Addendum 1 - Audit Services

CERTIFICATE OF ACKNOWLEDGMENT OF RECEIPT OF ADDENDUM

 

THE CITY OF READING

 

ADDENDUM NO. 1RFP:                   RFP – Audit Services
 
DUE DATE:      May 25, 2018
                            3:00 P.M. Prevailing Time

 

NOTICE

 

This addendum must be signed, attached to, and returned with your proposal to the City of Reading by the time and date indicated ABOVE:

 

Q1. The 12/31/16 audit is available online but not the 12/31/17 audit. Can you provide a copy of the 12/31/17 audit if it has been completed?

 

A1. The 12/31/17 audit is not yet complete.

 

Q2. Your 12/31/16 audit wasn’t completed until January 2018. Why was completion delayed?

 

A2. A critical component was not available until late in 2017.

 

Q3. The RFP scope on page 12 states that the City intends to submit its comprehensive annual financial report to the GFOA for review in its Certificate of Achievement for Excellence in Financial Reporting program. Would the 12/31/18 audit be the first time the City has participated in this program?

 

A3. Yes.

 

Q4. How many audit adjustments were made last year and to what did they relate?

 

A4. A number of adjustments were made in a number of areas. Those numbers are down in 2017.

 

Q5. Is your current auditor being invited to bid?

A5. Yes

Q6. Can you disclose the previous year’s audit fee?

A6. $68,500

 

Q7. How long (and how many) were the auditors in your offices last year (as best you can remember)?

 

A7. Two to three people for several weeks.

 

Q8. What is your required and preferred timing for audit?

 

A8. The GFOA requires that the audit be complete by June 30 for submission of a CAFR.

 

Q9. Is the scope of services requested in this RFP consistent with the services now being provided by your current audit firm?

 

A9. Yes

 

Q10. Were there any problems or disagreements with the prior auditors?

A10. No

Q11. Who drafts the financial statements and notes?

A11. The auditor

Q12. Have there been any significant operational changes since the prior year’s audit?

A12. No

Q13. Has there been any material fraud noted over the past 5 years?

A13. No

Q14. Are there any contingencies or legal issues that could have an impact on future financials?

 

A14. There are always legal cases in progress. We expect no significant judgements at this time.

 

I, HEREBY CERTIFY THAT THE CHANGES COVERED BY THIS ADDENDUM HAVE BEEN TAKEN INTO ACCOUNT.

 

Firm Name (Type or Print)____________________________________________

 

Authorized Signature________________________________________________

 

Title_____________________________________________________________

 

Name (Type or Print)________________________________________________

 

Date______________________________________________________________