The vendor is required to provide financial statements audits services for the nine-month period ending march 31, 2026, and fiscal years ending march 31, 2027; march 31, 2028, and march 31, 2029:
• Preparation and presentation of the audit plan with the oversight leader to the audit committee – September to November.
• Interim audit work – between October and march.
• Year-end filed work must be completed by mid-may.
• Audit exit conference document must be prepared for discussion with management in mid-may, with the audit committee taking place at the end of May.
• Issue an auditor’s report to the auditor general on the entity’s board of governor’s approval of the consolidated financial statements.
• The auditor general will subsequently issue his auditor’s report to the entity along with any management letter comments typically by end of June.
• Examination of the entity’s annual report for consistency with the audited consolidated financial statements – before end of September.
- Work required
• The auditor general requires the assistance of the service provider – an agent - to perform audit work to enable the auditor general to issue an auditor’s report on the financial statements of the entity.
• The financial results of the entity are included in the consolidated financial statements of the agency; the controller of the agency issues a pro-forma financial statement template for all post-secondary institutions (PSIs) to follow.
• This template ensures consistency of reporting and disclosures by all PSIs and adherence to any specific agency financial reporting requirements, such as salary and benefit disclosures.
• We strongly encourage proponents to examine the financial statements in the entity’s annual report to understand the required reporting and disclosure.
• The proponent’s own methodology and apply the proponent’s own interpretations of accounting and auditing standards for purposes of the proponent’s own audit report, the proponent must perform any and all additional work necessary - in accordance with the auditor general’s direction - to support the auditor’s report to be issued by the auditor general according to the auditor general’s interpretations of accounting and auditing standards.
- Contract Period/Term: 1 year