External Auditing Services

The City of Richmond, Virginia is seeking proposals for external auditing services, including an annual audit of the City's financial statements and compliance with laws and regulations. The contract will be for a period of three years, with the option to renew for up to two additional one-year terms. The selected contractor will be required to provide auditing services, including financial statement audits, compliance audits, and single audits, as well as provide specialized assistance to meet the requirements for the "Certificate of Achievement for Excellence in Financial Reporting". The contractor will also be required to provide routine review and assistance of financial statements and footnotes, attendance at audit-related City Council and Audit Committee meetings, and meetings with City officials and internal auditors as requested. • The City's financial statements are prepared in conformity with generally accepted accounting principles as applicable to governmental units in the United States. • The City has two types of component units: blended and discrete. • The contractor shall provide the City with specialized assistance to meet the requirements for the "Certificate of Achievement for Excellence in Financial Reporting" issued by the Government Finance Officers’ Association of the United States and Canada. • The contractor shall attend the quarterly Audit Committee meetings either remotely or in person. • The contractor shall confer with the City's management for the purpose of reviewing the contractor's audit findings and recommendations prior to issuance of the reports and management letter.