingstown.org
Request for Proposals
Professional Auditing Services
Agreed-Upon Procedures Services
The Town of North Kingstown, Rhode Island is requesting proposals from qualified independent
public accounting firms or certified public accountants, to conduct an examination and to render an
opinion on the comprehensive annual financial statements of the Town for the fiscal year ending
June 30, 2019, with the option of auditing the Town of North Kingstown, Rhode Island’s financial
statements for the two subsequent fiscal years.
Auditors will need to provide an “in-relation to” opinion on the Town’s Municipal Transparency
Portal (MTP) 2 report that accompanies the CAFR along with an MTP2 Combining Schedule and
Reconciliation.
The town also requires a letter from the auditors stating whether anything came to their attention that
would cause you to believe that the Town failed to comply with any of the terms, covenants,
provision or conditions in of Section 701 contained in the Trust Indenture regarding the $4,8000,000
Town of North Kingstown, Rhode Island Wastewater System Revenue Bonds, 2009 Series A, dated
November 19, 2009, with U.S. Bank, insofar as they related to accounting matters.
The auditors engaged to perform the annual audit of the Town of North Kingstown shall also be
engaged to report on their tests of compliance with the School Uniform Chart of Accounts
requirements in an agreed- upon procedures compliance attestation format.
To be considered for this engagement, your firm must meet the qualifications and satisfy the
requirements set forth in the RFP.
Firms expressing interest will be provided with a copy of a request for proposal (RFP). Please
indicate your interest in receiving a copy of the RFP by making a request in writing or by e-mail to
the following address.
Kris Kinder, Purchasing Agent
100 Fairway Drive North Kingstown, RI 02852
kkinder@northkingstown.org
All questions and correspondence must be directed to Kris Kinder in writing at the above address or
by email at kkinder@northkingstown.org. Contact with personnel other than Kris Kinder regarding
this RFP, other than what may be arranged by Ms. Kinder, may be grounds for elimination from the
selection process.
1
Town of North Kingstown Request for Proposals for Financial Audit and Agreed-Upon Procedures
Five (5) sets of the above sealed proposal, plus an electronic copy on a flash drive, will be accepted
in the Finance Department, Office of the Purchasing Agent, Town of North Kingstown, 100 Fairway
Drive, North Kingstown, RI 02852-5762, Tuesday, March 5, 2019 until 1:00PM and will then be
publicly opened and read aloud.
NO PROPOSALS WILL BE ACCEPTED AFTER THE
TUESDAY, MARCH 5, 2019 DEADLINE.
IT IS THE RESPONSIBILITY OF THE PROSPECTIVE BIDDERS TO MONITOR THE TOWN’S
WEBSITE FOR ANY SUBSEQUENT BID ADDENDUM. NO ADDENDA WILL BE ISSUED OR
POSTED WITHIN FORTY-EIGHT (48) HOURS OF THE BID SUBMISSION DEADLINE.
A certificate of Insurance showing Professional Liability and Workers Compensation with a waiver
of subrogation will be required of the successful bidder.
The Town of North Kingstown reserves the right to reject any or all proposals or parts thereof; to
waive any formality in same or reject any proposal deemed not to be in the best interest of the Town.
The Town of North Kingstown will provide interpreters for the hearing impaired at the bid opening,
provided a request is received three (3) days prior to said meeting by calling 294-3331, ext. 142.
Purchasing Agent
2
Town of North Kingstown Request for Proposals for Financial Audit and Agreed-Upon Procedures
TABLE OF CONTENTS
I.
INTRODUCTION
Page
A. General Information
5
B. Term of Engagement
6
II. NATURE OF SERVICES REQUIRED
Page
A. General
7
B. Scope of Work to be Performed
7
C. Auditing Standards to be Followed
10
D. Reports to be Issued
10
E. Special Considerations
13
F. Audit Documentation Retention and Access to Audit Documentation 14
III. DESCRIPTION OF THE GOVERNMENT
Page
A. General
14
B. Background Information
15
C. Fund Structure
15
D. Budgetary Basis of Accounting
16
E. Federal Awards
16
F. Pension and OPEB Plans
16
G. Joint Ventures
17
H. Magnitude of Finance Operations
17
I.
Computer Systems
17
IV. TIME REQUIREMENTS
Page
A. Proposal Calendar
19
B. Notification and Contract Dates
19
C. Schedule for the 2019 Fiscal Year Audit
19
1. Interim Work
2. Detail Audit Plan and Programs
3. Fieldwork
4. Draft Reports
D. Entrance Conferences, Progress Reporting and Exit Conferences
20
E. Date Final Reports are Due
21
V. ASSISTANCE TO BE PROVIDED TO THE AUDITOR AND REPORT PREPARATION Page
A. Statements and Schedules to be prepared by the
Staff of the Town of North Kingstown
21
B. General
22
C. Report Preparation
22
3
Town of North Kingstown Request for Proposals for Financial Audit and Agreed-Upon Procedures
VI. PROPOSAL REQUIREMENTS
Page
A. General Requirements
22
1. Inquiries
2. Submission of Proposals
B. Technical Requirements
23
1. General Requirements
2. Independence
3. License to Practice in Rhode Island
4. Firm Qualifications and Experience
5. Partner, Supervisory and Staff Qualifications and Experience
6. Prior Engagements with the Town of North Kingstown, Rhode Island
7. Similar Engagements with Other Government Entities
8. Audit Approach
9. Identification of Anticipated Potential Audit Problems
10. Report Format
11. Additional Information to be provided
C. Dollar Cost Bid
28
1. Total All-Inclusive Maximum Price
2. Rates by Partner, Specialist, Supervisory and Staff Level Times Hours
Anticipated for Each
3. Out-of-pocket Expenses in the Total All-inclusive Maximum Price and
Reimbursement Rates
4. Rates for Additional Professional Services
5. Manner of Payment
VII. EVALUATION PROCEDURES
Page
A. Selection Committee
29
B. Review of Proposals
29
C. Evaluation Criteria
29
D. Oral Presentations
31
E. Final Selection
31
F. Right to Reject Proposals
31
APPENDICES
A. Findings from Recent External and Internal Audits
B. Organizational Chart
C. List of Key Officials, Office Locations and Telephone Numbers
D. Proposer Guarantees
E. Proposer Warranties
F. Format for Schedule of Professional Fees and Expenses to Support
the Total All-the Inclusive Maximum Price
G. Form of Contract
H. UCOA Agreed-Upon Procedures
Page 33
Page 34
Page 35
Page 36
Page 37
Page 39
Page 43
Page 45
4
Town of North Kingstown Request for Proposals for Financial Audit and Agreed-Upon Procedures
I. INTRODUCTION
A. General Information
The Town of North Kingstown, Rhode Island is requesting proposals from qualified
public accounting firms or certified public accountants to audit its financial
statements for the fiscal year ending June 30, 2019 with the option for two one-
year fiscal years ending June 30, 2020 and June 30, 2021. Any amendments to
the contract for additional work will be negotiated in good faith. Provided,
however, in the event that the parties cannot mutually agree on any additional
work to be performed and the cost for said work, then the town, at its option
may rescind the option period.
These audits are to be performed in accordance with generally accepted auditing
standards established by the American Institute of Certified Public Accountants,
the standards as set forth in the Government Accountability Office's (GAO)
Government Auditing Standards, issued by the Comptroller General of the United
States, the provisions of the federal Single Audit Act of 1984 (as amended in 1996)
and, the requirements of Title 2 U.S. Code of Federal Regulations Part 200,
Uniform Administrative Requirements, Cost Principles, and Audit Requirements
for Federal Awards Subpart F Audit Requirements (uniform Guidance).
The auditors shall provide an “in-relation to” opinion on the State of Rhode Island
required MTP2 Report and accompanying Combining Schedule and
Reconciliation.
The Town also requires a letter from the auditors stating whether anything came to
their attention that would cause them to believe that the Town failed to comply
with any of the terms, covenants, provision or conditions of Section 701 contained
in the Trust Indenture regarding the $4,8000,000 Town of North Kingstown,
Rhode Island Wastewater System Revenue Bonds, 2009 Series A, dated November
19, 2009, with U.S. Bank, insofar as they related to accounting matters.
The North Kingstown School Department follows the RI Department of Education
Uniform Chart of Accounts (UCOA). The auditors engaged to perform the annual
audit of the Town of North Kingstown shall also be engaged to report on their tests
of compliance with the School Department’s UCOA requirements in an agreed-upon
procedures compliance attestation format.
The audit should be performed, as well, in accordance with all applicable laws of the
State of Rhode Island. The audit and the Town’s financial statements must be
completed by December 15 of each year. Rhode Island law requires that government
financial statements must be filed by December 31 (within six months of the year-
end) with the Rhode Island Auditor General and electronically with the Rhode Island
Department of Revenue.
A copy of the final written correspondence, The Auditor’s Communication with Those
Charged with Governance, shall also be delivered to the State Auditor General.
The Town intends to submit their Comprehensive Annual Financial Report (CAFR)
to the Government Finance Officers Association for their certificate of achievement
5
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