ESBD_510674_1778248556461_TRS000679_Solicitation_Addendum_1_Final.docx

This is Addendum Number 1 to a Request for Proposals issued by the Teacher Retirement System of Texas (TRS) for Professional Audit Services under Solicitation Number TRS000679. The addendum documents the Pre-Proposal Conference held on May 7, 2026, at 3:00 p.m. Central Time via Microsoft Teams, providing vendors with attendance information and supplementary materials including presentations on the Procurement and Vendor E-System (PAVES) and VetHUB opportunities. The RFP seeks a qualified audit firm to provide comprehensive financial statement audits, Government Accounting Standards Board (GASB) schedules, internal controls and compliance reviews, and required supplementary information for fiscal years 2026 through 2032. Key personnel requirements include an engagement partner with a minimum of ten years of relevant CPA experience and an engagement lead with at least three years of relevant CPA experience. The initial contract term is two years from the effective date with three optional one-year renewal terms available. Respondents must acknowledge receipt of this addendum by signing and dating the cover page and including it with their submitted response, as failure to do so may result in a non-responsive proposal determination.

The addendum lists nine audit firms and their representatives who attended the pre-proposal conference, including Sikich, Plante Moran, RSM US LLP, Weaver, Crowe, BDO, CLA, Eide Bailly, and MGO, along with contact information for each participant. TRS staff members from Procurement & Contracts, Internal Audit Division, and Business Intelligence attended from the agency side. Mandatory qualifications for respondents include a minimum of five consecutive years of pension plan professional audit services experience, demonstrated experience serving as group auditor for group financial statements audits in accordance with AICPA AU-C Section 600A, current and maintained business and professional licenses and certifications, and submission of the most recent peer review report. The contractor must maintain Professional Liability Insurance of $2 million per occurrence and $5 million in the aggregate, as well as Security and Privacy Liability Insurance of $10 million in the aggregate. The RFP does not identify any specific set-aside designations, and TRS has determined that no probable subcontracting opportunities exist; however, should subcontracting become necessary, prior written approval from TRS is required.