Request For Proposals Finance Audit Services

Transcription

1 Request For Proposals Finance Audit Services 1

2 I. Purpose The purpose of the Request for Proposals is to obtain the services of a public accounting firm, whose partners or officers are independent certified public accountants and are duly licensed to practice in the State of Oregon, to perform a financial audit of the records of the Diocese of Oregon. The audit shall be conducted in accordance with generally accepted government auditing standards by an independent certified public accountant. II. Instructions for Submission of Proposals All proposals must be received no later than Wednesday, February 28, 2018 at 4:30 PM (PST) to the following address: Mike Stone Treasurer Diocese of Oregon SW Military Lane Portland, Oregon Telephone Number: (971) stone.michael@comcast.net The responsibility for submitting this proposal to the Diocese of Oregon on or before the stated time and date will be solely and strictly the responsibility of the accounting firm. The Diocese will in no way be responsible for delays caused by the United States mail delivery or caused by any other occurrence. The proposal package must contain all the items described in Section IX of this document. Failure to submit these items may render the proposal a non-response. The proposal must be signed by an officer of the firm legally authorized to conduct business in its name. The proposal shall be submitted in a sealed envelope marked "Proposal for Auditing Services". III. General Information About Diocese of Oregon In the 160-plus years since the first church was established, the Episcopal community in Western Oregon has grown, expanded and redefined what it means to join God s mission in the world. As a community of over 18,000 baptized members, the church in Western Oregon eagerly shares its vision of how good God s love is. The Episcopal Church in Western Oregon is a diocese of The Episcopal Church, which is a community of 2.5 million worshipers in about 120 dioceses across the United States and abroad. 2

3 The Episcopal Church is part of the larger Anglican Communion, which is a worldwide community of more than 77 million who intentionally maintain community and commonality in prayer and worship in more than 500 dioceses in 164 countries. Diocesan Vision Statement Gathered in the love of God in Christ and accepting of diversity, the Diocese of Oregon actively nourishes renewal and growth, cares for creation, and values the unique gifts of all as we encourage innovation to meet the needs of the 21st century church. We ground our lives in Anglican worship while connecting ourselves to the wider church and world. Diocesan core values We live out our mission and vision as a Christian community guided by these core values: Centering our lives in the Baptismal Covenant Living in and sharing God s abundance in thankfulness for the riches we have Practicing resurrection: living in the open expectation of the new thing God is doing at all times and in all places Responding compassionately to those in need Nurturing children and youth in faith, hope, and love Caring for, protecting, and defending all of God s creation Seeking and inviting the unique gifts of all our members Listening deeply, speaking honestly and with respect Mediating our disagreements, misunderstandings, and concerns through reconciliation and forgiveness Continuing to increase our knowledge of and commitment to what it means to live in God s realm Support Episcopal Relief & Development and Millennium Development Goals Financial Records The Diocese of Oregon s financial records are audited yearly by an independent public accounting firm. The financial records are centrally maintained at the Bishop Close, SW Military Lane, Portland, Oregon. The principal employees in charge of the financial and record keeping aspects of the Agency are: 1. Controller 2. A/P and Payroll 3. Staff Accountant IV. Period of Examination and Length of the Contract The audit engagement will cover the fiscal year ending December 31, 2017 (one year), with an option to be exercised by the Diocese to renew the contract for two additional one-year periods, at terms to be 3

4 negotiated after completion and submission of the audit report for the fiscal year ending December 31, V. Scope of Examination A. Financial Report An annual financial audit of the Diocese of Oregon shall be completed in accordance with generally accepted government auditing standards by an independent certified public accountant. The auditor s report at a minimum shall include and/or opine on the following: 1) Financial Statements Statements of Financial Position Statements of Activities Statements of Functional Expenses Statements of Cash Flow Notes to Financial Statements Other Supplemental Information 2) Additional Reports on Compliance 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 3) Summary of Auditor s Results The independent auditor shall determine whether the Diocese of Oregon has complied with laws, regulations, contracts and grant regulations. As required by generally accepted government auditing standards. The auditor shall prepare a report on compliance with requirements that could have a direct or material effect and on internal control. The draft of the audited financial statements and the Management Letter are to be discussed with the Controller before its issuance in final form. 4

5 VI. Timing of Work The following is a timetable for selection of the accounting firm, award and contract execution, and audit of the books and records: A. Selection of Accounting Firm 1. January 16, 2018 Draft of Request for Proposals presented to Finance Committee for approval. 2. January 26, 2018 Request for Proposals available to public accounting firms. 3. February 28, 2018 Deadline to receive proposals at 4:30 PM (PST). 4. March 13, 2018 Submittals reviewed and accounting firms selected by Finance Committee. 5. March 22, 2018 Recommendation submitted to the Board of Trustees for their consideration and approval. A professional services agreement will be entered into thereafter. 6. May 31, 2018 start audit 7. October 1, 2018 Complete audit and issue draft report B. Audit Report Deadline and Distribution The audit report and Management Letter, in final form, which shall include the independent auditor's reports and audited financial statements, shall be completed and received no later than September 30, It shall be presented to the Board of Directors at its October 2018 meeting. Fifteen (15) copies of the final audit report and Management Letter, bound separately, shall be prepared and shall also be received no later than September 30, All printing and reproduction costs incurred by the accounting firm shall be considered in submitting the lump-sum fee proposal. C. Working Papers For a period of four (4) years after completion of any work provided herein, the auditor's working papers shall be retained. The Board of Directors and its representatives shall be entitled, at any time during such four (4) year period, to inspect and reproduce any such documents deemed necessary. 5

6 VII. Support Personnel Throughout the audit engagement, support personnel will be made available to provide assistance for tasks, such as identifying locations of required records and documentation, gathering needed records and supporting information, and such other tasks that will serve to expedite the audit, with the realization that support personnel must be given consideration to effectively perform their day-to-day job requirements. The following employees will be available to provide the necessary assistance: 1. Controller 2. Payroll and A/P 3. Staff Accountant VIII. Compensation The submittal shall include a total lump-sum fee (not-to-exceed amount) for the services. The total fee should include estimated costs for any travel related expenses to perform services on site and printing costs. IX. Accounting Firm and Office Information The accounting firm shall provide the following information regarding the firm's desire and ability to conduct the audit: A. Title Page B. Table of Contents C. Letter of Transmittal The accounting firm shall include a statement of understanding of services requested and a commitment to perform these services shall be made. D. Profile of the Accounting Firm 1. Submit evidence that the firm is a legal entity in the State of Oregon and has performed continuous certified public accounting services for a minimum of five (5) years. 2. Certify that the firm is a member in good standing of the American Institute of Certified Public Accountants and that the firm is independent. 3. Describe the professional and/or academic qualifications for key personnel, such as partners and supervisory personnel that will be assigned to the audit and their experience in the governmental/nonprofit auditing sectors. 6

7 4. Disclose any potential impairments of independence, as defined by the American Institute of Certified Public Accountants, of the firm or employees assigned to the audit engagement. 5. Provide a list of current or recent nonprofit audits performed by the firm, especially in the church, which are similar in nature. Provide names, addresses, and telephone numbers of current and recent clients that could be contacted. Include at least three (3) references. Diocese of Oregon reserves the right to contact any or all references before or after the selection process. 6. Describe the firm s procedures in monitoring the progress of the audit and communicating same to the client while the audit is in progress. E. Audit Approach The proposal shall indicate its understanding of the scope of the examination and reporting requirements outlined in Sections V and VI of the Request for Proposals. F. Availability of Audit Firm The audit firm shall indicate its ability and willingness to commit and maintain staffing, both number and level, to successfully conclude the audit examination within the time constraints outlined in Section VI of the Request for Proposals. The proposal should mention the availability of the partners, managers or staff to meet with management and the Finance Committee on any material matters that could affect these services. G. Compensation Total lump-sum cost (not-to-exceed amount) of these auditing services to the Finance Committee should not appear anywhere on the proposal but in a separate sealed envelope as previously explained. X. Evaluation of Proposals Proposals will be evaluated by the Finance Committee to ascertain which accounting firm best meets the needs of the Diocese of Oregon Evaluation considerations will include, but not be limited to, the following: A. Responsiveness of the proposal in clearly stating an understanding of the work to be performed. B. Although a significant factor, cost may not be the dominant factor. Cost will be a particularly important factor when all the other evaluation criteria are relatively equal. C. Technical ability of the firm to perform required services. D. Primary emphasis in the selection process will be placed on the independence, background, qualifications and experience of the accounting firm personnel. 7

8 The Selection Committee will consist of: Finance Committee Controller The Finance Committee reserves the right to interview or reject any and all proposals submitted. When the final selection is made and after the committee has made the award on March 13, 2018, a professional services agreement will be entered into with the successful accounting firm. No debriefing or discussion session will be held with the unsuccessful accounting firms. Among other matters, the agreement will require certificates of insurance for professional liability, commercial general liability, workers' compensation and automobile liability coverage, with limits as set forth by the Finance Department. Xl. Other The Diocese of Oregon is not obligated in any manner to reimburse the accounting firms for any costs incurred in connection with the response to the Request for Proposals. XI. Affirmative Action Equal Employment Opportunity It is the policy of Diocese of Oregon that no person will be denied access, employment, training, or promotion on the basis of gender, race, color, religion, ethnic, or national origin, political beliefs, marital status, age, sexual orientation, social and family background, linguistic preference, or disability, and that merit principles will be followed. Each firm shall be required to indicate its equal employment policy and provide a detailed breakdown by gender and occupational categories of its work force. Efforts will be made to utilize small and minority owned audit firms. 8