The vendor is required to provide the state auditor with annual financial audits of workforce safety and insurance for fiscal years 2025, 2026, and 2027.
- The firm must provide an opinion on the supplementary financial information in relation to the financial statements taken as a whole.
- Audits will be done in accordance with generally accepted auditing standards; government auditing standards issued by the comptroller general of the country and guidelines to independent certified public accountants performing audits of state agencies, issued by the auditor.
- Provide the following to achieve the objective of this project:
• Draft audit report to be reviewed by the state auditor’s office, including the management letter and any informal recommendations made to the client.
• Include a representative of the state auditor’s office in entrance and exit conferences
• A final financial statement report in one, searchable, unprotected pdf file with bookmarks for the table of contents items for both the state auditor’s office and the client
- The certified public accountants (CPA) firm will also perform each of the following tests:
• Examine the fixed asset equipment additions and deletions for property
• Physically inspect a sample of equipment items.
• Determine that a physical inventory was taken.
• Examine recorded liabilities and perform a search for unrecorded liabilities, to ensure that expenditures were charged to the proper fiscal year, and proper biennial appropriation.
• Determine whether receipts are being deposited into the appropriate fund(s), and disbursements are from the appropriate fund(s).
• Determine whether all state funds are deposited with the bank of state
• Determine whether the client complied with legislative intent included in appropriation law
• Determine whether there were emergency commission or budget section changes to client’s appropriation amounts.
• If changes were authorized, confirm the related expenditures complied with the documented intent of the submitted request.
• Select a sample of administrative expenditures and determine compliance with management policy and state purchasing requirements with an emphasis on contracting for services.
• Determine the legality of investments.
• Determine that all public moneys were paid over to the state treasurer, unless the state treasurer has appointed the bank of state as an agent for the purpose of receiving public moneys and were disbursed only pursuant to appropriation made by the legislature.
- The audit report must also include the following (as applicable):
• Independent auditor’s report
• Management’s discussion and analysis
• Financial statements as required by standards
• Notes to the financial statements
• Required supplemental information
• Supplementary information
1. Statement of appropriations
2. Schedule of attorney fees
3. Costs and loss development information
• Government auditing standards required reports
• Findings, recommendations, and agency response
• Schedule of findings and questioned costs
• Summary schedule of prior audit findings.
- Questions/Inquires Deadline: February 28, 2025