Financial Auditing Services

Solicitation # 54RCPR12314
Posted 4/11/25, 12:00 AM
No Updates
Due 4/24/25, 2:00 PM
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The North Carolina Department of Transportation (NCDOT) is soliciting proposals for financial auditing services for the North Carolina Turnpike Authority (NCTA) to support the State of North Carolina Annual Comprehensive Financial Report (ACFR) for the fiscal year ending June 30, 2025. The procurement seeks a qualified vendor to conduct a comprehensive financial audit in accordance with governmental accounting and auditing standards, which includes preparing audited financial statements and performing agreed-upon procedures for rate covenant evaluations. Vendors must demonstrate extensive experience with public sector clients, particularly toll agencies, and provide peer review reports from the past three years. The evaluation will utilize a best value methodology, considering technical approach, vendor experience, peer review reports, financial stability, cost, and any disclosed regulatory actions. The contract will have an initial one-year term beginning July 1, 2025, with options to renew for two additional one-year terms. Proposals are due on April 24, 2025, at 2:00 PM ET, and vendors must submit a detailed cost proposal with a maximum not-to-exceed amount and hourly rates.

The state actively encourages participation from Historically Underutilized Businesses (HUB) and aims to support diverse firms as 1st or 2nd tier subcontractors with a goal of 10% utilization. Vendors are required to submit financial stability documentation, including recent audited or reviewed financial statements, to demonstrate their economic viability. While no specific incumbent vendor is mentioned, the proposal suggests a competitive selection process that values both technical expertise and cost-effectiveness. The contract does not appear to have explicit restrictions on vendor types beyond the requirement for substantial public sector auditing experience. Although a specific budget range is not disclosed, vendors must provide comprehensive pricing details that will be evaluated as part of the overall proposal assessment. The procurement represents an opportunity for experienced financial auditing firms with strong governmental and toll agency experience to secure a potentially renewable contract with the North Carolina Turnpike Authority.

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