The vendor is required to provide forensic audit services for dedicated leadership staff to support work facilitation and communications.
• Examine financial records and accounting practices for the period January 1, 2022 through December 31, 2024.
• Identify any instances of fraud, embezzlement, or financial misconduct
• Assess the adequacy and effectiveness of internal controls
• Evaluate compliance with applicable accounting standards and regulations
• Review cash management and disbursement procedures
• Analyze revenue recognition practices and accounts receivable management
• Examine procurement processes and vendor relationships
• Investigate expense reporting and reimbursement procedures
• Assess payroll processing and employee compensation practices
- Financial records review:
• General ledger analysis and journal entry testing
• Bank reconciliation verification
• Asset verification and inventory counts
• Accounts payable and receivable analysis
• Credit card and petty cash transactions
- Internal controls assessment:
• Segregation of duties evaluation
• Authorization and approval processes
• Documentation and record-keeping practices
• IT controls and data security measures
• Management oversight and monitoring procedures - Risk assessment:
• Identification of fraud risk factors
• Analysis of unusual transactions or patterns
• Review of related party transactions
• Assessment of management override capabilities
- Deliverables:
• Detailed work plan: comprehensive project timeline and methodology
• Interim progress reports: regular status updates throughout the engagement
• Draft forensic audit report: for management review and comment
• Final forensic audit report: including findings, recommendations, and management letter
• A presentation of findings to the board of directors or designated committee
• Documentation: all supporting work papers and evidence (as appropriate).
- Questions/Inquires Deadline: June 12, 2025