Annual Audit of Unemployment Insurance Trust Fund

The South Dakota Department of Labor and Regulation is seeking an independent public accounting firm to conduct annual audits of the Unemployment Insurance Trust Fund for fiscal years 2025 through 2029. The Request for Proposal (RFP) requires two distinct cost proposals: one for a financial component audit and another for a comprehensive financial and single audit. Most years are expected to require only the financial component, with fiscal year 2027 potentially necessitating a full audit including compliance review. Bidders must be licensed by the South Dakota Board of Accountancy and submit a Quality Review Report, along with references from at least two similar previous contracts. The proposal evaluation will focus on specialized expertise, technical competence, resource availability, past performance, project management techniques, and ability to handle project constraints. Key deadlines include a proposal submission due date of April 30, 2025, with an anticipated award and contract negotiation date of May 12, 2025. Inquiries must be emailed to Emily Ward at Emily.ward@state.sd.us with the subject line "RFP #25RFP14178" by a specified date, with responses to be posted on the state's e-procurement system.

There are no specific set-aside designations or restrictions on organizational types mentioned in the procurement documents. The initial contract term is one year for auditing the fiscal year 2025 report, with options to extend annually through 2029. While a specific budget range is not explicitly stated, the RFP requires bidders to provide detailed pricing for both the financial component and full audit scenarios. Travel costs will not be separately reimbursed, and bidders are expected to include any anticipated inflationary increases beyond the state's annual cost of living adjustment within their proposal. The accounting firm must demonstrate staff qualifications, including years of experience, audit staff locations, and compliance with continuing education requirements for Government Auditing Standards. Bidders will need to provide comprehensive information about their team's expertise, including professional certifications, previous relevant work, and the ability to meet the state's rigorous audit requirements for the Unemployment Insurance Trust Fund.