218150 - Annual Financial Audit Services

The purpose of this request for proposal (RFP) is to select a qualified firm and/or individual to provide annual audit services for the City of Prince George (the City).

Audits must be planned and executed in accordance with Canadian generally accepted auditing standards and the provisions of the Local Government Act and Community Charter.  Audits will result in an opinion to the City’s Council as to the fairness of the annual consolidated financial statements and related schedules. 

The Auditor should have experience and expertise in performing municipal audits, be free of any obligations or interests that may conflict or affect their ability to perform and act as the auditor of the City, and have the capacity to provide this service in a timely manner.

The Supplier will fulfil the City’s audit requirements under the Community Charter by reporting to the Finance and Audit Committee and Council on the City’s annual financial statements.  The City’s auditors will liaison closely with City during the audit process.  The City must submit its annual audited financial statements to the Inspector of BC Municipalities by May 15th, following the City’s calendar fiscal year-end.

The Supplier may be requested, from time to time,  to audit special projects or programs as requested by other levels of government, government agencies, or other funders.  Typically these projects or programs are on a small scale and the audits may be undertaken as part of the regular audit process.  Please provide additional audit charges that will apply to this proposal, and if so, your charge rate for these services.  Also, the Supplier may be required to provide  consultation throughout the year, GST, income tax, Public Sector Accounting Standards (PSAS), International Financial Reporting Standards (IFRS), audit inquiry legal letter, and Community Charter, interpretations are some of the issues that typically arise during the year