The Financial Oversight and Management Board for Puerto Ricoissued Tuesday a request for proposals for qualified and experienced certified public accounting firms interested in providing audit services for the federally appointed body in the future.
The entity is looking for a firm to cover the audit of the financial statements of the Oversight Board to be completed in accordance with generally accepted auditing standards. The audit report must be issued to the Board by the second week of August 2017, the agency said.
Areas that the Board believes are relevant in its consideration and selection process of a certified public accounting firm are: responsiveness in the completeness and conformity of the proposal to the RFP requirements; experience including, but not limited to the qualifications and work experience of key personnel assigned to the audit and experience in governmental financial audits.
The firm must also have the capacity of adequate personnel who can reasonably respond to the Oversight Board’s needs with demonstrated knowledge, skills, and abilities to perform required services competently; the appropriateness and adequacy of proposed procedures, reasonableness of time estimates and total audit hours, size and structure of the CPA firm and appropriateness of assigned staff levels, and the overall cost of the audit over the contract period.
The RFP may be downloaded from the Board’s website under the “DOCUMENTS” section.
The deadline for responses to the RFP from interested service providers is 5 p.m. on April 24.