RFP 2014-40 Audit A-133

The Exchange seeks a Contractor who will provide the Exchange professional assistance to: prepare financial statements, including related notes, in compliance with U.S. Generally Accepted Accounting Principles (GAAP); conduct an audit of the Exchange's financial statements in accordance with auditing standards generally accepted in the U.S. and the standards for financial audits contained in GAGAS; prepare an opinion as to whether the presentation of the financial statements prepared by the Exchange conform to U.S. GAAP; perform tests of accounting records and other procedures, including an assessment of the risks of material misstatement of financial statements; evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by the Exchange, and evaluate the overall financial statement presentation. Certain limited procedures will be performed as required by auditing standards generally accepted in the U.S and GAGAS; perform audit procedures with respect to the Exchange's federal program in accordance with the provisions of OMB Circular A-133 Audits of States, Local Governments and Non-Profit Organizations. OMB Circular A-133 includes specific audit requirements, mainly in the areas of internal control and compliance with laws, regulations, contracts, and grant agreements that exceed those required by Government Auditing Standards; perform tests to evaluate the effectiveness of the design and operation of internal controls relevant to preventing or detecting material noncompliance with laws, regulations, contracts and grant agreements; provide one training session to the Financial Management Division and Program Integrity Division staff, with training to include an assessment and recap on the preparation of financial statements, detailed worksheets, and explanation of the preparation of adjusting entries; provide a document with recommended future fiscal years GAAP adjustments, with emphasis on adjustments related to sustainability funding; provide up to eight hours of consultation services on an as-needed basis.

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