External Auditing Services

The vendor required to provide audits shall be conducted in accordance with generally accepted audit standards (GAAS) and will comply with ministry and public sector accounting board (PSAB) standards.
- Annual engagements
•    The year-end audit shall include the examination of the records and consolidated financial statements of the board for years ending august 31st.
•    These audits will take place on school sites and the board will have input in the audit questionnaire used.
•    Audits consist of:
o    Review and appraise the adequacy and application of financial and other operating and internal controls 
o    Review compliance with board procedures as they relate to school generated funds 
o    Evaluate the timeliness, accuracy and usefulness of the school’s records and reports 
o    Ensure school generated funds are complete, are properly accounted for and safeguarded from loss 
o    Comment on the extent to which funds raised are used efficiently, effectively and for the purpose stated prior to the funds being raised
•    Enrolment audit of two schools per year (1 elementary, 1 secondary) to review compliance with ministry regulations and board procedures.
- Other audit engagements
•    Audit engagements may arise from time to time in other areas such as the audit of specific grant programs.
- Annual audit requirements
1. The consolidated financial statements
•    The board’s finance team will perform all accounting work including all year end adjusting and accrual entries, and supporting schedules.
•    The board has a regional internal audit function that performs audits according to an annual plan.
•    The auditors are expected to review and assess if they can rely on the internal audit work performed to reduce the required work to complete the annual audit.
•    The responsibilities of the auditors, with respect to the annual consolidated financial statements, will be limited to the preparation of the financial statements, the expression of an opinion and discussions.
2. Post audit - management letter
•    Give comments and observations on the accounting records, systems, and controls that were examined during the course of the audit.
•    Identify specific deficiencies and areas of weakness in systems and controls and make recommendations for their improvement; and
•    Include management's comments in the final management letter.
- Other engagements
•    For any special engagements that may arise during this contract period, additional audit staff and hours may be required. 
•    The estimate should detail expected auditor hours by major audit task, the staff level proposed to do the work on each task, and the hourly rates to be charged by staff level. 
•    Total cost should be provided as well.
- Auditor performance requirements
•    The term of the engagement, the auditor’s performance requirements will be reviewed on an annual basis based on the following criteria and the engagement may be terminated if the auditor’s performance is deemed to be unsatisfactory.
- Fiscal audits
•    Fiscal year ending august 31, 2026
•    Fiscal year ending august 31, 2027.
- Budget: $170 million

- Contract Period/Term: 2 years
- Questions/Inquires Deadline: November 17, 2025