1. Introduction
Jake's House invites proposals from qualified auditing firms to conduct a comprehensive financial audit for the fiscal year 2023-2024, with the potential for future engagements. Jake's House is particularly interested in engaging an auditor who possesses a strong track record in ensuring transparency, accuracy, and compliance with financial regulations and best practices. Additionally, the selected auditor should have the ability to provide valuable insights and recommendations to enhance Jake's House financial processes and controls.
2. Background
Founded in 2004, Jake’s House is a national registered charity both Provincially and Federally funded. Jake’s House mission is to provide meaningful support to families living with autism across the country. Recognizing that more than any other single issue, families dealing with autism need a community, Jake’s House is committed to growing a strong network of people who understand and care – a family, determined to provide tangible solutions at every stage of life.
In addition to growing a caring, committed community, Jake’s House offers a continuum of structured services to provide practical help today and lasting hope for tomorrow. Through four strategic offerings – social events for the whole family; mentoring programs for youth; employment opportunities for young adults; and housing for the aging population – Jake’s House supports individuals on the spectrum throughout their entire lifespans.
Through these events and services, as well as other strategic initiatives, Jake’s House strives to empower individuals with autism; offer their caregivers support and respite; raise awareness; share resources; and build a caring community. Jake’s House is dedicated to delivering assistance to those who need it right now, while also determined to establish a support system for future generations.
3. Scope of Work
The scope of the audit will include, but is not limited to, the following areas:
- Examination of financial statements, including balance sheets, income statements, employee expenses, profit & loss statements, payroll statements, and cash flow statements.
- Verification of the accuracy and completeness of financial records.
- Assessment of compliance with funding regulations, applicable accounting standards, and legal requirements.
- Evaluation of internal controls and risk management processes.
- Identification of areas for improvement and recommendations for enhancing financial processes and controls.
- Issuance of an audit report outlining the findings, conclusions, and recommendations.
4. Requirements
The auditing firm should meet the following requirements:
- Possess relevant experience in conducting financial audits, preferably in the non-profit sector reporting to multiple funders including the government.
- Demonstrate a strong understanding of accounting principles, regulations, and industry-specific requirements.
- Have a proven track record of delivering high-quality audit services with accuracy and attention to detail.
- Be independent and free from any conflicts of interest that may compromise objectivity and impartiality.
- Possess appropriate licenses and certifications necessary to perform audits.
- Provide references from past clients for similar audit engagements.
5. Proposal Submission
Interested auditing firms are requested to submit their proposals, which should include the following information:
- Company profile, including a description of the firm's experience and qualifications.
- Overview of the proposed audit approach and methodology.
- Proposed timeline and key milestones.
- Detailed breakdown of the fees and costs associated with the audit.
- Résumés of key team members who will be involved in the engagement.
- References from previous clients for similar audit projects.
6. Evaluation and Selection Criteria
Proposals will be evaluated based on the following criteria:
- Experience and expertise of the auditing firm in conducting financial audits.
- Compliance with requirements and understanding of the scope of work.
- Proposed audit approach and methodology.
- Qualifications and experience of key team members.
- Cost-effectiveness of the proposal.
- References from past clients.
7. Timeline
- RFP Issuance Date: May - June 2023
- Proposal Submission Deadline: June 30, 2023
- Evaluation Period: June – July 2023
- Contract Award: July – August 2023
8. Confidentiality:
All information provided in response to this RFP will be treated as confidential and used solely for the purpose of evaluating proposals. Jake’s house ensures that all submitted materials will not be disclosed to external parties without the prior written consent of the respective auditing firms.
9. Contact Information
For any inquiries or clarifications regarding this RFP, please contact:
Sonia Upadhya
Director, Operations & Strategic Projects, Jake’s House
P: 416-247-5253
This RFP does not guarantee or commit Jake’s House to proceed with the above-described work. Due to the overwhelming responses, not all candidates will be contacted.
We look forward to receiving your proposals and selecting a qualified auditor to partner with Jake's House in maintaining the highest standards of financial integrity.
