The IDA is seeking proposals for Technical and Professional Services to provide Auditing Services for their Financial Statements of both the OCIDA and the Corporation from qualified firms of certified public accountants to audit financial statements for the fiscal years ending December 31, 2025, through December 31, 2027. Minority Business Enterprises and Women’s Business Enterprises are encouraged to apply. In addition to the above audit services, management consulting services may be required on an as needed basis. Such services may include, but will not be limited to, consultations regarding 4 accounting principles and method of application and suggestions for improving internal control. Proposers must demonstrate skill and expertise in the area of auditing, particularly with industrial development agencies and public benefit corporations subject to oversight as public authorities by the Authorities Budget Office. The objectives of the audits are: ■ To determine that the financial statements present fairly the financial positions and results of operations. ■ To determine that management assertions regarding economic actions and in the financial statements are verifiable, properly classified and disclosed. ■ To determine the extent to which management assertions on the financial statements conform to established policies, criteria, standards, rules, regulations and applicable statutes ■ To communicate to the boards of directors the auditors' conclusions in an auditor's report. ■ To communicate to the boards of directors the auditors' conclusions, in the form of a Management Letter regarding any existing material weaknesses in fiscal accounting procedures, or internal controls, and any other matters that may come to their attention, along with any recommendations for corrections and improvements. ■ To provide a report on Internal Controls related to the financial statements and major programs and an opinion on compliance with policies, laws, regulations, and the provisions of contracts or grant agreements, noncompliance with which could have a direct and material effect on the financial statements. ■ To provide Statements of Financial Position, Statements of Activities, and Statements of Cash Flows and a review and report on investments. ■ To separately provide summary financial information to management for each entity in the standard Authorities Budget Office format for input to the PARIS reporting system.
