The Workforce Development Board of the Treasure Coast, Inc. d/b/a CareerSource Research Coast (CSRC) is seeking an independent, organization-wide financial and compliance audit is to be conducted, completed, and submitted as required.
Please consider this a formal request for quotes (RFQ), responses to which will be used to determine the best-qualified firm for these services and will be the basis for negotiating a contract. An annual audit will be completed for each program year for all financial operations. Audit services under this
procurement beginning July 1, 2023, and ending June 30, 2028.
Interested in submitting a quote? See additional information below.
Questions and Answers
Q: Could you please provide a copy of the June 30, 2022, audited financial statements and accompanying 990 form?
A: This information is on our website: https://careersourcerc.com/about-careersource-research-coast-2/meeting-documents-py-22-23/
Q: Please provide us a brief summary of the accounting department personnel and their relevant experience.
A: Currently a staff of 2. Accountant (12 years) & CFO (7 years)
Q: Are there any auditing problems / difficulties we need to be made aware of?
A: None that have been brought to our attention.
Q: Do you have an audit committee or equivalent oversight by the Board?
A: Executive Committee receives and reviews all financial reports.
Q: Is all of the accounting performed in one office, on one system? If not, how many accounting systems and locations are involved?
A: One office in one system – Abila MIP
Q: Is the fixed asset detail maintained in a fixed asset software system or on excel spreadsheets?
A: Excel sheets. IT assets are recorded in specific software.
Q: Will you calculate and record the lease liabilities and right to use asset and related amortization?
A: No, we would like the audit firm to prepare.
Q: Do you typically prepare the financial statements and footnotes or does the audit firm prepare them?
A: Contracted audit firms prepare.
Q: Can you provide the prior year trial balance and audit adjustments, if any? Or give an indication of the number of adjustments and a description of the entries, if any?
A: Prior year has 4 adjusting entries: 1 – Depreciation, 2 – Fixed asset addition, 3 – GASB 87 implementation, and 4 – GASB 87 activity
Q: May we please get a copy of the budget or any interim financial statements for the current fiscal year?
A: This information is posted on our website: https://careersourcerc.com/about-careersource-research-coast-2/meeting-documents-py-22-23/
Q: What is the expected timeline for audit fieldwork? Expected start and completion date?
A: Audit fieldwork has historically been approximately 2 weeks with some pre-audit requests. Expected to start sometime after August 1st, 2023.
Q: What is your preference of how field work is performed (remote, in person, hybrid, etc.)?
A: Remote work is acceptable. We have had remote audits for the past 2 years.
Q: If possible, can you indicate the professional fees for 2022 or the number of hours incurred on the engagement?
A: Due to the competitive nature of this procurement, we cannot provide the prior year’s fees for this service.