Annual Audit of Wisconsin Deferred Compensation Financial Statements

Wisconsin Department of Employee Trust Funds

Buyer seeks a contractor to perform an annual audit of the Wisconsin Deferred Compensation (WDC) financial statements and notes. The WDC is administered by the Wisconsin Department of Employee Trust Funds which also manages the Wisconsin Retirement System, the 6th largest pension system in the nation. The contract will span three years initially, with options to extend for two additional two-year periods. The contractor will provide comprehensive audit services in accordance with applicable standards and present findings to the State of Wisconsin Deferred Compensation Board.

• 7/9/2025 - Question submission deadline
• 8/1/2025 - Proposal Due Date
• 1/1/2026 - Contract start date
• 12/31/2028 - Initial contract end date
• 12/31/2032 - Potential extended contract end date

• Experience auditing government retirement or deferred compensation plans
• Licensed CPA firm
• Knowledge of governmental accounting standards
• Familiarity with Wisconsin state statutes regarding benefit programs

• Perform annual audit of WDC financial statements and notes
• Follow GAAS and applicable governmental auditing standards
• Evaluate internal controls related to financial reporting
• Assess compliance with laws and regulations
• Present audit findings to the Deferred Compensation Board
• Provide recommendations for improving financial processes
• Review WDC investment portfolio performance
• Analyze participant account statements for accuracy
• Verify contribution calculations and allocations
• Examine compliance with IRS regulations for deferred compensation plans