Date
Address Block
Dear
OUR NONPROFIT invites COMPANY to submit a proposal for the preparation of
its yearly audited financial statements and related filings for a three-year period
beginning with the 20XX fiscal year ending XXX XX. Our organization [does /
does not] require a federal single audit. The audit of OUR NONPROFIT’s
financial statements must be performed in accordance with generally accepted
auditing standards.
OUR NONPROFIT is a 501(c)(?) organization. [Include any related organizations
and a description of the relationship.] The mission of OUR NONPROFIT is
XXXXXXXXXXX. Programs include:
OUR NONPROFIT serves XXX clients each year with funding from grants,
contracts, and fees. We receive government funding from XXX agency – if
applicable. We have XX employees located in XX office(s). Our annual revenue
has ranged between $_______ and $__________ over the past ___ years.
OUR NONPROFIT requires the following services:
1. Annual financial statement audit.
2. Federal Single Audit (if applicable).
3. Preparation of IRS form 990
4. Preparation of Charitable Organization Annual Report for the
Minnesota Attorney General
5. Management letter
All of the above must be completed within XX days of the end of each fiscal year,
in order for our Board to review each document prior to its submission to the
appropriate recipients. In addition, OUR NONPROFIT requires that a meeting of
the auditors and selected OUR NONPROFIT board and staff members be held to
discuss a draft version of the financial statements and that the auditors meet at
least yearly with the Board of Directors’ [finance/audit] committee.
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All proposals must include:
a) Evidence of the firm’s qualifications to provide the above services;
b) Background and experience in auditing nonprofit clients;
c) The size and organizational structure of the auditor’s firm;
d) Statement of the firm’s understanding of work to be performed,
including tax and non-audit services;
f) A proposed timeline for fieldwork and final reporting;
g) Proposed fee structure for each of the three years of the proposal
period, including whatever guarantees can be given regarding
increases in future years, and the maximum fee that would be
charged;
h) Describe your billing rates and procedures for technical questions
that may come up during the year, or whether these occasional
services are covered in the proposed fee structure;
i) Names of the partner, audit manager, and field staff who will be
assigned to our audit and provide biographies.
j) 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; and
k) References and contact information from at least XX comparable
nonprofit audit clients.
Your proposal must be received by XXXXX. Send your proposal to me at OUR
NONPROFIT, address. The [finance/audit] committee will review all proposals at
their XX meeting and make a recommendation regarding the choice of auditors
to the full board of directors in XX.
If you have any questions or would like further clarification of any aspect of this
request for bid, please contact me at XXX-XXX-XXXX. I look forward to
receiving your proposal.
Sincerely,
XXX
Encl: OUR NONPROFIT audit report and Form 990 for last fiscal year
Copyright © Propel Nonprofits propelnonprofits.org
