Audit Services and Forensic Audit Services

Madison County, Iowa is requesting proposals from certified public accounting firms and forensic accounting firms to provide annual audit services for fiscal year ended June 30, 2025, and forensic audit, financial reconstruction, and internal control review services, with proposals due August 24, 2026 at 5:00 p.m. and questions due by July 17, 2026. Firms may bid on Part A (annual audit) only, Part B (forensic services) only, or both parts; the County reserves the right to award either part separately or to a single firm.

Part A covers the standard annual audit. Part B addresses forensic audit, financial reconstruction, and internal control review of financial records, reconciliations, fund balances, and internal controls, with specific focus on matters identified in prior County audits and findings affecting the FY2025 audit. The forensic engagement must be completed by December 31, 2026, with preliminary assessments within 30 days of award, interim findings by October 15, 2026, draft reports by November 30, 2026, and final reports by December 31, 2026.

Proposals will be evaluated on cost, qualifications, governmental audit experience, staffing, and schedule for Part A; and governmental forensic experience, methodology, team qualifications, ability to address prior audit findings, and cost for Part B. Firms must submit estimated total hours, out-of-pocket expenses, hourly rates by staff classification, and not-to-exceed amounts for each part.

The selected firm must maintain Commercial General Liability Insurance of at least $1,000,000 per occurrence/$2,000,000 aggregate, Comprehensive Automobile Liability Insurance of $1,000,000, and Workers Compensation Insurance as required by law, with Madison County named as additional insured. Working papers must be retained for a minimum of five years and made available to authorized County staff, successor auditors, the Iowa State Auditor's Office, law enforcement, insurers, and legal counsel as authorized by law.

Submissions must include three sealed hard copies and one sealed digital copy (USB) to the County Auditor at 112 N. John Wayne Drive, Winterset, Iowa 50273. Bid opening and firm selection are anticipated between August 25 and September 1, 2026. The contract term is one year with either party able to terminate with 90-day written notice.