RFP - Madison County - Annual Audit Services

Madison County, Iowa, has issued a formal Request for Proposal seeking qualified certified public accounting firms to perform annual audits for fiscal years ending June 30, 2025, 2026, and 2027, with options to extend for additional periods. The scope includes comprehensive audits in accordance with Iowa law, AICPA standards, GAO Government Auditing Standards, OMB Circular A-133, and GASB standards, with deliverables comprising multiple bound copies and an electronic report. The process emphasizes detailed proposals covering firm qualifications, experience, staffing, understanding of scope, and proposed schedules, with cost being a primary evaluation factor. Bidders must submit sealed proposals by November 20, 2025, at 4:00 p.m., including hourly rates, estimated hours, and not-to-exceed amounts for each fiscal year, along with optional forensic audit capabilities. The contract is anticipated to commence around late November 2025, with performance aligned to fiscal year timelines, and the work performed at Madison County’s facilities, with FOB destination terms. The contractual framework incorporates references to Iowa statutes, federal standards, and specific terms outlined in attachments, notably the general terms and conditions and insurance requirements. The agreement emphasizes compliance with non-discrimination policies, maintaining liability insurance, and retaining working papers for five years. It does not specify federal clause numbers or standard FAR clauses but incorporates applicable regulations by reference. The contract stipulates that all submitted documents become public records and that the selected firm will operate as an independent contractor responsible for taxes and insurance. Payment procedures require submission of original invoices, with Madison County exempt from sales taxes, and payments due within 30 days of acceptance. The County reserves the right to reject any proposals, inspect facilities prior to award, and extend the contract if mutually agreed. Overall, the process is designed to ensure transparency, compliance with professional standards, and selection based on a balanced evaluation of cost, experience, and understanding of scope.