Request for Proposals for Financial Statement Audit

The purpose of this Request for Proposals (RFP) is to select an independent public accounting firm to conduct an audit of the Corporation's financial statements (hereafter referred to as "the financial statement audit") for the fiscal year ending September 30, 2017, under a fixed-price contract (contract). This RFP includes options for two (2) additional fiscal years ending September 30, 2018 and September 30, 2019, to be exercised at the sole discretion of the OIG. The contracted-for services will include presenting the completed audit results to the LSC Board of Directors and preparation of LSC's Federal tax return (IRS Form 990 - Return of Organization Exempt from Income Tax).     

Scope of Work: The Contractor shall audit the Corporation's FY 2017 financial statements for the purposes of satisfying GAO's Government Auditing Standards requirements. The Contractor shall:

•1.     Determine and report on whether LSC's financial statements, including notes to the financial statements, are fairly presented in all material respects in conformity with generally accepted accounting principles;

•2.     Determine and report whether LSC's internal controls provide reasonable assurance of achieving the internal control objectives of the audit;

•3.     Determine and report on whether LSC has complied with applicable laws, regulations, contracts, and grant agreements which could have a direct and material effect on the financial statements;

•4.     Present the completed audit results to the LSC Board of Directors; and

•5.     Prepare LSC's Federal tax return (IRS Form 990 - Return of Organization Exempt from Income Tax.