RFP 75-02042026 Addendum #1 Response to Vendor Questions Final.pdf

RFP 75-02042026 Audit Services

ADDENDUM #1 Response to Vendor Questions

Reference Vendor Question Response

Section 5.4, page 16

Can you provide a copy of the FY25 audit report? Or the most recently issued audit, if not FY25.

The most recently issued audit report is publicly available and can be accessed on the College’s website.

Section 4.1, page 12 What were the prior year audit fees? Do you have a budget for fees for the current year?

The College does not disclose its audit services budget during an active procurement.

Section 5.4, page 16 How many adjustments did the auditor make for the most recent audit?

Information related to audit adjustments is included in the published

ACFR.

Section 5.0, page 16 How many days are anticipated for on-site planning and control testing as well as final on-site fieldwork?

Vendors should propose the level of effort they believe is appropriate based on the scope and requirements outlined in the RFP.

Section 5.0, page 16 When is planning fieldwork anticipated and when is final fieldwork typically performed?

General timing expectations are described in the RFP. Vendors may propose a schedule that aligns with those requirements.

Section 1.0, page 5

Section 1.0 reads that ACC must submit financial information for the ACFR in August, but the audited financial statements are not required until December.

Could you explain the purpose of this timing gap and how the State uses the unaudited information submitted earlier? Is there an expectation that any portion of the audit is completed prior to the submissions in August to the State Controller and in September to the State Auditor?

The timing reflects State reporting requirements. Unaudited information is submitted for statewide reporting purposes, while audited statements follow later in the year. There is no expectation that audit procedures be completed prior to the August or September submissions.

https://www.alamancecc.edu/_resources/images/bot/031025%20Board%20of%20Trustees%20packet%20updated.pdf

Section 5.4, page 16 Are there any improvements you would like to see in the audit process?

The College is seeking proposals that demonstrate each vendor’s recommended approach. The College is not providing internal assessments or preferences beyond what is stated in the RFP.

Section 4.1, page 12

Why is the College requesting a proposal? (i.e. rotation cycle, fresh perspective desired, governing board request, cost)

The College is conducting this procurement in accordance with standard competitive purchasing requirements.

Section 5.4, page 16 Please comment and/or provide a listing of findings or comments made by the auditor to the governing body.

Any findings that are part of the public record are included in the

Audit Report or ACFR.

Section 5.3, Page 16

What computer systems are used for general ledger operations? Which systems manually interface with the general ledger? Which systems automatically interface with the general ledger?

The College uses Ellucian Colleague for general ledger operations.

Interfaces may be manual or automated depending on the subsystem.

Section 5.3, Page 16 How many years have the current auditors being serving the College?

This question does not pertain to the clarification or interpretation of the RFP.

Section 5.3, Page 16 Has there been any disagreement with the current auditor firm? If yes, please provide some background on the issue.

This question does not pertain to the clarification or interpretation of the RFP.

Section 5.4, page 16 What are the most important factors when considering a new auditor?

The evaluation criteria are outlined in the RFP. Proposals will be assessed solely on those published criteria.

Section 4.1, page 12 Will the College need assistance outside of the audit with implementation of GASB 103 in FY26?

If assistance outside the scope of the audit is anticipated, it will be addressed separately. Vendors may describe any relevant expertise in their proposals.

Section 1, page 7 Can you provide a copy of your most recent audited financial statements?

The most recently issued audit report is publicly available and can be accessed on the College’s website.

Section 5.1, page 18 Were there any out-of-scope services included in these fees the last few years?

No

Section 5.3, page 16 Will your current auditors be included in the RFP process?

The College is conducting this procurement in accordance with standard competitive purchasing requirements.

https://www.alamancecc.edu/_resources/images/bot/031025%20Board%20of%20Trustees%20packet%20updated.pdf

Section 5.4, page 18 Have there been any disagreements with your auditors regarding accounting matters?

This question does not pertain to the clarification or interpretation of the RFP.

Section 5.4, page 18 Are there journal entries typically identified or recorded by the auditors? If so, what is the nature and magnitude of the entries?

This question does not pertain to the clarification or interpretation of the RFP.

Section 5.4, page 18 Are there any areas within the audit or the entity's operations that impact the audit that is of special concern to management?

The College is seeking proposals that demonstrate each vendor’s recommended approach.

Section 5.4, page 18 Is the transition to a new auditor a concern? If so, why?

What would lessen your concerns?

This question does not pertain to the clarification or interpretation of the RFP.