Professional auditing services

The Town of Bristol, Rhode Island is seeking professional auditing services through a competitive Request for Proposal (RFP) designated as Bid #1060. The procurement is specifically for comprehensive financial statement audits for the fiscal year ending June 30, 2025, with optional extensions for the subsequent two fiscal years. Qualified certified public accounting firms are invited to submit proposals to conduct audits in accordance with Government Auditing Standards, the Single Audit Act, and OMB Guidance. The evaluation process will utilize a 100-point scoring system, with 40 points allocated to qualifications, 30 points for audit approach, and 30 points for pricing, explicitly noting that cost is not the primary selection factor. Proposals are due by 12:00 PM on April 16, 2025, with an anticipated contract execution by June 1, 2025. Key deliverables include a complete financial statement audit, with the selected firm required to maintain professional liability insurance of at least $1 million and demonstrate independence under professional standards.

The RFP does not specify explicit set-aside designations or restrictions for disadvantaged enterprises. Bidders must submit a detailed breakdown of professional fees by staff level, including standard and quoted hourly rates. While no incumbent vendors are mentioned, the contract allows for potential two-year extensions at the town's discretion. The total all-inclusive maximum price for audit services is expected to cover all direct and indirect costs, including out-of-pocket expenses. Any additional work beyond the initial scope will require prior written approval from the Town Treasurer, and the auditing firm will be responsible for any penalties or fines resulting from audit deficiencies. Although a specific budget range is not provided, the comprehensive nature of the audit and the potential multi-year engagement suggest a significant professional services contract for a qualified accounting firm with expertise in municipal financial auditing.