Professional Audit Services

The Teacher Retirement System of Texas (TRS) is seeking qualified providers with substantial experience in auditing retirement and pension plans to deliver professional audit services under Solicitation Number TRS000679, posted on April 28, 2026, with a response deadline of May 29, 2026. The contract focuses on comprehensive audit services spanning Fiscal Years 2026 through 2032, including audits of TRS’s financial statements as of August 31 each year, GASB Statement No. 68 (Pension Liability) and No. 75 (OPEB Liability) schedules, Required Supplementary Information, internal controls and compliance reviews, and ACFR compliance assessments for the GFOA Certificate of Achievement. The Contractor must act as a component auditor in coordination with the State Auditor’s Office under AU-C 600A, adhere strictly to U.S. GAAS, government auditing standards, and applicable GASB pronouncements, and ensure all deliverables meet specified accuracy, completeness, and timeliness criteria with no unresolved material errors. The initial contract term is two years with three optional one-year renewals, during which pricing must remain fixed without escalation. Deliverables must be submitted in a format acceptable to TRS and are subject to written acceptance by TRS, with contractors having only three calendar days to correct deficiencies at no additional cost. Invoicing must occur through TRS’s PAVES system within 30 days after month-end service completion, with payment made within 30 days of receipt, and all invoices must include detailed deliverable descriptions, dates, vendor identification numbers, and contract references. Contractors are required to comply with stringent legal, ethical, and operational obligations including full adherence to HIPAA through a signed Business Associate Agreement and Data Destruction/Return Certification for handling TRS personal health information, maintaining a minimum of $10 million in aggregate liability insurance, and certifying absence from debarment or exclusion lists maintained by Texas and federal agencies. The Contractor must affirm no conflicts of interest, no improper dealings with public servants, no participation in boycotts of Israel or energy companies, and no affiliation with entities controlled by China, Iran, North Korea, or Russia under Texas Government Code provisions. All communications must be conducted via email or phone with designated TRS points of contact, and no telephone inquiries regarding the solicitation are permitted; all questions must be submitted electronically through PAVES. Evaluation of proposals will prioritize respondent qualifications and past performance