Audit Services

The Vendor is required to provide annual audit services for a five-year period beginning with the fiscal year ending June 30, 2026.
- Supplier is expected to plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether caused by error, fraudulent financial reporting or misappropriation of assets.
- Supplier must examine on a test basis, evidence supporting the amounts and disclosures in the financial statements, and supplier must assess the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.
- Supplier will be expected to perform tests of internal controls over financial reporting and tests of compliance with certain provisions of laws, regulations, contracts, and grant agreements.
- These tests should contribute to the evidence supporting your opinion on the financial statements.
- Supplier will be expected to express a separate opinion on the fair presentation of two sets of financial statements: the university’s general financial statements and state public media’s financial statements.
- A report on internal control over financial reporting and on compliance and other matters is required for the compliance report.
- Supplier will need to provide a management letter to the university indicating deficiencies or opportunities for accounting and reporting improvements.
- Any reportable conditions or material weaknesses must be specifically identified.
- In addition to observations regarding accounting and reporting matters, supplier will be required to obtain an understanding of the university’s information technology (IT) control environment.
- The supplier’s findings and recommendations in this area must be included in a separate section of the management letter.
- Supplier will be expected to disclose irregularities and illegal acts that become apparent as a result of this engagement.
- Supplier shall present the audit committee letter and the results of the engagements at the September and November board of trustees meetings each year, respectively.
- Contract Period/Term: 5 years
- Questions/Inquires Deadline: April 23, 2025