RFP 170-4438-25 Audit Services_Addendum 1.docx

This document is Addendum No. 1 to Request for Proposal (RFP) 170-4438-25 for Audit Services issued by the Oregon State Treasury, modifying the original RFP published on June 18, 2025. The solicitation seeks an external audit firm to conduct comprehensive audits of Private Markets investment sub-programs, specifically targeting Real Assets and Private Equity for the Oregon Public Employees Retirement Fund (OPERF) and State Accident Insurance Fund (SAIF). The RFP is open from June 18, 2025, to July 18, 2025, with anticipated audit periods in October/November 2025 for Real Assets and February/March 2026 for Private Equity. The addendum specifically updates the minimum qualification requirements, changing the certification requirements to either CPA or CIA Certification for Partner/Director and Engagement Manager, with an additional requirement that an individual from the engagement team must have CFA certification.

The evaluation will be comprehensive, with a total possible score of 1,200 points, including 700 points for technical evaluation and 250 points for pricing. The solicitation includes a strong emphasis on business diversity through a Certified Disadvantaged Business Outreach Plan, encouraging participation from various certified business categories including Disadvantaged Business Enterprises (DBE), Minority-Owned Businesses (MBE), Woman-Owned Businesses (WBE), Service-Disabled Veteran-Owned Businesses (SDV), and Emerging Small Businesses (ESB). The Treasury anticipates awarding one contract to a single proposer, though vendors can propose for one or both programs. While no specific budget range is explicitly stated, the contract will be deliverable-based with a maximum compensation limit to be negotiated, and includes provisions for potential amendments contingent on receiving sufficient funding and expenditure authority.