Request for Quotation ( RFQ ) Financial Audit Services for RRFB Nova Scotia. RFQ No. RRFB0043

Transcription

1 Request for Quotation ( RFQ ) Financial Audit Services for RRFB Nova Scotia RFQ No. RRFB0043 Issued by Resource Recovery Fund Board, Inc. May 16, 2016

2 Overview RRFB Nova Scotia (RRFB) is a not-for-profit company established by the Province of Nova Scotia in 1996 to administer certain components of the Province's Solid Waste-Resource Management Strategy. RRFB s mission statement is To work with Nova Scotians to improve our environment, economy and quality of life by reducing, reusing, recycling and recovering resources. RRFB has five mandates: 1. Fund municipal waste diversion programs across the province 2. Operate a deposit and refund system for beverage containers 3. Develop and implement voluntary industry stewardship agreements 4. Develop education and awareness programs 5. Promote the development of value-added manufacturing There are many stakeholders in the operations of our organization, including the Province of Nova Scotia, municipal units, regional waste committees, industry, and consumers. In addition to the readers of our audited financial statements, the Auditor General of Nova Scotia relies significantly on the assurance of the external auditor. Our statements are used in the preparation of consolidated financial statements of the Province. 1.0 Objective RRFB Nova Scotia requires audit services as per the Scope of Annual Audit Work set out in Section 3.0 of this document and is soliciting quotes from potential service providers. This is an evaluative Request for Quote (RFQ). Responses will be evaluated in accordance with the process outlined in Section 5.0 and against the Quote Evaluation Criteria outlined in Appendix B. Any award resulting from this RFQ will not be based exclusively on price. 2.0 Quote Requirements 2.1 Evaluatory Criteria Letters of reference from two (2) current clients for which similar services are required. One (1) of these letters should be from a notfor-profit entity or an entity required to report in accordance with Canadian public sector accounting standards. This should be noted as part of the reference letter if applicable Provide a brief resume of the Partner in Charge Please provide confirmation that, should your quote be successful, your firm would be prepared to deliver final financial statements by or before the 17th business day of May (fiscal year end date March 31 st ). Please note that revenue is not finalized until after the first week of May. 1

3 2.2 Pricing Please list any additional advisory services that your firm offers. All pricing is to be shown in Canadian dollars (CAD) and in adherence to the Price Schedule provided in Appendix A. Please identify, separately, the annual audit work fees for the four fiscal years ending March 31 st 2017, 2018, 2019, and Also include the incremental dollar ($) increase from one fiscal year to the next and what percent (%) increase this represents. The variance columns should say not applicable for Fiscal The annual audit work fees quoted shall be considered all-inclusive for purposes of evaluating the Total Proposal Price (i.e. any anticipated disbursements are to be included in the annual audit work fees on the pricing schedule). RRFB expects that the annual audit work fees would not vary by more than 5% from one year to the following year; if your fees vary by more than 5% from one year to the following year, please provide a detailed explanation for significant increase(s) and/or decrease(s) in fees. 2.3 This RFQ and the Quote submitted becomes part of any resulting Service Agreement. 3.0 Scope of Annual Audit Work 3.1 Audit of the Annual Financial Statements Management prepares the financial statements in accordance with Canadian public sector accounting standards. The primary duty of the auditor will be to ensure that the financial statements present fairly, in all material respects, the financial position of the company, the results of its operations, and changes in net assets and cash flows in accordance with Canadian generally accepted accounting principles. The audit will be conducted in accordance with Canadian generally accepted auditing standards. 3.2 Management Letter As a result of the audit, the auditor may identify managerial or operational controls or accounting procedures that can be implemented or improved. Where such opportunities for implementation or improvement are identified, the auditor shall make recommendations to the Audit Committee of the Board of Directors. 3.3 Communications to the Province of Nova Scotia The auditor is responsible for auditing the annual compensation report required pursuant to the Public Sector Compensation Disclosure Act. Additional attestations may be required for the Department of Finance and the Auditor General. 2

4 3.4 Term The term of the Service Agreement resulting from this RFQ shall be for a period of one year. The auditor may be re-appointed annually up to a maximum of three (3) years at the discretion of RRFB. The initial fiscal period to be audited ends March 31, Note: Failure by the successful proponent to deliver final financial statements no later than the 17 th business day of May, 2017, may prompt a recommendation to the Board of Directors to not re-appoint the successful proponent and to terminate the Service Agreement. 4.0 Quote Submission Procedures 4.1 Closing Date Quotes must be received by 12:00 pm Atlantic Daylight (Savings) Time (ADT), Monday, June 6, 2016,, and shall be delivered by regular mail, courier or in person to: Stacy Breau Director of Corporate Services RRFB Nova Scotia 35 Commercial Street, Suite 400 Truro, NS B2N 3H9 All quotes delivered by regular mail, courier or in person are to be sealed and clearly marked Quote Financial Audit Services for RRFB Nova Scotia. Quotes received after the closing date and time will not be considered. Quotes received via fax or will not be considered. 4.2 Disqualification A quote may be disqualified from further consideration if any response to Section 2.1 or 2.2 is deemed by the evaluators to be incomplete/unsatisfactory. Disqualified quotes shall not receive further consideration. 5.0 Quote Evaluation Procedures 5.1 Opening All quotes will be opened at the offices of RRFB Nova Scotia in accordance with any advertisement or other information supplied with this RFQ document. 5.2 Evaluation Committee An Evaluation Committee comprised of representatives of RRFB Nova Scotia shall evaluate the quotes. 3

5 5.3 Evaluation Step 1: Content of all quote submissions will be reviewed to determine completeness. Absence of either a complete Price Schedule or complete responses to each of the Evaluatory Criteria may cause the quote to be disqualified. Step 2: All quote submissions deemed complete/satisfactory will be evaluated first against the Evaluatory Criteria. Any quote submission not achieving the minimum score required as identified in Appendix B shall receive no further consideration. Step 3: All quote submissions achieving the minimum score required for the Evaluatory Criteria will then be evaluated on Pricing. Re: Pricing The complete/satisfactory submission achieving the minimum score required and containing the lowest Total Proposal Price, excluding HST, will receive the maximum points allowable for Section 2.2. All other similarly qualified quotes will receive a score calculated by dividing their Total Proposal Price into the lowest Total Proposal Price and multiplying by the maximum points allowable. Example Quote Total Proposal Price Calculation Points A $5,000 Lowest 100 (max) B $9,000 $5,000/$9,000* C $8,500 $5,000/$8,500* Step 4: A Total Score will be tallied for each qualified quote submission evaluated. The highest Total Score shall immediately determine the preferred quote submission. Timeline: RRFB anticipates that the evaluation process shall be completed within five (5) business days following the RFQ Closing Date. The Evaluation Committee shall conduct its business in a non-partisan manner at all times. 5.4 Notification The preferred bidder shall be notified by or regular mail of the acceptance of their quote submission following completion of the quote evaluation process. 4

6 6.0 Reservation of Rights 6.1 RRFB Nova Scotia reserves the following rights: To reject any quote not meeting the requirements as outlined in the RFQ document; To reject any or all quotes if deemed unsatisfactory; To accept or reject any or all quotes or to accept any quote deemed most satisfactory and in the best interests of RRFB Nova Scotia, which shall be determined at the sole, unfettered discretion of RRFB Nova Scotia; To waive formality, informality or technicality in any quote of a nonmaterial nature; Where all price offers among those meeting the quote requirements exceed RRFB Nova Scotia s budget for the provision of audit services, and RRFB Nova Scotia is unwilling or unable to proceed with a service agreement at the quote price and does not wish to abandon this initiative, RRFB Nova Scotia reserves the right to initiate a re-quote process or negotiate with bidders in an effort to adjust requirements in such a way so as to reduce quote prices while preserving the integrity of RRFB Nova Scotia s objective of the RFQ; The lowest priced quote, or any quote, will not necessarily be accepted; and The right to cancel this RFQ at any time. 7.0 Disclaimer This RFQ document does not constitute an offer, nor promise to offer to enter into any business agreement or relationship, nor should any intent to enter into a business agreement or relationship be construed. It is a guidance document to assist potential service providers in preparing quotes to provide financial audit services to RRFB Nova Scotia. This RFQ implies no obligation on RRFB Nova Scotia to accept any quote submitted. RRFB shall not be responsible for any costs incurred by proponents in preparing a response to this RFQ document or by participating in this RFQ. THIS IS AN EVALUATIVE REQUEST FOR QUOTATION 5

7 Appendix A : Price Schedule Company Name: Description of Services Total Annual Price $ Variance from prior year fees % Variance from prior year fees* A. Annual audit work for the year ending March 31, 2017 (Fiscal 2017) Not applicable Not applicable B. Annual audit work for the year ending March 31, 2018 (Fiscal 2018) B-A (B-A)/A C. Annual audit work for the year ending March 31, 2019 (Fiscal 2019) C-B (C-B)/B D. Annual audit work for the year ending March 31, 2020 (Fiscal 2020) D-C (D-C)/C Total Proposal Price (sum of A through D above) excluding HST * If percent (%) variance exceeds +/-5% in any year, please provide a detailed explanation for the increase and/or decrease as part of this Appendix A. Company Contact: Title: Address: Phone: Signature: Date: MM / DD / YYYY By signing and submitting this Price Schedule, I/we hereby propose to provide financial audit services as described/required in this RFQ. Further, I/we agree that any resulting Service Agreement will be governed by the laws of Nova Scotia and any special conditions for the provision of required services. 6

8 Appendix B Section Criterion 2.0 Quote Requirements 2.1 Evaluatory Quote Evaluation Criteria Relevance/ Maximum Score Reference Letter Reference Letter Resume of Partner in Charge Confirm ability to deliver final financial statements by or before the 17 th business day of May Y/N Additional advisory services offered Pricing Minimum Score Required Subtotal A Schedule 100 Total Score out of Maximum Total Score Possible 200 Legend: Y/N = Yes/No N/A = Not Applicable N/A Proposal Page Number Appendix A 7