California State Auditor

The buyer seeks a qualified proposer to conduct an independent performance audit of the State's Annual Comprehensive Financial Report (ACFR) process for fiscal year 2022-23. The audit will evaluate the effectiveness and efficiency of key agencies involved in ACFR preparation. The primary goal is to provide transparency regarding late financial reporting and recommend improvements for timely ACFR issuance. The audit must follow Government Auditing Standards and include a review of the State Controller's Office, Department of Finance, State Auditor's Office, and selected state entities.

• 1/22/2025 - Questions Due
• 1/22/2025 - Optional Notice of Interest Due
• 2/12/2025 - Questions and Answers Posted
• 3/4/2025 - Proposal Due Date
• 3/21/2025 - Contract Award
• 4/1/2025 - Contract Work Begins

• Experience analyzing complex accounting systems, including IT systems
• Compliance with auditing standards for Continuing Professional Education
• External quality control review every three years
• Key management and supervisory staff must have current CPA license
• Demonstrated knowledge of federal Single Audit Act of 1984

• Evaluate SCO's process for compiling the ACFR
• Assess DOF's responsibilities and efforts to assist with ACFR preparation
• Evaluate State Auditor's role in California's ACFR process
• Analyze selected state entities' financial reporting challenges
• Develop findings and recommendations to improve ACFR preparation process
• Prepare draft and final performance audit reports
• Conduct entrance and exit conferences
• Prepare workpapers in accordance with GAGAS standards
• Obtain comments from audited entities for inclusion in final report
• Meet all mutually agreed upon deadlines