County of San Mateo, Defined Contribution Plan Audit Services

The County of San Mateo is seeking a firm to provide audit services for its defined contribution plan. The plan has approximately $1 billion in assets and 16,373 participants. The selected firm will be required to perform an initial audit and subsequent annual audits for a period of five years. The scope of work includes financial reporting and statement audit, participant data and eligibility testing, contribution and payroll review, internal controls review, distribution and loan testing, participant investment review, administrative expense check, and compliance with plan document and regulations. • The County is looking for a firm with experience in auditing defined contribution plans, particularly those with similar asset types, participant counts, and automated recordkeeping systems. • The selected firm will be required to have a certified public accountant (CPA) licensed or certified by a state regulatory authority and meet the independence standards of the AICPA and the DOL. • The firm will also be required to have robust policies in place to protect sensitive participant data. • The County reserves the right to accept other than the lowest priced offer and to reject any proposals that are not responsive to this request.