Summary
To: Town Commission as Audit Committee
From: Stefan Massol, Director of Support Services
Date: 10/2/2018
______________________________________________________________________
Subject:
Title
Review of RFP for External Auditing Services
Summary:
Town staff has drafted a Request for Proposals (RFP) to be used for external auditor selection by the Audit Committee and Town Commission.
End
Body
Previous Commission Action: None.
Background/Problem Discussion: Each year the Audit Committee and Town Commission recommend and select an external auditor. For several years the town has received services under a continuing contract from Davidson, Jamieson and Cristini, P.L. In the interest of maintaining compliance with its procurement of these services staff is recommending that the town publish a Request for Proposals for audit services pertaining to fiscal years ending 2019 thru 2023.
For this process the Audit Committee would be responsible for establishing the terms of the process in the form of a Request for Proposals. Attached to this item is a draft RFP prepared by town staff. In addition, the Committee would review proposals after they have been opened to identify any firms that it wishes to call for interview. At the final meeting, any requested interviews would take place and a ranking of firms would be made, with a recommendation of award made to the Town Commission.
Firms would be evaluated based on factors such as the auditing experience of the firm, expertise of the firm’s personnel in performing audits for similar entities, and the overall cost of proposed services.
Staff requests that the Audit Committee provide any recommended revisions to the attached Request for Proposals for discussion purposes.
Financial Implications: None.
Recommendation: Approval of the Request for Proposals for External Auditing Services.
Proposed Motion: Move approval of the Request for Proposals for External Auditing Services.