2025, 2026, 2027 Financial Statement Audit - PERS and RIO

The North Dakota Office of the State Auditor is seeking a Certified Public Accounting (CPA) firm to conduct comprehensive financial statement audits for the North Dakota Public Employees Retirement System (PERS) and the Retirement and Investment Office (RIO) for fiscal years 2025, 2026, and 2027. The Request for Proposal (RFP) #117-25-04 requires an independent audit of combined and individual fund financial statements, pension-related schedules, and compliance testing, with on-site work initially required in Bismarck, North Dakota. The evaluation will use a 100-point scale, with 80 points allocated to the technical proposal (40 points for methodology, 25 points for management plan, and 15 points for experience/qualifications) and 20 points for the cost proposal. Bidders must meet specific minimum qualifications, including statutory authority to conduct audits in North Dakota, a recent peer review rating of "pass", independence in professional standards, and significant governmental audit experience. The proposal responses are due on April 23, 2025, with the contract anticipated to start in May 2025 and fieldwork to be completed by September/October 2025.

The RFP does not specify any explicit set-aside designations or restrictions for disadvantaged enterprises. Previous audit contract maximum fees have ranged from $111,720 to $126,600 for RIO and $111,934 to $123,600 for PERS in recent fiscal years, suggesting a potential total contract value between $220,000 and $250,000 for the three-year period. The contract will be a firm fixed-price arrangement, with payments made within 45 calendar days of receiving a correct invoice. The successful contractor will be responsible for all travel costs within the contractual amount and must maintain specific insurance coverages, including commercial general liability, professional errors and omissions, automobile liability, and workers compensation. The audit results will be incorporated into the State of North Dakota's Annual Comprehensive Financial Report (ACFR), and the contract requires compliance with state and federal laws and nondiscrimination requirements.