The vendor is required to provide an opinion on the fair presentation of the combined and combining financial statements (each individual fund) of the office for the years ending June 30, 2025, 2026, and 2027.
- Public employee retirement system
• The firm must provide an opinion on the supplementary financial information (other than the combining statements) in relation to the financial statements taken as a whole.
• The firm will report on required supplementary information in accordance with the current guidance from the institute
• For multi-employer pension funds, the firm shall express an opinion on the fairness of the “schedule of employer allocations” and “schedule of pension amounts by employer” and related notes to the schedules
• For the retiree health insurance credit fund, the contractor shall express an opinion on the fairness of the “schedule of employer allocations” and “schedule of postemployment benefits other than pension amounts by employer” and related notes to the schedules
• The firm shall perform testing of census data (as detailed in the SLGEP pension whitepaper series or updated guidance).
• Audits will be done in accordance with generally accepted auditing standards; government auditing standards issued by the comptroller general of the country, special considerations of single financial statements and specific elements, accounts, or items of a financial statement, and guidelines to independent certified public accountants performing audits of state agencies, issued by the auditor.
• The firm will also follow the guidance of the institute audit and accounting guide “audits of state and local governmental units,” any other applicable institute audit and accounting guide.
• Pers did not receive or expend federal funds during the previously contracted audits and does not anticipate receiving federal funds in the future.
- Risk management
• The contractor will take appropriate measures to ensure the safety of their employees, state employees, the public, and property.
• The contractor must identify any potential risks, issues and problems associated with the project and identify ways to mitigate those potential risks.
- Questions/Inquires Deadline: March 26, 2025