TAFA Financial Audit

The Texas Department of Agriculture is requesting qualifications for financial audit services to the Texas Agriculture Finance Authority for fiscal year ending August 31, with sealed responses due March 20, 2026, and a pre-proposal vendor conference on February 26, 2026. A 20 percent or higher VetHUB utilization goal applies to contracts valued over $100,000; all respondents must submit a completed HUB Subcontracting Plan regardless of subcontracting intent.

The scope encompasses a comprehensive financial statement audit including preparation and editing of financial statements and schedules in accordance with GASB-established GAAP, a Management's Discussion and Analysis, an independent auditor's report, a written review of the Authority's accounting system and financial procedures, evaluation of financial reporting internal controls with remediation recommendations, communications with those charged with governance, a management letter, and sample reviews of all transactions covering all active programs for the period September 1 through August 31. Interim and final fieldwork must occur no later than mid-summer, with engagement delivery in hybrid format combining remote and on-site components. All audit work must be completed by October 25 annually to meet Comptroller deadlines; failure to meet this deadline is reportable to the Comptroller's Vendor Performance Tracking System. The Authority recently received $100 million in non-federal funding anticipated to increase transaction volume in existing loan and financial assistance programs. Respondents must hold current Texas Identification Number, current business filings with the Texas Comptroller and Secretary of State, current payment of all state and local taxes and fees, and a score of C or greater in the Comptroller's VPTS. Current Texas licensure as a Certified Public Accountant is required.

The contract is estimated to exceed $100,000, with a term from the effective date through June 30, 2027, and renewal options for up to three additional one-year periods through June 30, 2030. Proposals are evaluated under best value using three equally weighted criteria: Past Performance, Qualifications and Experience (35%); Proposed Plan for Service Delivery and Demonstrated Ability to Perform (30%); and Reasonableness of Proposed Cost (35%). Written questions are due March 2, 2026. Contractor must maintain comprehensive general liability insurance ($1,000,000 per occurrence / $2,000,000 aggregate), professional liability insurance ($1,000,000 per claim / $2,000,000 aggregate), cyber liability insurance ($1,000,000 per occurrence), and workers' compensation insurance per Texas statute, with all policies naming the State of Texas and TAFA as additional insureds. Data security compliance with NIST SP 800-53, TX-RAMP, PCI DSS, OWASP, AES 128-bit encryption, TLS 1.2 or above, and quarterly vulnerability reporting is required.