City of Central Falls

Buyer seeks professional services to conduct annual audits for fiscal years 2025, 2026, and 2027. The engagement includes preparing financial statements, conducting Single Audits if necessary, and submitting required reports to state authorities. Audits must be completed by December 31 following each fiscal year ending June 30. Buyer requires audits performed in accordance with generally accepted auditing standards and Government Auditing Standards.

• 4/25/2025 - Bid Opening
• 4/25/2025 - Proposal Due Date

• Must be certified public accountants with valid Rhode Island permit
• Must meet independence requirements of AICPA and Government Auditing Standards
• Senior accountant in charge of fieldwork must be CPA
• Must have appropriate internal quality control system in place
• Must participate in external quality control review program
• Must have professional liability insurance coverage of at least $1 million

• Perform annual financial audit in accordance with GAAP and Government Auditing Standards
• Prepare draft financial statements based on city-provided trial balances
• Conduct Federal Single Audit if City expends federal awards
• Express opinion on fair presentation of basic financial statements
• Prepare management letter with recommendations for improvement
• Submit required reports to State Auditor General and Director of Revenue
• Review Municipal Transparency Portal (MTP) supplemental information
• Audit Tax Collector's Annual Report as supplementary information
• Complete audit and deliver reports by December 31 each year
• Conduct exit conference with Finance Director to review draft reports