The selected auditing firm will conduct a comprehensive internal controls audit with the following objectives: Initial Engagement Scope (Required): ● Develop a comprehensive Risk Assessment and identify any areas of weakness ● Review and assess the existing policies and procedures manual ● Review policies, procedures, and operations of the Business Office, Human Resources Department, and the School Director's responsibilities ● Assess business office operations, including grant compliance, segregation of duties, and cross-training programs ● Evaluate alignment with the school’s DESE-approved charter and current Accountability Plan ● Assess the appropriateness of current procedures for self-managed charter school operations ● Identify areas of weakness in current internal control systems ● Identify operational gray areas and ambiguities requiring clarification ● Evaluate compliance with established policies and procedures ● Assess the adequacy of board governance and oversight mechanisms ● Review authorization and approval processes across all operational areas ● Evaluate segregation of duties and access controls ● Assess risk management frameworks and practices using established frameworks such as COSO (including the five components: Control Environment, Risk Assessment, Control Activities, Information and Communication, Monitoring) ● Propose a detailed testing scope to the Board following preparation of the Risk Assessment, including evaluation of accuracy, completeness, compliance, and proposed efficiencies ● Evaluate the adequacy and compliance of current administrative operations as part of the internal controls assessment, including recommendations for policy improvements and regulatory compliance ● Review this RFP process as part of the operational policy assessment to identify potential improvements for future operations Deliverables: ● Comprehensive internal controls assessment report ● Detailed findings and recommendations for policy improvements ● Implementation timeline for recommended changes ● Assessment of board governance oversight effectiveness with optional recommendations for improvement ● Optional board training recommendations (if governance gaps are identified during the assessment) ● Optional board training recommendations and governance consultation, if gaps are identified during the assessment, and SICS requests follow-up support. This engagement does not include preparation of audited financial statements, Form 990, or any aspect of the school’s annual 501(c)(3) financial audit.
