Independent Audit Services

Overview

Financial, Legal, HR & Staffing

Albany, New York, United StatesPosted 2 months agoDeadline: April 13th, 2026

Fit Score

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SUMMARY

Albany, NY is requesting vendors for a five-year contract to deliver annual financial audits and actuarial reviews for a government pension system.

KEY REQUIREMENTS

Bidding firm must have at least seven years of experience providing auditing services to Public Employee Retirement Systems (PERS).
The partner assigned to the contract must have at least seven years of experience providing auditing services to PERS.
The awarded contractor shall make auditor's work papers and communications with NYSTRS available for review by the New York State Department of Financial Services (DFS).
Bidder must be in compliance with all applicable laws, rules, and regulations during contract performance.
Consultant must carry applicable insurance coverage and minimum liability limits as specified in Appendix D.
Bidder must have legal authority to conduct business in New York State and be appropriately registered.
NYSTRS reserves the right to conduct background checks for any staff assigned to the contract.
Bidders must complete the attached Technology Questionnaire (Exhibit 3) or provide an SSAE-18 Type II Certification report(s), Consensus Assessments Initiative Questionnaire (CAIQ), or a similar assessment.
Bidders must complete the Conflict of Interest Disclosure (Exhibit 4).

BUDGET

Estimate

$2,500,000 – $10,000,000

CONTRACT DURATION

60 months

TIMELINE

RFP Issued: March 2, 2026

Last Date for Inquiries: March 16, 2026

Responses to Inquiries/Clarifications Sent Out: March 30, 2026

Response Due Date: April 13, 2026, 1:00 p.m. (ET)

Interview of Semi-finalist(s) by Evaluation Committee: Week of June 22nd, 2026

Interview of Finalist(s) by Audit Committee: Week of September 7th, 2026

NYSTRS Retirement Board Approval: October 29th, 2026

Award: November 3rd, 2026 (on or about)

QUESTION DEADLINE

March 16th, 2026

Issuing Agency

New York State Teachers' Retirement System

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DESCRIPTION

A government authority in Albany, New York is seeking a vendor to provide independent audit services for its pension system. The scope includes conducting an annual audit of the System's financial statements in compliance with professional audit standards, with the initial audit covering the fiscal year ending June 30, 2027.

Additionally, the selected vendor will perform an independent actuarial review of the assumptions, methods, and procedures used by the system’s actuary, focusing on calculations for pension benefit obligations and employer contributions for the plan.

The contract will span five years, ensuring continuity in both annual financial audits and actuarial reviews.

Source attribution

This Settle analysis is based on the issuing organization’s public RFP listing.