Financial Auditing Services

The Vendor is required to provide financial auditing services for 2025-2027.
- Include all duties required under the MGA, auditing standards, and other applicable acts.
•    Perform procedures to obtain audit evidence regarding the amounts and disclosure in the consolidated financial statements; 
•    Audit procedures using a professional auditor’s judgement, including assessment of risks of material misstatements of the consolidated financial statements, whether due to fraud or error;
•    Make assessments and consider internal controls relevant to the town’s and affiliates preparation and fair presentation of the consolidated financial statements to design audit procedures that are appropriate in the circumstances; and
•    The appropriateness of the accounting policies used and the reasonableness of accounting estimates made by management and evaluate the overall presentation of the consolidated financial statements.
- Duties, responsibilities and deliverables of external auditing services
•    Prepare the non-consolidated statements, consolidated statements and the financial information return as required by the MGA; 
•    Prepare the corporate tax return for the town; 
•    Provide an expression of an opinion on the external financial statements and the financial information return; 
•    Provide a written report (management letter) highlighting any concerns surrounding the town’s internal controls and suggestions that may improve the overall operations of the town; 
•    Presentation of consolidated financial statement and annual finding to council, including indicators of financial condition report; 
•    Prepare and submit the family and community support services program review engagement report as required under the funding agreement; 
•    Option to provide additional advice and assistance on specific accounting items at the town’s request (examples could include investment reconciliation and related entries, aro year-end entries, future financial system migration considerations, etc.) additional fees in accordance with pricing provided under 4.2 b3 below may be applied 
•    Provide ongoing advice and counsel relating to new requirements, interpretations of rules and regulations, and ensure the town and associated municipal agencies are informed as to new developments and trends pertinent to municipal finance and accounting; and (i) an annual review of grant expenditures may be required.
- Audit planning
•    Prior to November 30th of each year, present the audit plan to the administration with a schedule of responsibilities and deadlines and required documents; 
•    Prior to November 30th of each year, present the high-level audit plan to the finance committee and to provide the committee the opportunity to discuss potential areas of concern; 
•    By December 31st each year to complete most substantive and internal control testing along with interim findings; 
•    An onsite or virtual audit must be scheduled prior to march 20th of each year, and the audit shall be completed within the hours of 8:00 am-4:30 pm MST;
•    Prior to April 15th of each year, the audited financial statements and financial information return shall be completed; communication of results and findings made to management and council; and 
•    As per the MGA, compliance reporting must be returned to state municipal affairs by May 1st of each year.

- Contract Period/Term: 3 years
- Questions/Inquires Deadline: August 8, 2025