Board of Education of Shelby County, Tennessee

Buyer seeks a qualified, independent accounting firm to conduct a forensic audit of Memphis-Shelby County Schools. The engagement includes investigating financial records, transactions, and processes to identify instances of fraud, waste, and abuse. Buyer requires evaluation of operational effectiveness, financial reporting accuracy, and compliance with laws and regulations. The firm will assess internal controls and provide comprehensive reports with findings and recommendations.

• 4/9/2025 - Written Questions Deadline
• 4/16/2025 - State Response to Questions
• 4/24/2025 - Proposal Due Date
• 5/6/2025 - Notice of Intent to Engage
• 5/9/2025 - Contract Term & Conditions Agreement Deadline
• 5/22/2025 - Engagement Discussions Deadline
• 6/2/2025 - Contract Start Date

• Must have firm permit number from Tennessee State Board of Accountancy
• Must be independent of Board of Education of Shelby County
• Must not currently provide audit services to Shelby County
• Must not have provided audit services to Shelby County in last five years
• Must have experience as forensic auditor for local government/school board within last three years

• Conduct forensic audit identifying fraud, waste, abuse instances
• Evaluate internal control deficiencies facilitating fraud occurrences
• Assess accuracy and reliability of financial reporting
• Evaluate compliance with applicable laws and regulations
• Review design and implementation of internal controls
• Report immediately any evidence of fraud discovered
• Deliver draft and final reports with findings and recommendations
• Present findings to legislative committees and school board
• Analyze financial transactions across 200+ schools serving 106,000 students
• Evaluate procedures for $1.8B annual revenue and $1.7B expenditures