Request for Proposal for Audit Services

The Town of Fuquay-Varina, located in Wake County, North Carolina, is seeking proposals for independent audit services through a Request for Proposal (RFP) for a three-year period from July 1, 2024, to June 30, 2027, with the first year being the only obligated year. The primary objective is to select a qualified auditor to perform comprehensive financial audits of the town's operations, which encompass all funds and entity-wide activities reported in the Annual Comprehensive Financial Report (ACFR), including governmental and proprietary funds. The selected auditor will be responsible for conducting financial audits in accordance with governmental accounting standards, performing interim and year-end fieldwork, and providing a management letter with recommendations. Proposals are due by 5:00 p.m. on Friday, April 11, 2025, and must be submitted electronically or by mail. The town requires the auditor to maintain specific liability insurance, comply with Government Auditing Standards, and submit 15 copies of the audit report. Evaluation criteria will consider not only cost but also the quality and comprehensiveness of the proposed audit approach, with unusually low bids potentially raising concerns about the proposed service quality.

While no specific set-aside designations or restrictions on responding organizations are explicitly mentioned, the RFP suggests a preference for experienced governmental auditors familiar with municipal financial reporting requirements. The town operates with 453 employees across 25 departments and maintains multiple funds, indicating the complexity of the audit work. No incumbent vendor information is provided in the available documentation. The RFP does not specify a precise budget range or award value, instead requesting bidders to determine and propose their own cost structure. The selected auditor will be expected to assist with financial statement preparation and submit required documentation to the Local Government Commission, indicating a comprehensive engagement that goes beyond traditional audit services. The town's approach suggests a comprehensive evaluation process that prioritizes technical expertise, audit methodology, and professional competence over cost alone.