RFP– External Audit Services
November 4, 2022
Our non-profit society, Big Brothers Big Sisters of Greater Halifax and the Big Brothers Big Sisters HRM Foundation are inviting proponents to submit a proposal for the auditing of our annual financial statements and preparation of related filings for a (3) three-year period beginning with the 2022 fiscal year ending December 31, 2022.
The successful proponent may be subject to a (2) two-year extension, should Big Brothers Big Sisters of Greater Halifax wish to extend the terms of the agreement at the end of the period. The audit of our financial statements must be performed in accordance with generally accepted accounting principles including any reference thereto specific to the Canadian non-profit/charitable sector.
Big Brothers Big Sisters of Greater Halifax and the Big Brothers Big Sisters HRM Foundation are non-profit societies registered under the Societies Act of Nova Scotia. Oversight of both entities is provided by a volunteer Board of Directors, where the majority of Board Members of the Foundation committee are also members of the Big Brothers Big Sisters of Greater Halifax Board. The Big Brothers Big Sisters HRM Foundation exists solely to run a social enterprise (clothing donation collection service) which provides funding to Big Brothers Big Sisters of Greater Halifax by selling the clothing and household items to Value Village/Savers.
Big Brothers Big Sisters of Greater Halifax serves youth and their families in HRM through delivery of mentoring programs designed to provide developmental achievements for youth that help to mitigate the impacts on childhood adversity over time. As part of a national network of Big Brothers Big Sisters organization, the agency follows a set of national standards which serve to protect and support the young people and the volunteers who participate. Programs are delivered by professional staff with a background in child and youth services, enabling them to provide ongoing and appropriate support for families.
In 2022, the agency divested property in both Enfield and Dartmouth, and currently lease premises at 1658 Bedford Highway, Bedford and 6300 Lady Hammond Road, Halifax.
Big Brothers Big Sisters of Greater Halifax’s operational funding comes from these sources: proceeds from a social enterprise, grants from foundations and other granting organization, corporate and individual donations, provincial government funding, and annual fundraising events.
Over the past 3 years, Big Brothers Big Sisters of Greater Halifax and the Big Brothers Big Sisters HRM Foundation combined revenue has been $ 1,653,047 (2019), $1,338,377 (2020) and $1,516,953 (2021). The organization manages an average of 190 financial transactions per month. All cheques, electronic ACH and bill payments require the signatures (approval) of two signing officers, and where the amount of the cheque or payment is $5,000 or greater, one signatory must be an officer of the Board.
Big Brothers Big Sisters of Greater Halifax has 12 employees and the HRM Foundation employs 10 staff. Since July of 2022, the organization owns no real estate but has placed real estate sale proceeds into long-term investments. Their capital assets are limited to computer hardware, software, furniture and clothing donation bins, located at the office sites or in agreed upon sites in the community. There is an operating lease for 2 photocopiers/printers and 2 trucks used by the social enterprise to collect clothing donations.
The association manages its financial accounts using commercially using available 3rd party software, payroll services are outsourced to ADP and has one employee dedicated to administration and finance management.
Big Brothers Big Sisters of Greater Halifax and the Big Brothers Big Sisters HRM Foundation require the following services:
- Annual financial statement audit of both entities.
- A Management Letter detailing findings and recommendations as an outcome of the procedures performed, to be provided on an annual basis.
To maintain compliance with agency By-laws and Canada Revenue Agency reporting deadlines, the above work must be completed within 5 months of the end of each fiscal year. In addition, Big Brothers Big Sisters of Greater Halifax and the Big Brothers Big Sisters HRM Foundation require that auditors meet with the association’s Executive Committee and Management to discuss the audit report prior to approval of the statements by the Board of Directors.
- Confirmation that the proponent is independent of Big Brothers Big Sisters of Greater Halifax and the Big Brothers Big Sisters HRM Foundation;
- Evidence of the proponent’s qualifications to provide the above services;
- The company size and organizational structure of the auditor’s proponent – demonstrated ability to perform the audit;
- Statement of the proponent’s understanding of work to be performed, including tax and non-audit services;
- Names of the anticipated partner, audit manager, and field team who will be assigned to our audit and provide associated biographies/ resumes.
- A proposed timeline for fieldwork and final reporting;
- References and contact information from at least 3 comparable non-profit audit clients. Please identify which of the proposed team members have worked on these non-profit audit clients.
- Background and experience in auditing non-profit clients;
Pricing and Discounts
- Proposed fee structure and rate card for each of the three years of the proposal period, exclusive of HST. Fees proposed should include all travel expenses and out of pocket expenses that may be incurred. As noted above, at the end of the three-year period we may offer the successful proponent an opportunity to extend their agreement and services for an additional two years. With this in mind, we request a fee quote be provided for a three-year term and a second fee quote for a five-year term., including whatever guarantees can be given regarding increases in future years, and the maximum anticipated fee that would be charged;
- A listing of pricing assumptions;
- Please describe your procedures and rate card for any out-of-scope hours that may be incurred beyond the services agreed upon. Please describe what the process will be to notify Big Brothers Big Sisters of Greater Halifax and the Big Brothers Big Sisters HRM Foundation of any such instances. Describe your billing rates and procedures for technical questions that may come up during the year, or whether these occasional services are covered in the proposed fee structure. If so, please provide the number of hours or to what extent ad-hoc consultation is permitted.;
- Please provide a rate card and an associated description of any additional non-audit services that Big Brothers Big Sisters of Greater Halifax and the Big Brothers Big Sisters HRM Foundation may engage in with the successful proponent. That is, any subject matter expertise that may exist within your organization and the hourly rate for such services.
- Please provide a summary of any value-add services/offerings that may be provided during the tenure of the contract, at no cost.
QUESTIONS AND AMENDMENTS:
To obtain all relevant amendments and question responses, please express interest in submitting a bid before November 14th at 5:00 PM AST by emailing Shelda.Cochrane@bigbrothersbigsisters.ca.
Please submit any questions via email before November 21st at 5:00PM AST by emailing Shelda.Cochrane@bigbrothersbigsisters.ca. Questions will be responded to periodically during the question period and communicated to those who expressed interest, with the final responses being communicated two business days after the questions deadline.
When expressing interest, asking questions, or submitting your response via email, please include “RFP– External Audit Services” in the subject line.
* Your proposal must be received by 5:00 PM AST on December 5, 2022, at the mailing address below or by email to Shelda.Cochrane@bigbrothersbigsisters.ca. The Executive Committee will review all proposals and make a recommendation regarding the choice of auditors to the full Board of Directors at a special meeting in December 2022 and the chosen vendor will be notified shortly thereafter.
[*ADDENDUM – Deadline to submit has been moved to 5:00 PM AST on December 21, 2022. The Executive Committee will review all proposals and make a recommendation regarding the choice of auditors to the full Board of Directors at a special meeting in January 2023 and the chosen vendor will be notified shortly thereafter.]
We look forward to receiving your proposal.
Executive Director | Community Engagement
Click here to view Annual Reports and Audited Financial Statements for the previous 3 years.