External Audit Services

The Toronto and Region Conservation Authority is soliciting proposals from licensed public accounting firms to provide independent external audit services for three entities: the Toronto and Region Conservation Authority, the Toronto and Region Conservation Foundation, and The Village at Black Creek. The engagement covers two annual audit cycles, beginning with the fiscal year ending December 31, 2026, and concluding with the fiscal year ending December 31, 2028. The successful proponent will be responsible for developing annual audit plans, performing risk assessments, and issuing reports in accordance with Canadian generally accepted auditing standards, the Public Accounting Act 2004, and the Conservation Authorities Act. Financial statements must adhere to Canadian public sector accounting standards for the Authority and Canadian accounting standards for not-for-profit organizations for the Foundation. The selection process follows a three-stage evaluation: a technical assessment scored out of 80 points, a financial evaluation scored out of 20 points, and a final pass/fail presentation for the top three candidates who achieve a minimum qualifying score of 75 percent. Mandatory requirements include a CPA designation for the Engagement Partner, a valid public accounting license in Ontario, and compliance with Section 296 of the Municipal Act, 2001. Proponents must submit their proposals electronically via the Bids and Tenders system by October 16, 2026. The resulting contract will require the consultant to maintain standard automobile liability insurance of at least 2 million dollars and adhere to strict confidentiality and independence standards.