04 External Audit

Description

KENTUCKY STATE UNIVERSITY (KSU) REQUEST FOR PROPOSAL (RFP) EXTERNAL AUDITING SERVICES RFP 24-04 Issue Date: February 29, 2024 Closing Date and Time: March 28, 2024, at 2:00PM Issued by: Fran Pinkston Kentucky State University Academic Services Building (ASB), Suite 429 400 East Main Street Frankfort, KY 40601 502-597-6434 Frances.Pinkston@kysu.edu Page 1 of 19 TABLE OF CONTENTS Section 10 – Purpose, Overview & Schedule............................................................................. 3 Section 20 – Background and Current Business Need .............................................................. 5 Section 30 – Procurement Requirements .................................................................................. 6 Section 40 – Scope of Work..................................................................................................... 11 Section 50 – Proposal Submission .......................................................................................... 13 Section 60 – Proposal Evaluation ............................................................................................ 17 Section 70 – Negotiations ........................................................................................................ 18 Section 80 – Attachments ........................................................................................................ 18 Page 2 of 19 SECTION 10 – PURPOSE, OVERVIEW & SCHEDULE 10.1 Purpose The purpose of this Request for Proposal (RFP) is to solicit proposals for External Audit Services from: • • Local or nationally recognized independent certified public accounting firms Firms specializing in accounting and auditing for both colleges and universities, or firms with extensive experience in accounting and auditing for corporations that would like to expand an existing higher education business The successful firm will be awarded a personal service contract in accordance with Kentucky procurement law and Kentucky State University’s established procedures. The selected firm shall be the external auditor of Kentucky State University and will, under this contract, examine the University’s financial statements in accordance with GAAP and government auditing standards for the purpose of issuing an independent auditor’s report. The firm will inform KSU’s management of any inherent weaknesses in controls, procedures, and policies, as well as any instances of noncompliance with applicable laws or regulations.