City of Lake City

The buyer is seeking proposals from qualified firms to conduct a forensic audit of its financial records for the past five years. The audit aims to ensure transparency, accountability, and accuracy in the buyer's financial operations. The buyer has experienced growth in grants, expenditures, and budget allocations while simultaneously having staff turnover. Recent concerns over potential discrepancies have prompted the need for a comprehensive forensic audit.

• 2/21/2025 - RFP Issued
• 3/31/2025 - Proposal Due Date

• Review financial statements, budgets, and accounting records from the past five years
• Conduct interviews with key personnel involved in financial operations
• Analyze transactions for unusual patterns or anomalies
• Assess the effectiveness of existing internal controls
• Prepare a detailed report outlining findings and recommendations for corrective actions
• Identify financial irregularities or discrepancies
• Evaluate compliance with applicable financial regulations and policies
• Assess adequacy of internal controls and financial management practices
• Provide recommendations for improving financial processes and controls
• Assist in rendering legal advice through findings