Government Contract | Missouri
SLDCAuditServices

Bid Information


Bid Alert No: 00000523978

Bid Title: SLDCAuditServices

Agency Bid No. Title: Not Stated

Received Date: 03/24/2016

Close Date: 04/15/2016

Purchase Type: Not Stated

Delivery Point:

Delivery Date: Not Stated

Specifications

ComprehensiveAnnualAudit.Theauditorwillprepareand issuean auditor's opinion on SLDC's Comprehensive Annual Financial Report inaccordancewithgenerallyacceptedauditingstandards.ThereportshouldincludeallthestatementsoutlinedinExhibit ASLDC will allow, but does not require, the firm to subcontract a portion of its auditto another CPA.If the firm subcontracts a portion of this audit, the specificresponsibilitiesofthesubcontractor(s)shouldbenotedintheproposal.SLDCreserves the right to approve the firm to whom the work is to be subcontracted. Iftheauditingfirmsubcontractsaportionoftheaudit,itmaynotmakereferencetotheminitsreportandmustreviewthesubcontractor'sworkin accordancewithGenerallyAcceptedAuditingStandardguidelines. SLDCstronglyencouragestheparticipationofminorityfirms. Aspreviouslymentioned,SLDC'sbooksareonthemodifiedaccrualbasisofaccounting.SLDCwillfurnishallnecessarydocumentsrequestedaspartof theauditandstaffwillbeavailabletoprovidesupportonanasneededbasis. WorkspacewillbeprovidedwithintheSLDCofficeforauditorstoconduct fieldwork.SLDC also requires that one main exit conference be held prior to the issuanceof the report and in sufficient time for SLDC to respond to any findings orquestioned costs. In addition, a final copy of the report should be sent to theFederalAuditClearinghouse.3.2.1 A133 Audit. The auditing firm must also perform a Financial ComplianceAudit under the Single Audit Act of 1984, Public Law 98502, as amendedin1996,PublicLaw104156,whichstatesthateachlocal governmentthatreceives$750,000ormoreinfederalfinancialassistanceinafiscal yearissubjecttotherequirementsoftheActandanyimplementing regulationsprescribed by the OMB. The OMB has issued its new CircularA133whichoutlinesthesingleauditinaccordancewiththeStandards forAudit ofGovernmental organizations, Programs, Activities, and Functions,developed by the Comptroller General ("GAO"). The audit shall cover theentireoperationsofSLDCandtheagenciesandvariousfundsunder itsjurisdiction.OMBcircularA133specifiesthattheauditorshalldetermine whether: Thefinancialstatementsofthegovernment,department,agency orestablishmentpresentfairlyitsfinancialpositionandresultsofitsfinancialoperationsinaccordancewithgenerally acceptedaccounting principles. The organization has internal accounting and other control systemstoprovidereasonableassurancethatitismanaging federalfinancialassistanceprogramsincompliancewithapplicable lawsand regulations. Theorganizationhascompliedwithlawsandregulationsthat mayhavematerialaffectonitsfinancialstatementsandoneach majorfederalassistance program.TheA133portionoftheauditreportisrequiredtocontainthefol lowing:1. AstatementthattheauditwasmadeinaccordancewiththeprovisionsofOMBCircular A133.2. Theauditor'sopiniononthefinancialstatementsandona scheduleoffederalassistance,showingthedetailedexpendituresforeachFederalassistanceprogramasidentifiedintheCatalogofFederalDomesticAssistance,andallotherFederalprogramsandgrantswhichhavenotbeenassignedcatalog numbers.3. The auditor'sstudy and evaluation of internal control systems whichmustidentifytheorganization'ssignificantinternal accountingcontrolsandthosecontrolsdesignedtoprovide reasonableassurancethatFederalprogramsarebeingmanaged incompliancewithlawsandregulations.Thereportmustidentify thecontrolswhichwerenotevaluatedandthematerial weaknessidentifiedasaresultofthe evaluation.4. Theauditor'sreportoncompliance containing:(a) Astatementofpositiveassurancewithrespecttothose itemstestedforcomplianceincludingcompliancewith laws,rulesand regulations pertaining to nonmajor programs andotheritems which could have a material effect on financialreportsand claims for advances and reimbursements. In addition,theauditor'sreportmustdisclosewhetherthe organizationhas complied with laws and regulations thatmayhaveamaterialeffectoneachmajorfederal assistanceprogram.(b) Astatementofnegativeassuranceonthoseitems nottested.(c) Asummaryofall instancesof noncompliance.(d) Anidentificationoftotalamountsofcostsquestioned,ifany,foreachFederalAssistanceawardasaresult ofnoncompliance.Finally,anyinstancesoffraud,wasteandillegalacts,orindicationsofsuch,mustbecoveredbyseparatewrittenreporttotheFederaldepartmentwhichprovided theFederalassistance funds.3.3 ManagementLetter(Comments).SLDCrequestsa ManagementLetteraddressingallnoncompliancewithprocedures, recommendations forimprovementofotherfindingsnotedbythefirmduringits audit.3.4 RecordRetention.Theauditorsmustagreetomakeallworkpapers andreportspreparedorobtainedduringthecourseoftheaudit availableduring the audit and for a period of three years after issuance of the auditreports,withoutcost,torepresentativesofappropriateFederal Agencies,theGAOortorepresentativesofSLDCandthe City.3.5 IssueDate.SLDCrequiresthatthisauditreportbeissuedonorabout10/31/20xxfollowingt h e auditedyearend.Theauditingfirmwillduplicateandsubmits u f f i c i e n t copiesofthereportforproperdistribution.Inthepast,thishasrequiredabouttwentyfive(25)copiesofthereport.IVTHEPROPOSAL:FORMAND ATTACHMENTS4.1 Experience. An affirmation that the proposing firm is currently a licensedCertifiedPublicaccountingfirmregisteredintheStateofMissouri forpublicpractice should be included. Firms must provide a history of theirexperienceinperformingquasigovernmentalagencyauditsandotherexperiencetheyfeelisimportantindeterminingqualifications.Alistofcurrentandpriorgovernmentalauditclientsandreferencesalsoshould beprovided.4.2 Approach. Firms should include information concerning their approachontheaudits including: Anestimated timetable. Useofauditprogramsandsamplingtechniques. Useofsubcontractors,inparticular,minorityfirms. Informationaboutkeypersonnelassignedtothe audits. Otherrelevant information.4.3 Independence. An affirmation that the firm meets the independencerequirements specified in the generally accepted governmental auditingstandardsmustbe included.4.4 Compensation. Firms shall submit the charge rates and number ofhours estimated to be worked for each personnel category expected to beused during the Audit. SLDC wishes to enter into a contract with amaximumnotbeexceedfee.Thebidshouldincludecostsforeachof thenext five annual audits beginning June 30, 2016. Year four and five maybeconsideredoptionalatthediscretionoftheSt.LouisDevelopmentCorporation.4.5 MinorityFirmParticipation.Allproposalsmustindicatethenameof theminorityfirm(s)andtheplannedextentoftheparticipation.Includethepercent of participation and dollar amount of their participation. Currently,the City's MBE participation goal is 25% andWBE is 5%.4.6 GoodStanding.Anaffirmationthatthefirmiscurrentinalltaxes andlicensesduetotheCityofSt.Louismustbe included.VSELECTION CRITERIA5.1 Evaluation Criteria. The proposals will be evaluated on the followingcriteria: Specialized experience in quasigovernmentalagencyaudits. Approachtothe audits. Capabilityofthefirmtoperformtheworkinquestion withinthetimelimitations noted. Experienceofthepersonnelassignedtothe audit. Pastrecordofperformanceofthefirmwithrespectto suchfactorsascontrolofcosts,qualityofworkandabilityto meetschedules. Proposedcostoftheservices required. Useofminority firms.VIMISCELLANEOUS6.1 UnforeseenProblems.ProblemsorareasofconcernswhichmayariseorwhichwereinadvertentlyomittedinthisRequestforProposalsmaybenegotiatedbetweenSLDCand firms.6.2 Captions.CaptionsofparagraphsofthisRequestforProposalsare forconvenience only.6.3 Workpapers.Copiesofsignificantworkpapersaretobe made availabletothe SLDC.6.4 ResponseContent.Tofacilitatethereviewprocess,pleasekeepresponses as concise as possible. Please do not include any corporateannualreports,promotionalmaterials,orother extras.No additional specifications were given.

Bid Related Documents

Download Solicitation Notice

Product Code: 94620

Agency Information


Issuing Agency: St. Louis Development Corporation

State: Missouri

Agency Type: State and Local

Contact: 1520 Market St #2000, St. Louis, Missouri, 63103

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