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Request For Proposal – Audit of City Financials


The City of Ashland, Kentucky is requesting proposals (RFP) from qualified accounting firms to audit the City of Ashland’s financial statements for the fiscal years ending June 30, 2018, 2019 and 2020.



The proposal must include the following:
  • Fee for conducting the examination. The fee to be paid is to contain all direct and indirect costs including all out-of-pocket expenses. Rates also should be included by hour for any additional professional services or additional work which would only be performed with an addendum and within a year of the contract date.
  • A detailed audit work plan, including an explanation of the audit methodology to be followed. And a list of all schedules to be prepared by the City of Ashland.
  • The principal supervisory and management staff, including engagement partners, managers, other supervisors and specialists, who would be assigned to the engagement and an indication of whether such person is licensed to practice as a Certified Public Accountant in Kentucky and a bio on each including title, length of time with firm, previous employment and total years of experience, professional registrations, awards and a brief summary of related experience.
  • A report on the results of the firm’s two most recent peer reviews. Also, the auditors must state in the proposal whether their peer review includes a review of the quality of a specific governmental audit.  In addition, the firms shall provide information on the circumstances and status of any disciplinary action taken or pending against the firm during the past two (2) years with state regulatory bodies or professional organizations.
  • Auditor shall complete interim field work by June 22, 2018. Inventories will be observed on June 30th.
  • A provision must be included that a draft of the audit report must be submitted no later than 5:00 P.M. on the First Friday, of October following the end of the fiscal year being audited, or the reason that date cannot be meet and an alternative date that you will submit the draft.
  • A list of 5 recently completed governmental audits with name and contact information. Audits of similar size preferable.
Following the completion of the audit of the fiscal year’s financial statements, the auditor shall issue:
  1. A report of the fair presentation of the financial statements in conformity with generally accepted accounting principles (GAAP).
  2. A report on the internal control structure based on the auditor’s understanding of the control structure and assessment of control risk.
  3. A report of compliance with applicable laws and regulations.
  4. An opinion on the schedule of expenditures of federal awards.
  5. A report on compliance and on internal control over financial reporting based on an audit of the financial statements performed in accordance with Governmental Auditing Standards.
  6. A report on compliance with requirements applicable to each major program and on internal control over compliance in accordance with Circular A-133.
  7. A schedule of finding and questioned costs.
  8.  Professional assistance with the implementation of any other relevant GASB pronouncements.
  9. Any other required or supplementary schedule that is currently in report.
Special Consideration will be given to:
  • Knowledge of the Government Finance Officers Association Comprehensive Annual financial report (CAFR) program.
  • Knowledge of Section 8 Voucher Program Compliance and reporting which includes filing annual Auditor report.
The City of Ashland’s latest Comprehensive Annual Financial Report (CAFR) can be obtained by visiting our web site at www.AshlandKY.gov. A copy of your proposal must be received by the Director of Finance at the City Building, 1700 Greenup Avenue, Suite 102, Ashland, Kentucky 41101 by January 18th at 3:00 pm.  Ten bound paper copies and one electronic copy shall be received by due date.

This is a summary of items needed for proposal and is not all inclusive. The City of Ashland reserves the right without prejudice to reject any or all proposals. For more detailed information or additional questions, please contact Gretchen Arrington VanHoose at 606-327-2093 or gavanhoose@ashlandky.org.