Request for Proposal (RFP) – Forensic Audit Services

Request for Proposal (RFP) for Forensic Audit Services

Town of Burkittsville
PO Box 485
Burkittsville, MD 21718

October 6, 2024

Introduction

The Town of Burkittsville, MD is seeking proposals from qualified firms to conduct a forensic audit of its financial records for the past five years. This audit aims to ensure transparency, accountability, and accuracy in our financial operations. We invite experienced auditors to submit proposals that demonstrate their expertise and approach to forensic auditing.

Background

The Town of Burkittsville, MD has undergone various financial transactions over the past five years, including budget allocations, expenditures, and grants. Recent concerns regarding financial discrepancies have prompted the need for a comprehensive forensic audit to investigate and validate these records.

Objectives

The primary objectives of the forensic audit are to:

1. Identify any financial irregularities or discrepancies.
2. Evaluate compliance with applicable financial regulations and policies.
3. Assess the adequacy of internal controls and financial management practices.
4. Provide recommendations for improving financial processes and controls.

Scope of Work

The selected firm will be expected to:

1. Review financial statements, budgets, and accounting records from the past five years.
2. Conduct interviews with key personnel involved in financial operations.
3. Analyze transactions for unusual patterns or anomalies.
4. Assess the effectiveness of existing internal controls.
5. Prepare a detailed report outlining findings, including any identified irregularities and recommendations for corrective actions.

Proposal Requirements

Firms responding to this RFP must include the following in their proposals:

1. Company Profile: Background information about the firm, including years in business and areas of expertise.
2. Team Qualifications: Resumes of team members who will be involved in the audit, highlighting relevant experience in forensic auditing.
3. Approach and Methodology: A detailed description of the proposed approach to conducting the audit, including tools and techniques to be used.
4. Timeline: An estimated timeline for completing the audit and delivering the final report.
5. Cost Proposal: A detailed breakdown of costs associated with the audit, including any additional fees that may apply.
6. References: Contact information for at least three previous clients for whom similar services were provided.

Submission Instructions

Proposals must be submitted electronically to townoffice@burkittsville-md.gov by November 6, 2024. Late submissions will not be considered. Questions regarding this RFP can also be directed to townoffice@burkittsville-md.gov.

Evaluation Criteria

Proposals will be evaluated based on the following criteria:

• Experience and qualifications of the firm and its team members.
• Understanding of the project scope and methodology proposed.
• Quality of references provided.
• Cost-effectiveness of the proposal.

Timeline

• RFP Issued: October 7, 2024
• Proposal Submission Deadline: November 6, 2024

Conclusion

The Town of Burkittsville looks forward to receiving your proposal and working together to ensure the integrity of our financial operations. Thank you for your interest in this important project.