Request for Proposal For Audit Services

The Blue Ridge Community College Foundation in North Carolina is soliciting proposals for comprehensive audit services through a Request for Proposal (RFP) for fiscal years ending June 30, 2026, 2027, and 2028. The selected audit firm will be responsible for conducting full financial audits in compliance with Generally Accepted Accounting Principles (GAAP), Generally Accepted Auditing Standards (GAAS), and Generally Accepted Government Auditing Standards (GAGAS). Required deliverables include an Independent Auditor's Report, audited financial statements (Statement of Financial Position, Statement of Activities and Changes in Net Assets, and Statement of Cash Flows), comprehensive notes to financial statements, a management letter with internal control improvement recommendations, and suggestions for administrative enhancements. The RFP specifies a rigorous evaluation process prioritizing the firm's experience in nonprofit auditing, assigned staff qualifications, audit procedures, and the most recent peer review report, with cost considered secondarily. Proposals are due by 3:00 p.m. on March 2, 2025, and must be submitted to Susan Malloy at the Foundation's offices in Flat Rock, North Carolina. The contract will be awarded for one year with options to renew for up to two additional years, creating a potential three-year engagement.

The RFP does not specify any specific set-aside designations or restrictions for disadvantaged enterprises. The contract will require a comprehensive cost proposal that itemizes billing amounts for each fiscal year and includes a maximum not-to-exceed amount for the entire contract term. Costs must remain firm throughout the contract period, with no increases permitted unless new audit requirements are introduced. Technical proposals must include client references, key personnel resumes, anticipated staff hours, the firm's audit philosophy, peer review reports, and disclosure of any regulatory actions against the firm or key personnel in the last three years. The audit timeline is precisely defined, with initial meetings scheduled by June 1, documentation due by July 31, preliminary audited figures to be submitted by September 5, and final audited records and Form 990 to be completed by mid-October, with the electronic Form 990 filed by November 15. Either party may terminate the agreement with written notice prior to January 1 of any contract year. While no specific budget range is explicitly stated, the comprehensive requirements suggest a substantial professional services contract for a nonprofit educational foundation.