REQUEST FOR AUDIT PROPOSALS
The City of Siloam Springs, Arkansas, is accepting proposals for its annual audit for the year ending December 31, 2021. Please provide qualifications, references and estimated fee for a one (1) year engagement and a three (3) year engagement and estimated audit completion date. Please submit three (3) copies of your proposal.
Proposals shall be submitted to Kayla Myrick, Accounting Assistant, at PO Box 80, 400 North Broadway, Siloam Springs, AR 72761. Proposals will be received until 2:00 p.m. on Thursday, August 5th, 2021.
To: Auditing Firms
Subject: Request for Proposal
The City of Siloam Springs will be accepting proposals for Auditing Services for an annual audit and report. The annual audit will be in accordance with auditing standards generally accepted in the United States of America to include applicable standards of the Government Auditing Standards issued by the Comptroller General of the United States. Proposals must be received by Thursday, August 5th, 2021, 2:00 PM at the Finance Director’s office in the City Administration Building, 400 N. Broadway, Siloam Springs, Arkansas.
Proposals that are postmarked but not received until after this deadline will not be accepted.
All bid quotations shall be valid for 90 days after opening. Sealed proposals should be marked "Auditing Services" and hand delivered to the Accounting Manager at 400 N. Broadway, Siloam Springs, Arkansas, or mailed to:
"Auditing Services" , Attention: Accounting Manager, PO Box 80, Siloam Springs, Arkansas 72761
Request for Proposal:
The Respondent, by submitting a proposal agrees that any cost incurred in response to this RFP or activities associated with this request, is borne by the respondent and cannot be billed to the City of Siloam Springs.
The City of Siloam Springs invites interested firms to submit a proposal to provide the services for this report.
Respondents shall be expected to provide:
- Three copies of their written proposal.
- Projected cost for the annual audit, including a not to exceed amount for a one year and a three year engagement.
- Fee structure, including detailed expectations on reimbursables and expenses that may fall outside of stated fee.
- Brief description of the consulting firm and capabilities within your firm and specialized consultants, if any, that you anticipate will be required for this project. Please note that this RFP is not for the purpose of securing financial advice.
- Brief description of the history of your firm, number of people in your firm, and any changes to your structure (mergers, layoffs, partnership) in the last five years.
- Names, roles, and professional experiences of the people who will work on this project.
- Summary of your firm's experience with governmental audits.
- Provide references for at least ten governmental audits that you have done in the last three years that are most similar to the services being requested by City of Siloam Springs. Please include reference contacts for these audits.
- Estimated report issuance date annually.
- State whether services include a draft of the MD&A and financial statements with notes for management's review.
- State any exceptions taken to this Request for Proposal.
- An affirmative statement indicating that your firm and all assigned key professional staff are properly licensed to practice in Arkansas.
- Status of any disciplinary action taken or pending against your firm during the past five years with the state regulatory bodies of professional organizations.
- Provide a copy of your most recent Peer Review.
General Information and Requirements:
The right is reserved to reject any proposals and to accept the proposal which is deemed by the City of Siloam Springs to be in the best interest of the City. The City of Siloam Springs reserves the right to waive any irregularities and/or informalities in the bid process. Should the City elect to waive a right it will not constitute an automatic waiver of that right in the future nor will it impact any other right or remedy.
All proposals shall become the property of the City of Siloam Springs and shall not be returned.
In accordance with Arkansas law, all bids received, and all materials contained therein, once opened are public record. All items are subject to disclosure to any person and organization, to include other firms responding to this invitation to bid.
Proposers warrant by virtue of submission of bids that all prices, terms, and conditions stated shall be honored for a period of ninety (90) days after the opening of bids.
The original bid shall be signed by a corporate officer, partner, or proprietor with full authority to bind the business or firm submitting the proposal.
The selected bidder must also be able to finish financial statements by the end of June for timely filing of the Data Collection Form.
The City reserves the right to negotiate with the selected proposer the exact terms and conditions of the contract.
In the event the City of Siloam Springs fails to obligate requisite funds necessitating cancellation of the resultant agreement, the successful proposer shall agree to hold the City of Siloam Springs free from any charge other than authorized work completed.
The selected firm shall abide by the laws and regulations of the City of Siloam Springs, the State of Arkansas, and the United States of America. The firm may not discriminate against any person employed in the performance of services, or against any applicant for employment, for any legally prohibited reason.
Additional Information Requests:
If you have any additional questions or need any additional information, you may contact the City of Siloam Springs at (479) 238-0909.