The State is seeking to contract with firms to provide various auditing services to ensure compliance, transparency, and financial integrity. This program will be designed to provide the State with a full spectrum of audit service options in the following Service Categories: Financial Audits: Designed to ensure revenue and expenditures are fairly and accurately recorded in compliance with the agency’s financial reporting standards. This includes but is not limited to verifying that the financial statements and transactions are accurate, complete, valid, consistent, timely, assessing internal controls, analysis of indirect costs, and budgets. This could include agreed upon procedures’ engagements. Compliance Audits: Designed to ensure that the agency processes are compliant with relevant laws, regulations, policies, and contractual obligations. This could include agreed upon procedures’ engagements or conducting control and compliance audits of IT systems to ensure adherence to state and federal regulations, focusing on application controls, reporting, cybersecurity, and data governance. Performance/Operational Audits: Designed to assess the efficiency, effectiveness and accuracy of agency business activities. These audits evaluate whether agency goals were achieved, resources were utilized effectively, and if agency operations deliver the intended outcomes within anticipated timelines.
