Municipal Audit Services - 5 years
- Organization: The Municipality of Temagami
- Location: Temagami, Ontario, Canada
- Deadline: January 31, 2025
Request for Proposal #2024-01
External Audit Services for 2024–2029
Issued By: Municipality of Temagami
Issue Date: Dec. 20, 2024
Submission Deadline: Jan. 31, 2025, 4 p.m. EST
Contact: Laala Jahanshahloo, CAO/Treasurer
Email: cao@temagami.ca
Table of Contents
1.Purpose and Scope
2.General Terms and Conditions
1.Definitions
2.Proposal Submission Requirements
3.Proposal Validity
4.Rights Reserved by Municipality
3.Specific Terms and Conditions
4.Scope of Services
5.Evaluation Criteria
6.Appendices
1.Purpose and Scope
The Municipality of Temagami is seeking proposals from qualified external auditors to perform professional auditing services for a five-year term (2024–2029). The selected proponent will ensure:
•Compliance with Section 296(3) of the Municipal Act, 2001.
•Integrity and accuracy of financial reporting.
•Public trust through adherence to governance best practices.
The successful proponent will be responsible for auditing the Municipality’s financial statements, providing actionable recommendations, and ensuring compliance with applicable legislation and accounting standards.
The RFP document is comprehensive but would benefit from additional clarity and enhanced protections in the following areas:
•Broader PSAB compliance requirements.
•Cybersecurity measures.
•Risk and contingency planning.
•Explicit insurance and indemnification provisions.
2.General Terms and Conditions
2.1 Definitions
•Municipality: Corporation of the Municipality of Temagami.
•RFP: This document in its entirety.
•Proposal: A completed submission by a proponent.
•Proponent: An individual or entity submitting a proposal.
•Deadline: Submission deadline outlined in this document.
2.2 Proposal Submission Requirements
Proposals must include the following:
1.Corporate Profile: Overview of the proponent’s qualifications, certifications, and relevant experience.
2.Approach and Methodology: Detailed audit plan outlining processes, deliverables, and expected outcomes.
3.Key Personnel: Resumes of team members, their roles, and proof of licensure under the Public Accountancy Act.
4.Cost Proposal: Comprehensive fee breakdown, including fixed and variable costs.
5.References: Contact information for three clients with similar engagements.
6.Compliance Template: Signed MFIPPA Compliance Template (Appendix A).
Submission Instructions:
•Format: PDF only.
•Delivery: Email submissions to cao@temagami.ca with the subject line: RFP External Audit Services Submission.
•Deadline: 4 p.m. EST, Jan. 31, 2025.
Late Submissions: Proposals received after the deadline will not be considered. Email timestamp will be used to verify submission time. Proponents are responsible for confirming receipt.
2.3 Proposal Validity
Proposals must remain valid for 90 days from the submission deadline.
2.4 Rights Reserved by the Municipality
The Municipality reserves the right to:
•Reject any or all proposals.
•Modify or cancel the RFP process.
•Accept proposals based on criteria beyond price, such as local experience or unique expertise.
3.Specific Terms and Conditions
3.1 Term of Agreement
•Initial Term: Five years, starting fiscal year 2024.
•Renewal: Option to extend for an additional five years, subject to satisfactory performance.
3.2 Adjustments to Scope
Once the RFP has been awarded, any changes to the scope that are required due to updates to legislation or funding requirements shall be communicated in writing. Any necessary adjustment to the contract and fees for audit services shall require a written agreement signed by both parties.
3.3 Insurance Requirements
Proponents must provide proof of professional liability insurance, with minimum coverage of two million dollars ($2,000,000.00).
3.4 Indemnification Clause
The successful proponent will indemnify and hold harmless the Municipality of Temagami from all claims, liabilities, damages, and expenses arising from any errors, omissions, or negligence during the performance of services.
4.Scope of Services
The scope of services includes, but is not limited to:
1.Annual Financial Statement Audits
-Conduct audits of consolidated and non-consolidated financial statements.
-Assess internal controls and provide recommendations.
2.Tangible Capital Assets (TCA)
-Ensure compliance with PS 3150, focusing on valuation, amortization, and reporting.
3.Broader PSAB Compliance
-Review financial practices for compliance with all applicable PSAB standards, including PS 1201 (Financial Statement Presentation) and PS 3450 (Financial Instruments).
4.Canada Community-Building Fund (CCBF) Compliance
-Audit compliance with the Municipal Funding Agreement (MFA). Deliverables include a report detailing funding usage and compliance with program requirements.
5.Cemetery Fund Compliance
-Review in accordance with the Funeral, Burial, and Cremation Services Act,2002.
6. Financial Information Return (FIR)
-Prepare and certify the FIR for submission to the Ministry of Municipal Affairs.
7. Asset Retirement Obligations (ARO) Compliance
-Review compliance with PSAB PS 3280, including identification, valuation, and reporting of liabilities such as decommissioned facilities or landfill sites.
8. Cybersecurity Measures
-Assess compatibility with city while ensuring data security and compliance with best practices for cybersecurity protocols.
9. Reporting and Recommendations
-Provide management letters detailing areas for improvement and risks.
5. Evaluation Criteria
Criteria Description Weight Qualifications and
Experience Relevant certifications, municipal experience, and licensure. 30%
Approach and Methodology Clarity and effectiveness of proposed audit methods. 30%
Fee Structure Transparency and cost-effectiveness of fees. 20%
References Feedback from similar engagements. 10%
Timelines and Responsiveness
Ability to meet deadlines and communicate effectively. 10%
Scoring Scale
• 0-1: Response significantly lacking or incomplete.
• 2-4: Met some expectations but lacked detail.
• 5-6: Met minimum expectations with sufficient detail.
• 7-8: Exceeded expectations with robust content.
• 9-10: Greatly exceeded expectations with innovation.
Weighted scores will guide the selection process, but the Municipality retains the right to
reject any or all proposals.
6. Schedule of Events
Event Date
RFP Issued: 12/20/24
Deadline for Questions: 01/17/25
Submission Deadline: 01/31/25
Proposal Opening: 02/03/25
Proposal Review and Scoring: 02/06/25
Council Approval: 02/13/25
7. Appendices
Appendix A: MFIPPA Compliance Template
Signed acknowledgment of compliance with the Municipal Freedom of Information
and Protection of Privacy Act (MFIPPA).
Appendix B: Conflict of Interest Declaration Template
Proponents must declare any potential conflicts of interest.
Contact Information
For more information, contact:
Laala Jahanshahloo
CAO/Treasurer
Municipality of Temagami
Email: cao@temagami.ca
Telephone: 705-569-3421