Specifications include, but are not limited to: SCOPEOFWORK/SPECIFICATIONS The scope of this RFP is to audit the financial statements and related note disclosures of the State Accident Insurance Fund (SAIF) for the calendar year ending December 31, 2024 (including subsequent calendar years, if authorized by the Agency). The awarded proposer shall conduct the audit in accordance with the following requirements: • Generally Accepted Accounting Principles (GAAP), • Government Auditing Standards, issued by the Comptroller General of the United States. • Statutory Accounting Principles (SAP) published by the National Association of Insurance Commissioners. • Insurance Commissioner’s Model Audit Rule including the requirement that the lead audit partner not act in that capacity for more than five (5) consecutive years.
