SC Conservation Bank Audit

The South Carolina Office of the State Auditor (OSA) is soliciting proposals from certified public accountant (CPA) firms to conduct external audit services for the South Carolina Conservation Bank for fiscal years ending June 30, 2024 through 2028. The audit services must be performed in accordance with United States generally accepted auditing standards and Government Auditing Standards, with specific procedures to ensure compliance with applicable state laws and regulations. Deliverables include preliminary draft reports due by September 15 and final reports due by October 1 of each fiscal year. A pre-proposal conference is scheduled for March 11, 2024 at 9:30 a.m. at the OSA office in Columbia, with virtual participation available, and proposals are due on March 25, 2024 at 5:00 p.m. in PDF format via email. Evaluation criteria will prioritize technical qualifications and audit approach, with cost being a secondary factor. Proposers must provide all-inclusive maximum fees by staff classification and hourly rates for each fiscal year, and demonstrate comprehensive firm qualifications and experience with governmental audits.

The Request for Proposal does not explicitly mention set-aside designations or specific restrictions for disadvantaged enterprises. The audit will be for the South Carolina Conservation Bank, which is governed by a fourteen-member Board and located at 2711 Middleberg Drive in Columbia. The Bank will be responsible for payment of engagement fees, though OSA must approve all invoices before forwarding. The contract includes provisions for cancellation by either OSA or the successful proposer with 60 days written notice, or immediate termination in case of a failed peer review. The successful firm must retain workpapers for a minimum of six years and be subject to quality control reviews by OSA. While specific budget ranges are not detailed, proposers are required to submit comprehensive fee structures by staff classification for the five-year audit period. The contract allows for flexibility in engagement timing and includes strict compliance requirements with the South Carolina State Ethics Act.