Audit Scope
The Arab Community Center for Economic and Social Services (ACCESS) will undertake a financial audit as required by the OMB Circular Compliance Supplements and Government Auditing Standards. ACCESS is seeking an independent auditor/firm of certified public accountants with resources that specialize in financial analysis, and also possess the knowledge and experience relative to current audit best practices.
Independent auditor/firm’s activities include, but are not limited to:
- Perform an independent audit of the financial statements in accordance with Generally Accepted Accounting Standards, which includes the Statement of Financial Position, Statement of Activities and Changes in Net Assets, Statement of Cash Flows, Schedule of Functional Expenses, Schedule of Support and Revenues, and Notes to the Financial Statements/Schedules and express an opinion as to the fair presentation for the fiscal year ended September 30, 2017.
- Provide a Management Letter including any issues of internal control weaknesses or issues of compliance with Government Auditing Standards.
- Prepare Form 990 in accordance with IRS regulations/tax codes.
- Prepare a Federal Single Audit in accordance with OMB Circular A-133.
- Prepare an SF-SAC for submission to the Federal Audit Clearing House.
- Meet with ACCESS Senior Accountant and Director of Finance prior to, during, and at the end of the audit process.
- A detailed Statement of Work and work plan with timelines to accomplish the ACCESS financial audit of all accounts and transactions of all ACCESS’ programs/departments.
- Provide a draft report to the Senior Accountant and Director of Finance for review.
- Present the final report to the CFO, Finance Committee and Executive Board in meetings and respond to any inquiries as needed.
Term/Period of Performance
The total time frame of the audit should not exceed three months. The final audit will need to be completed, with all deliverables provided to ACCESS, no later than January 31, 2018.
Profile of the Independent Audit Firm
- Description of the size of the firm in general, and the size of the firm’s non-profit/governmental audit staff. The full address of the location(s), and which location, if more than one, the services will be provided through.
- Identify the principle supervisory and management staff, including engagement partners, managers, other supervisors and specialists who would be assigned to the engagement and identify the non-profit and federal grant auditing experience and training of each person (resumes required). The firm should indicate how the rotation of staff over the term of the audit engagement agreement would be assured.
- Identify any potential areas of conflict of interest.
- Provide an overall description of the services performed by the audit firm.
- Provide a list of references for at least three engagements performed in the last five years that are similar in size and scope to the engagement described in this RFP.
- Disclose if any portion of the engagement will be subcontracted to other firms and identify the firms in the proposal.
- Provide a quote for the cost of services being offered for the period requested of the engagement.
- Provide additional information that you feel may be helpful in the selection process.
Responsibilities of Parties
The following section describes specific responsibilities of ACCESS and the independent auditor/firm.
ACCESS' Responsibilities
- Provide the independent auditor with office space to perform the audit.
- Provide access to department staff and management, offices and operational areas, as required to complete the tasks and activities defined under the approved work plan.
- Designate a person to whom all communications may be addressed and who has the authority to act on all aspects of the services. This person will review the Scope of Work and associated documents with the independent auditor/firm to ensure understanding of the responsibilities.
- Provide information regarding the business structure of ACCESS, as required by the independent auditor. ACCESS will provide information as required by the independent auditor to perform its responsibilities and schedule the availability of the ACCESS personnel for interviews as may be required.
Independent Auditor Responsibilities
- Perform an independent audit of the financial statements in accordance with Generally Accepted Accounting Standards, which includes the Statement of Financial Position, Statement of Activities and Changes in Net Assets, Statement of Cash Flows, Schedule of Functional Expenses, Schedule of Support and Revenues, and Notes to the Financial Statements/Schedules and express an opinion as to the fair presentation for the fiscal year ended September 30, 2017.
- Provide independent auditor's report on internal control over financial reporting and on compliance and other matters based on an audit of financial statements performed in accordance with Government Auditing Standards.
- Provide independent auditor's report on compliance with requirements that could have a direct and material effect on the major program and on internal controls in accordance with OMB Circular A-133.
- Report should include material weaknesses and suggested management improvements if applicable.
- Prepare Form 990 in accordance with IRS regulations/tax codes.
- Prepare an SF-SAC for submission to the Federal Audit Clearing House.
- Prepare and File form 5500, in accordance with the IRS and Department of Labor regulations.
- Designate a person to whom all project communications may be addressed and who has the authority to act on all aspects of the services. This person will review the Scope of Work and associated documents with the senior accountant to ensure understanding of the responsibilities.
- Identify a Project Coordinator, who is a Certified Public Accountant, responsible for the overall project.
- Provide project management for all activities associated with the project.
- Comply with all applicable federal and state policies, procedures and guidelines.
- Must have all the necessary equipment, including hardware and software to fulfill the contract.
Description of Project Services
ACCESS intends to award an independent auditor/firm for auditing services to undertake the financial audits as listed in activities for the fiscal year ending September 30, 2017. Due to the nature of the audit and the extensive learning curve, we would like the bid to be for a three-year period; listing the costs for each year separately, while providing a total for all inclusive pricing on services being quoted. Each year’s renewal shall be subject to the annual review and recommendation of the Finance Committee and Executive Board.
The independent auditor/firm will develop a financial report based on the evaluation and assessment of ACCESS’ year end activities and a letter addressing the adequacy of the organization’s internal accounting and administrative controls.
Submission of Statement of Work and Timeline
Evaluation Factors:
- Turnaround time 40 points
- Cost 30 points
- Reputation & experience 15 points
- Number of staff available 10 points
- Proximity of firm to headquarters 5 points
ACCESS reserves the right to reject any and all proposals submitted and to request additional information from all proposers. Any contract awarded will be made to the independent auditor who, based on evaluation factors scores the highest. If necessary, an oral interview may be requested.
Any parties interested in bidding on this audit scope please submit your bid on our website at http://www.accesscommunity.org, or mail to 2651 Saulino Ct., Dearborn, MI 48120 in a sealed envelope addressed to Audit Procurement; and email any questions you may have to procurements@accesscommunity.org (link sends e-mail).
Proposals must be received in our office or online no later than 5 p.m. on August 25, 2017. If not received by the deadline, bid will not be considered. If you are submitting your bid through the U.S. Postal Service, we request you send in three copies.