The work which is taken on by an outside firm provides an opinion for City Council as to the fairness of the Consolidated Financial Statements and related schedules.
Among some of the guidance for those looking to submit a bid is the scope of service expected by the City from any auditing firm.
The Auditor will be required to examine the financial records, systems and controls of the City of Prince Rupert in accordance with Canadian Auditing Standards, the provisions of the Local Government Act and Community Charter, and to then provide written audit reports with an audit opinion on the consolidated financial statements as prepared by City staff for the City of Prince Rupert.
This is a public sector audit. The public and legislators have high expectations that public officials will conduct business in a proper and prudent manner, giving every regard to City of Prince Rupert – RFP External Auditor Page 7 of 12 spending taxpayers’ money wisely.
The Auditors should remain alert during the engagement for:
Lack of accountability in the use and management of public monies
Instances of waste or misuse of public resources
Lack of probity in behaviour
Lack of compliance with financial and other legislation
Any instances should be reported in the management letter.
Other areas of interest towards delivering the annual audit to the city include:
How the work will be in compliance with the Community Charter, Council will appoint an Auditor (or Audit Firm) for audit services; however, other firms may be used for other audit services if it is deemed more advantageous or appropriate to do so.
The City notes from their bid documentation that it expressly reserves the right, at its sole discretion, to use other audit services it deems appropriate from other audit firms. As well it, wishes to be advised of any weaknesses in internal control noted during the audit or other areas of concern, prior to the issue of the Management Letter. The Auditor shall provide appropriate beneficial suggestions to improve areas of concern.
The Auditor shall communicate in a post‐audit report and in the form of a Management Letter to the City Council any reportable conditions, as determined by the Auditor, found during the audit.
The RFP is for a contract that will last three years, with the deadline for submissions set at July 30th at 3 PM.
The selected firm will be appointed to provide external audit services for a period of three years (with the option to extend for another two years) beginning with the annual audit for the fiscal year ending December 31, 2020, to the fiscal year ending December 31, 2022 inclusive.
As part of the Introduction to the call for proposals, the City highlights that the Auditor should have
experience and expertise in performing municipal audits, be free of any obligations or interests that may conflict or affect their ability to perform and act as Auditor of the City, and have the capacity to provide this service in a timely manner.
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| City of Prince Rupert CFO Corinne Bomben is the point person for the city's quest for a financial auditor for the next three years or more |
Any inquiries towards the request should be directed to the City's Chief Financial Officer, Corrine Bomben.
Ms. Bomben can be reached at: Tel: 250-627-0935 Email: corinne.bomben@princerupert.ca
The 2019 Financial Audit was conducted by Carlyle Sheppard and Company, with Ms. Bomben relaying some of their findings at the May 27th Council Session.
The full audit from 2019 can be examined from City of Prince Rupert website.
The full Request for Proposals can be explored further from the BC Bid website here.
Past City of Prince Rupert RFP's can be found here; while more notes related to City of Prince Rupert Financial themes can reviewed here.
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