DOA Auditing Services - Tobacco Settlement Financing Corporation

The Rhode Island Department of Administration, on behalf of the Tobacco Settlement Financing Corporation, is soliciting qualified certified public accounting firms to perform an independent financial statement audit for the fiscal year ending June 30, 2025. The engagement requires adherence to generally accepted accounting principles for state and local governments as established by the Governmental Accounting Standards Board and generally accepted auditing standards issued by the American Institute of Certified Public Accountants, in addition to Government Auditing Standards—commonly known as the Yellow Book—from the Comptroller General of the United States. The audit must follow a risk-based approach in line with the Single Audit Act of 1984 and its amendments, including OMB Circular A-133 Subpart F. Proposals must include a technical component limited to eleven pages addressing qualifications and experience with governmental entities, audit approach and strategy, and references, along with a cost proposal specifying annual fees for the initial three-year term and optional one-year extensions. A Supplemental Bidder Attestation form must be submitted to certify absence of conflict of interest under Rhode Island law and non-involvement in shaping the RFP, while an ISBE Proposal is required to document participation of Minority, Women, and Disability Business Enterprises, with bonus points available for such participation. The auditor must maintain an internal quality control system, participate in an external quality control review, and submit the most recent review report to the Office of the Auditor General and the Director of Administration, along with any subsequent reports during the contract term. The firm’s lead auditor must be a licensed certified public accountant, and all personnel involved must meet continuing education requirements under Government Auditing Standards and remain independent as defined by AICPA and federal standards. Additional deliverables include presentation materials for the TSFC Board of Directors to accompany the annual audit presentation. Compliance with Rhode Island statutes is mandatory, including filing an affidavit with the State Board of Elections regarding political contributions per Chapter 27 of Title 17, and certifying that no Major State decision-maker or their immediate family holds a ten percent equity interest or five thousand dollar cash interest in the firm under RIGL § 42-6-1. The contract may cover up to five years, beginning with a three-year base period and two one-year extension options, subject to approval by the Department of Administration and the Auditor General. Any firm awarded a subsequent contract after five years may only receive a three-year term to ensure no entity remains engaged for more than eight consecutive years. Proposals must be submitted electronically via