Rhode Island Student Loan Authority

The buyer is seeking proposals from qualified auditing firms to conduct annual financial audits for a three-year period. The audits will cover basic financial statements, supplementary information, and federal awards if applicable. The buyer requires the auditor to comply with government auditing standards, meet specific qualifications, and deliver reports by mandated deadlines.

• 2/25/2025 - Questions Due
• 3/18/2025 - Proposal Due Date
• 9/10/2025 - Draft Audit Report Due
• 9/30/2025 - Final Audit Report Due

• Hold valid CPA practice permit in Rhode Island
• Senior accountant in charge must be a CPA
• Meet continuing education requirements of Government Auditing Standards
• Have internal quality control system and participate in external quality control review
• Maintain professional liability insurance of at least $1 million

• Conduct annual financial audits for a three-year period
• Audit basic financial statements and supplementary information
• Perform single audit if required
• Prepare management letter with recommendations
• Coordinate with Office of Auditor General and Department of Administration
• Submit draft and final audit reports by required deadlines
• Audit major federal programs if applicable
• Review internal control over financial reporting
• Assess compliance with laws and regulations
• Provide at least 20 final copies of all reports