25520007-I2 - Financial Auditing Services

This solicitation by the California Department of Veterans Affairs (CalVet) seeks Financial Auditing Services for the CalVet Home Loans Division for a three-year term spanning fiscal years 2025/26 through 2027/28. The contractor will be responsible for comprehensive annual financial audits, interim reviews, special audits, and support in preparing unaudited financial statements, all aligned with federal, state, and regulatory standards including AICPA, GASB, FASB, and relevant California Codes. The scope includes delivering audited financial statements, management letters, comfort letters, and agreed-upon procedures reports. The contract emphasizes strict adherence to compliance with applicable laws, regulations such as HIPAA, and maintaining required insurance coverage including professional liability and fidelity bonding. The solicitation underwent several revisions, updating bid dates, adding corrected exhibits, and extending submission deadlines. The procurement follows a Lowest Price Technically Acceptable approach, awarding the contract to the lowest responsible bidder who meets all requirements, with preferences afforded to certified small and disabled veteran-owned businesses. The final contract requires monthly invoicing in arrears, submitted by mail or email to CalVet’s accounting office in Sacramento, with invoices clearly showing service dates and agreement details. While pricing details for this solicitation are not disclosed, historical rates from previous contracts were provided for reference only. Contract administration and communication are managed primarily by Stacie Kincaid, listed as the point of contact. The contract demands rigorous audit work paper confidentiality, limits on subcontractor use with mandatory reporting, and disclosure if generative AI tools are involved. Inspection and acceptance of services will be carried out by CalVet with rights to review records and evaluate compliance and service quality. Overall, this contract establishes a detailed, standards-based auditing engagement designed to ensure financial accountability and compliance within the California Department of Veterans Affairs.