Audit Services

The vendor required to provide that audit services 2026-2029.
- Requirements
•    In 2025-2026, the division budget is for total revenues of $137 million, with operating expenses of $133.4 million and capital expenditures of $8.6 million. 
•    The division’s fiscal year runs from September 1 to august 31.
•    the audit will include the examination of the operations, records, and financial statements of the division in accordance with the auditing requirements set by the ministry of education for the period covering the fiscal years ending august 31, 2026, august 31, 2027, and august 31, 2028. 
•    Division staff will perform all accounting work, including year-end adjusting and accrual entries and prepare draft financial statements and supporting schedules. 
•    Division staff will also provide the auditor with access to all relevant and requested information and will provide access to other staff as required. 
•    The ministry of education for the 2024–2025-year-end of division. 
•    This would likely be typical of every audit of division. 
•    There may also be direct involvement by the office of the provincial auditor from year to year. 
•    An annual audit services plan for division is presented to the audit and risk management committee in May or June of each year. 
•    Management letters that identify areas of concern or weaknesses encountered in the examination of the financial statements, recommendations for improvement, and management’s response to the concerns raised. 
•    Consultations throughout the year with management, the board of education, and the audit and risk management committee as changes are made to accounting standards and as issues arise within the public sector. 
•    Division may require additional services from the office of the auditor.
- Annual audit of financial statements
1. Systems and procedures review (interim audit)
•    An annual systems and procedures review (interim audit) will be conducted each year. 
•    The early spring, the audit firm shall meet with division administration staff to establish dates, staffing and areas of concern to be reviewed during the interim audit. 
•    The review should be completed by June 30, and findings should be discussed with the supervisor of finance. 
•    The purpose of this review before the commencement of the annual audit is to identify any conditions that might otherwise not be reported until after the audit is completed.
•    The auditors will immediately, upon discovery of information that could lead to the inclusion of a statement of qualifications with respect to division financial statements, inform and discuss such matters with the supervisor of finance.
- Before June 30 of each year, the auditors and senior division staff will meet to define a schedule of joint activities for the final audit.
•    The key dates when required information is to be assembled by both parties.
•    The dates which the auditor will begin the financial statement audit, the number of audit personnel to be present and their expected departure date.
•    Final audit work is done in October.
- Annual financial statements
•    The deadlines set out in the annual schedule, typically by late October to early November.
•    The auditors will provide such information pertaining to the statements as requested by the board of education and attend a meeting of the board.
- Management letter
•    The auditors will prepare a post audit management letter that relates any concerns regarding the internal accounting and controls and other matters of material importance with respect to the division’s operations that may have been discovered in the course of the audit.
•    The auditors will also provide recommendations as to corrective actions that may be required and be prepared to provide advice with regard to the implementation of these measures if asked to do so.
•    The management letter will be presented to the audit and risk management committee.
- Budget: $137 million

- Contract Period/Term: 3 years
- Questions/Inquires Deadline: November 19, 2025