Financial Auditing Services

Providence, Rhode Island is requesting proposals for financial statement audits over a three-year contractual period.

Audits must be performed by qualified firms of certified public accountants.
Audits must be performed in accordance with auditing standards generally accepted in the United States of America and Government Auditing Standards.
Audits must be performed in accordance with OMB Guidance 2 CFR part 200 - Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
Audits must follow minimum requirements established by the Office of the Auditor General of the State of Rhode Island and the Department of Education.
Auditors must report on tests of compliance with Uniform Chart of Accounts (UCOA) requirements in an agreed-upon procedures compliance attestation format.
Proposals must include three copies of a detailed proposal, a table of contents, a transmittal letter, a statement of qualifications, and executed Proposer Guarantee and Proposer Warranties.
Auditor must express an opinion on the fair presentation of the basic financial statements.
Auditor must perform limited procedures for required supplementary information mandated by the Governmental Accounting Standards Board.
Auditor must express an 'in-relation-to' opinion on supplementary financial statements and schedules.
Auditor must audit major programs as required by OMB Guidance 2 CFR part 200, if applicable.
Auditor must report on the Tax Collector's Annual Report as supplementary information.
Auditor must report on the Annual Supplemental Transparency Report (MTP2) as supplementary information.
Auditor must attend at least one Town Council and one School Committee meeting each year.
Auditor must conduct an exit conference at the conclusion of each audit.
The audit firm must be independent and licensed to practice in Rhode Island.
The audit firm's professional personnel must have received adequate continuing professional education.
The audit firm must have no conflict of interest with the Town of North Smithfield.
The audit firm must submit a copy of its most recent external quality control review report.
The audit firm must adhere to the instructions in the request for proposal.
The senior accountant in charge of the fieldwork must be a certified public accountant.
The audit organization and individuals responsible for planning, directing, conducting substantial portions of fieldwork, or reporting on government audits must meet continuing educational requirements of Government Auditing Standards.
The audit organization must identify any sub-contractors, co-proposers, or other entities used.
The audit organization must have professional liability insurance coverage of not less than $1 million.
The audit organization must have an appropriate internal quality control system in place and participate in an external quality control review program.
All audit documentation and reports must be retained for a minimum of five years.
The firm must respond to reasonable inquiries of successor auditors and allow review of audit documentation.
The audit firm must release all information obtained to the Rhode Island State Auditor General as required by Section 45-10-4 of the RI General Laws.
Proposer must be willing and able to comply with State of Rhode Island laws regarding foreign corporations.
Proposer must be willing and able to obtain an errors and omissions insurance policy.
Proposer must not delegate or subcontract responsibilities without the express written permission of the Town of North Smithfield.
Proposer warrants that all information provided in connection with the proposal is true and accurate.

$250,000 – $500,000

Requests for proposals issued: March 3rd, 2026

Proposals due: March 24th, 2026 at 10:00am

Formal bid opening: March 25th, 2026 at 10:00am

Selected firm notified: April 7th, 2026

Engagement letter executed: April 20th, 2026

Contract date: July 1st, 2026

All records ready for audit: August 31st, 2026

Auditor recommendations/revisions due: November 15th, 2026

Draft auditor's report delivered: December 1st, 2026

Final reports delivered to State Auditor General and State Director of Revenue: December 31st, 2026

Town Of North Smithfield

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The government authority in Providence, Rhode Island seeks a vendor to conduct financial auditing services. The selected firm will be responsible for auditing the financial statements for the fiscal year ending June 30, 2026. Additionally, there is an option to audit financial statements for each of the two subsequent fiscal years, providing a potential three-year contract.

These services are integral for ensuring financial transparency, accuracy, and compliance with applicable regulations. The contract will span three years, ensuring continuity and consistency in financial oversight for the authority during this period.

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