Description
The State of Tennessee, Treasury Department is seeking qualified, independent unclaimed property audit firms for the provision of examining, identifying, recovering, and reporting past due unclaimed property to the State. The selected firms will be responsible for auditing entities believed to be holding unclaimed property, identifying past due unclaimed property, and performing all services as required by the contract. The selected firms will be required to provide all goods or services and deliverables as specified in the contract, meet all service and delivery timelines, and comply with all terms and conditions specified in the contract. The scope of services includes examining, identifying, recovering, processing, and reporting past due unclaimed property to the State.
Key points to be considered by potential bidders include:
• The contractor must have prior written approval from the State to conduct any estimate or sample used in any audit that affects the State.
Some key points to consider:
• Provide all goods or services and deliverables as required by the contract
• The contractor shall identify entities believed to be holding unclaimed property who have never reported such unclaimed property, or who have not adequately reported such unclaimed property to the State.
• The contractor must have at least five years of unclaimed property audit experience.
Some of the key deliverables include:
• Performing audits of the financial records of holders for unclaimed property,
• Preparing and providing the State with an audit report,
• Providing an audit procedures manual, and
• Submitting monthly work-in-progress reports to the State.