HUD-5369-B.pdf

This is a Request for Proposals document from El Pueblo Housing Development (EPHD), a municipally affiliated 501(c)(3) nonprofit subsidiary of the City of Tucson, Arizona, seeking qualified accounting firms to provide comprehensive outsourced accounting and financial management services. EPHD develops, finances, owns, and preserves affordable housing utilizing multiple funding sources including LIHTC equity, HOME, CDBG, ARPA/SLFRF, Arizona Department of Housing funds, tax-exempt bonds, vouchers, and philanthropic sources. Proposers may submit applications for accounting services, audit services, or both services combined, provided that firms offering both services demonstrate strict independence safeguards in accordance with the AICPA Code of Professional Conduct and Government Auditing Standards (Yellow Book).

Organizations submitting proposals for combined accounting and audit services must implement the following independence requirements: maintain separate engagement teams for accounting and audit functions, designate separate engagement partners for each service line, ensure that no audit team members prepare accounting records subject to audit, retain EPHD management's full responsibility for financial statements, designate a qualified individual to oversee accounting services, provide written independence representation annually, and submit the most recent external peer review report with the proposal. These safeguards are mandatory to ensure compliance with professional standards and audit independence requirements.