Request for Proposals For FY25 Auditors (Closed)
This RFP is closed.
Proposals Due: March 21, 2025
Overview
Our organization is accepting proposals to provide audit services in the future. We invite your firm to submit a proposal for engagement to us for consideration.
Services to Be Performed
Please cover the following services:
1. Annual audit to be completed in compliance with the above filing requirement and meetings with the Executive Director, Director of Finance and/or Board of Directors as necessary.
Key Personnel
Below are key contacts for information you may seek in preparing your proposal:
Dr. Kandace Thomas, Executive Director
Maurica Jackson, Director of Finance & Operations
Tomeka Hart Wigginton, First 8 Memphis Board Chair
In responding to this request, we request the following information:
1. Detail your firm’s experience in providing auditing and tax services to companies in the not-for-profit sector, as well as associations of a comparable size to First 8 Memphis.
2. Identify the partner and manager who will be assigned to our job if you are successful in your bid and provide biographies. Indicate any complaints against them that have been leveled by the state board of accountancy or other regulatory authority, if any. Indicate any corrective actions that have been taken by the firm with respect to these people.
3. Describe how your firm will approach the audit of the organization, including the use of any association or affiliate member firm personnel and the areas that will receive primary emphasis. Also discuss the firm’s use of technology in the audit. And finally, discuss the communication process used by the firm to discuss issues with the management and audit committees of the board.
4. Set forth your fee proposal for the FY25, FY26 and FY27 audit as F8M is looking for a three-year contract. Provide transparency around whatever guarantees can be given regarding increases in future years. Provide your proposed fee for the required quarterly review work and for tax preparation.
5. Furnish standard billing rates for classes of professional personnel for each of the last three years.
6. Describe how and why your firm is different from other firms being considered, and why our selection of your firm as our independent auditor is the best decision we could make.
7. Include a copy of your firm’s most recent peer review report, the related letter of comments, and the firm’s response to the letter of comments.
Evaluation of Proposals
First 8 Memphis will evaluate proposals on a qualitative basis. This includes our review of the firm’s peer review report and related materials, interviews with senior engagement personnel to be assigned to our organization, results of discussions with other clients, and the firm’s completeness and timeliness in its response to us.
Please submit your response to this request for proposal by March 21, 2025. Interviews for the highest rated firms will be conducted between March 24, 2025 and May 2, 2025.
