Scarborough Centre for Healthy Communities (SCHC)
Request for Proposal - Auditor Services
February 11, 2019
The purpose of the RFP - Auditor Services is to invite and select External Auditors / Audit Firms with the qualifications, experience and expertise to audit the financial statements for SCHC for a period of five (5) years. The award will be made in accordance with the contents of the RFP (Request for Proposal). Period of the award will be for a five (5) year period, with SCHC having the option to extend the award on an annual basis, for up to two (2) additional years. Notwithstanding the award to the successful firm, the appointment of SCHC's auditors is still subject to annual approval by its members, at each Annual General Meeting (AGM).
The primary responsibility of the selected auditor will lbe to provide annual auditor services to the SCHC. The selected auditor will be required to:
- audit SCHC’s financial statements, year-end schedules to the financial statements each fiscal year ending March 31, and, in accordance with GAAP & GAAS;
- assist and advise with drafting notes to the financial statements to include in the necessary disclosures;
- review final draft audited statements with SCHC’s Finance, Audit and Risk (FAR) Committee in preparation for presentation to the Board of Directors;
- use fund accounting in the income statements and advise on accounting changes per IFRS for not-for-profit / charitable organizations;
- audit additional funder statements per their prescribed format:
(i) ARR – Account Reconciliation Report required by Central East Local Health Integration Network – CELHIN
(ii) Ministry of Health and Long Term Care (MOHLTC) – Diabetes Program;
- requirements may vary from year to year;
- complete the annual audit questionnaire required by the Ministry of Health and Long Term Care (MOHLTC), if required
- issue a Management Letter for SCHC;
- conduct other special audit engagements as required (e.g. grant funding) or provide professional advice (e.g. HST);
- Prepare and submit, within their respective deadlines (and after required signatures are collected), all government (at all levels) returns and legislatively mandated filings and forms (e.g. corporate return, T3010 Charitable tax return, etc.;
- The selected auditor will report to the Finance, Audit and Risk (FAR) Committee of the Board of Directors of SCHC and to the Board itself.
Annual Schedule:
Before March 31st of each year, SCHC’s auditor shall meet with SCHC’s finance staff to discuss and agree upon the timelines required for the completion of the audit of financial statements for the current year. Agreement is to be reached on the audit plan for the interim and year-end audits (the “Audit Plan”), which should include but is not limited to:
- the extent and type of SCHC staff involvement, where applicable;
- a list of necessary schedules, working papers, analysis and other information to be prepared and made available by SCHC’s finance staff for interim and year-end audit at convenient date agreed to by SCHC & the auditor;
- the auditor is required to provide SCHC with a Letter of Engagement accompanied by the Audit Plan each year and to include any recommendations from the auditor to complete the year-end audit;
- the audited financial statements must be reviewed with SCHC’s Finance, Audit and Risk (FAR) Committee before the audited statements are presented to the Board of Directors on or before the first week of June each year.
Evaluating the Auditor’s Performance:
During the term of the contract, the auditor’s performance will be evaluated based on the following criteria:
It is expected that the successful respondent to the RFP keep to their fees quoted. The proposal requirements have been drafted with the intent of providing to the auditor sufficient details to allow for the preparation of a detailed bid that incorporates the SCHC’s audit requirements. It is expected that the bids reflect these key requirements as any fees to be charged outside the scope of this proposal shall require the advance approval of the SCHC Board or its designate.
For the initial year of the engagement, the proposed auditor’s staff assigned to the audit should be those originally proposed. Any subsequent changes to audit personnel must be acceptable to the SCHC Board or its designate.
It is expected that the audit senior will be available throughout the audit fieldwork and will provide regular updates to the CEO as to the status of the audit and any issues that may arise.
It is expected that the audit will be carried out in the manner proposed. Any changes in the audit program which impact staff and/or other resources of SCHC shall be discussed with and agreed to by the SCHC Board or its designate.
It is expected that the audit will be completed within the time frames specified in this RFP.
RFP Schedule:
- RFP Release - February 11, 2019
- Final Date for RFP Inquiries - February 22, 2019 at 4 p.m. Eastern Standard Time
- Final Date for responses to RFP Inquiries - February 28, 2019 at 11:59 p.m. Eastern Standard Time
- RFP Closing Date - March 11, 2019 at 4 p.m. Eastern Standard Time
- Auditor Interviews (if requested by SCHC) - Week of March 25, 2019
- Selection Completed (approximate date) - April 15, 2019
The RFP schedule is tentative and may be changed by SCHC at its sole discretion.
Proposal Submission Guidelines:
Communication subsequent to issuance of RFP
The Client Representative is:
Ms. Jeanie Joaquin – Chief Executive Officer
Scarborough Centre for Healthy Communities
E-mail: jjoaquin@schcontario.ca
Prospective auditors are prohibited from contacting any staff to obtain any information pertaining to this RFP, RFP Process, or to demonstrate or justify the prospective auditor’s services or relay other benefits of doing business with SCHC. It is inappropriate for the auditor to initiate contact with any member of the RFP Evaluation Committee or any other staff unless specifically requested to do so by the Client Representative. Please note that it is inappropriate for prospective auditors to engage in any entertaining of any staff member connected with this RFP. Any prospective auditor who fails to comply with this requirement will be disqualified from the bidding process.
When and Where to Submit a Proposal:
To be eligible for consideration, proposals must be received by 4:00 p.m. Eastern Standard Time (EST) on March 11, 2019 (“RFP Closing Date”), in the office of SCHC in a sealed envelope or package labeled “Proposal for Auditor Services” to the following address:
SCHC
629 Markham Road, Unit 2
Scarborough, ON, M1H 2A4
Attn: Jeanie Joaquin, Chief Executive Officer
Late proposals will not be accepted and will be returned unopened. It is the auditor’s responsibility to ensure that proposals are submitted on or before the RFP Closing Date.
