Audit Services

The Town of New Fairfield is soliciting proposals from qualified, independent public accounting firms to conduct annual financial audits for fiscal years ending 2027, 2028, and 2029, with options for two one-year renewals. The selected firm must express an opinion on the fair presentation of general-purpose financial statements in conformity with GAAP and provide reports on internal control structures and compliance with applicable laws, including the Single Audit Act and OMB Circular A-133. Audits must adhere to AICPA, U.S. Comptroller General's Government Auditing Standards, and Connecticut General Statutes. Key deliverables include the Annual Financial Report and Single Audit Report, both due by February 15th annually, as well as a Fixed Asset Worksheet and a communication letter to the Board of Finance. Proposals are due by October 14, 2026, and must be submitted in two separate envelopes and on one flash drive, separating the technical proposal from the sealed dollar cost bid. The technical proposal must demonstrate independence, Connecticut licensure, and a record of quality audit work, while the cost bid must provide a total all-inclusive maximum price and hourly rates for additional services. Evaluation will be conducted by a five-member selection committee based on firm qualifications, audit approach, and staff experience, specifically requiring supervisory members to be CPAs with at least five years of municipal audit experience in Connecticut. The contract requires comprehensive insurance coverage, including professional liability and general liability of $1,000,000, and mandates that the firm maintain independence and avoid conflicts of interest with the Town.