Professional Auditing Services

The City of Frisco, Texas, is seeking qualified public accounting firms to perform an audit of its financial statements for the fiscal year ending September 30, 2026, with the possibility of extending the audit services for four subsequent years. The procurement process is structured as a Request for Qualifications (RFQ), emphasizing the importance of demonstrating technical expertise, understanding of the scope, and the firm's ability to meet scheduling and compliance requirements. The contract size is estimated between 500,000 and 1,500,000 dollars, and submissions are due by December 2, 2025, with options for electronic or physical delivery. The evaluation process prioritizes technical approach, responsiveness, completeness, and municipal experience, with the award based on best value rather than solely lowest price, which will be negotiated post-qualification. The scope of work involves providing an independent audit of the City’s governmental and business-type activities, major funds, and component units, ensuring compliance with Generally Accepted Accounting Principles (GAAP). Deliverables include an audit opinion, in-relation-to opinion on supporting schedules, and assistance with the City’s Comprehensive Annual Financial Report (CAFR) publication. The contract incorporates standard provisions such as compliance with applicable laws, audit rights, and the City’s right to inspect and reject non-conforming items. Insurance requirements mandate comprehensive coverage, and the contractor must adhere to specific contractual clauses covering indemnification, conflict of interest restrictions, and termination rights. The procurement emphasizes participation of small and minority/woman-owned businesses and requires certifications related to socioeconomic status, anti-boycott, and non-discrimination policies. Payment terms are net 30, with invoices submitted electronically to the City’s finance department, and all deliverables are to be shipped to designated City facilities in Frisco, Texas, under F.O.B. terms. The contractual clauses and notices highlight the importance of compliance, quality standards, and the City’s authority to inspect and reject work that does not meet specified requirements.