request for proposal - bcgames.org · purpose of the request for proposal ... • audit planning...
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REQUEST FOR PROPOSAL for
FINANCIAL AUDIT SERVICES for
BC GAMES SOCIETY
ISSUE DATE: JULY 20, 2015
CLOSING LOCATION: 200 – 990 Fort Street
Victoria BC V8V 3K2
Attention: Kelly Mann, President and CEO
CLOSING DATE AND TIME: Proposals must be received
by Noon Pacific Time on September 24, 2015
CONTACT PERSON: Glenda Rae, Executive Assistant Phone Number: 250-387-4685
Fax Number: 250-387-4489 E-mail: [email protected]
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Summary of Requirements 1. Purpose of the Request for Proposal ...................................................................... 1 2. Term of Contract ..................................................................................................... 1 3. Type and Scope of Audit ......................................................................................... 1
3.1 Financial Audit .............................................................................................. 1 3.2 Auditor’s Report and Timing ......................................................................... 1 3.3 Management Letter ...................................................................................... 2 3.4 Key Audit Dates ............................................................................................ 3 3.5 Relationship of the Auditor to the BC Games Society .................................. 3
4. Relationship with the Auditor General ..................................................................... 3 4.1 Role of the Auditor General .......................................................................... 3 4.2 Participation of the Auditor General ............................................................. 3 4.3 Additional Work for the Auditor General ....................................................... 4
5. Information about the BC Games Society ............................................................... 4 5.1 Description ................................................................................................... 4 5.2 Society Structure .......................................................................................... 4 5.3 Financial Magnitude ..................................................................................... 5 5.4 Key Financial Systems ................................................................................. 5 5.5 Financial Management ................................................................................. 5 5.6 Work Done by the BC Games Society Staff ................................................. 5 5.7 Audit/Finance Committees ........................................................................... 5 5.8 Internal Audit ............................................................................................... 6
Administration 6. Request for Proposal Process ................................................................................. 6
6.1 Enquiries ...................................................................................................... 6 6.2 Closing Date ................................................................................................. 6 6.3 Late Proposals.............................................................................................. 6
7. Proposal Preparation .............................................................................................. 7 8. Additional Terms ..................................................................................................... 7
8.1 Irrevocability of Proposal .............................................................................. 7 8.2 Changes to Proposal Wording ...................................................................... 8 8.3 Proponents’ Expenses .................................................................................. 8 8.4 Acceptance of Proposal ................................................................................ 8 8.5 Liability for Errors .......................................................................................... 8 8.6 Modification of Terms ................................................................................... 9 8.7 Ownership of Proposals ............................................................................... 9 8.8 Confidentiality of Information ........................................................................ 9
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9. Evaluation of Proposals........................................................................................... 9 9.1 Evaluation and Selection .............................................................................. 9 9.2 Unsuccessful Proposals ............................................................................... 9 9.3 Estimated Time-Frames ............................................................................. 10
10. Basis for Selection ................................................................................................ 10 10.1 Mandatory Requirements ........................................................................... 10 10.2 Criteria for Assessment .............................................................................. 10
Schedules 1 Team Mix and Hours Appendices A. Organization Chart for the BC Games Society B. BC Games Society’s Board Members and Senior Management C. Transmittal Form D. Service Agreement (with Attachments)
• Audit Planning Memorandum Table of Contents • Report to the Audit Committee
E. BC Games Society Audited Financial Statements F. Mission 2014 BC Winter Games Society Audited Financial Statements G. Nanaimo 2014 BC Summer Games Society Audited Financial Statements
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SUMMARY OF REQUIREMENTS 1. Purpose of the Request for Proposal
The BC Games Society and the host communities of the BC Summer Games and the BC Winter Games require financial statement audits (3 entities). The Board of Directors of the BC Games Society wishes to engage an Auditor to perform those audits.
2. Term of Contract
The Contract will be for a period of five years, commencing with the 2015/2016 fiscal year. The fiscal year of the BC Games Society is April 1 to March 31. The fiscal years of each of the other entities differ depending on the actual dates of the events.
3. Type and Scope of Audit
3.1 Financial Audit
The engagement shall be conducted in accordance with Canadian generally accepted auditing standards. As such, the audit report should express an opinion as to whether the financial statements of the BC Games Society are in accordance with the required basis of reporting for BC public sector organizations. The reports on the BC Summer and Winter Games should be fairness opinions on the financial reporting in accordance with accounting principles for not for profit organizations.
3.2 Auditor’s Report and Timing
The Auditor will:
(a) prepare an audit report addressed to the Board of Directors of each entity including the BC Games Society having format and content consistent with Canadian generally accepted auditing standards;
(b) provide signed copies of the report on the BC Games Society to the Comptroller General and the Auditor General of British Columbia in sufficient time to enable them to meet the prescribed reporting requirements of the Government of British Columbia.
The BC Games Society Management should receive the draft audit report no later than April 30 of each year and the Comptroller General and the Auditor General should receive the final audit report no later than approximately May 15 of each year (based on current information from the Office of the Comptroller General, although these dates are subject to change).
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Audits to be conducted as follows:
• BC Games Society Audits to be conducted annually for fiscal years March 31, 2016 through. March 31, 2020.
• Host Community Audits:
Games Host Society Date of Event
BC Winter Games Penticton February 25-28, 2016
BC Summer Games Abbotsford July 21-24, 2016
BC Winter Games Kamloops February 22 - 25, 2018
BC Summer Games Cowichan Valley July 19-22, 2018
BC Winter Games TBA February 20-23, 2020
BC Summer Games TBA July 23-26, 2020
Travel to the Host Community is not required.
3.3 Management Letter
The Auditor will prepare a management letter relating to each audit addressed to the Board of Directors, (with a copy of the BC Games Society to the Auditor General), that identifies areas of concern or weaknesses encountered in the examination of the financial statements of each entity, recommendations for improvement, and management’s response to the concerns raised or that advises the Board that no significant concerns or weaknesses were discovered.
3.4 Key Audit Dates
The key audit dates for the BC Games Society are as follows (based on current information, although these dates are subject to revision):
Finalize draft audit report ~ April 30* Meet with Management ~ April 30* Meet with Audit Committee ~ May 3* Provide copies of audit report to Comptroller General
and Auditor General ~ May 15*
*exact dates to be determined
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3.5 Relationship of the Auditor to the BC Games Society
The Auditor will have full access to the Board of Directors and the Audit Committee of the BC Games Society, and to staff and facilities in order to perform its audit work. Staff of the Auditor must ensure that confidentiality of information obtained as a result of their involvement with the audit is maintained.
4. Relationship with the Auditor General
4.1 Role of the Auditor General
The role of the Auditor General is, in part, to encourage consistency in accounting and financial reporting by government organizations. To assist the Auditor General to achieve this goal, the Auditor will consult with the Auditor General’s staff on matters relating to changes in accounting policies and other matters affecting the BC Games Society’s financial reporting and internal control that may be discussed with senior management and/or the Board of Directors.
4.2 Participation of the Auditor General
Staff of the Auditor General may represent the Auditor General in formal meetings with the BC Games Society’s Board of Directors. Staff of the Auditor General may be involved in discussions with the Auditor about the audit plan.
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Staff of the Auditor General may participate in the review of the format and content of the BC Games Society’s draft financial statements and may be involved in discussions with the Auditor about the audit report before it has been signed by the Auditor.
4.3 Additional Work for the Auditor General
The Auditor General provides assessments and advice to the Legislative Assembly related to the Legislative Assembly’s role in holding the government accountable for its administration. The Auditor may be asked to perform additional work to assist the Auditor General to provide such assessment or advice. The Auditor General expects to pay for any additional work performed at his request, unless the additional work requested is, in the opinion of the Auditor General, required to meet Canadian generally accepted auditing standards for financial audits as they relate to an expression of an opinion on the BC Games Society’s financial statements.
5. Information about the BC Games Society
5.1 Description
1. BC Games Society is formed under the Societies Act and is subject to the Financial Information and the Auditor General Act.
2. Mission statement – The BC Games Society is the leadership organization that guides the BC Winter and BC Summer Games and prepares Team BC for national multi-sport Games. We build on the expertise and support of partners to create development opportunities for athletes, coaches, officials, volunteers, and communities.
3. Service plan – see attached 4. Annual report – see attached
i. Audit requirements are subject to strict deadlines imposed by the Office of the Comptroller General of BC
5. Latest Financial Statement – see attached
5.2 Society Structure
An organization chart of the BC Games Society is attached as Appendix A. Appendix B lists the current members of the Board of Directors and senior management of the BC Games Society.
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5.3 Financial Magnitude
Appendix E is a copy of the 2014/15 audited financial statements for the BC Games Society. In addition to the financial information contained in the statements, please note the following:
(a) Payroll - full time employees 10
- part time employees 0
(b) Non payroll cheques issued 600
(c) Invoices paid 600
(d) Types of Inventories: Games supplies
5.4 Key Financial Systems
The BC Games Society currently uses computerized systems to assist with preparation of the internal monthly financial statements.
5.5 Financial Management
The overall responsibility for financial management of the BC Games Society rests with the President and CEO, Kelly Mann.
5.6 Work Done by the BC Games Society Staff
The BC Games Society staff prepares the financial statements, as well as the normal reconciliations and analyses as necessary for the completion of the Society’s financial statements. Each BC Games host community is served by a qualified volunteer (CA, CGA) who accounts for all revenues and expenses during the Games process. Those books, and related financial statements, are provided to the BC Games Society within well communicated timelines.
5.7 Audit/Finance Committee
The BC Games Society’s Board of Directors has an Audit Committee and a Finance Committee. The Audit Committee is charged with the responsibility of reviewing the annual financial statements of the BC Games Society prior to submission to the Finance Committee. The Finance Committee reviews the statements and then forwards their recommendation to the Board of Directors. The Audit Committee meets once annually and the Finance
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Committee meets three times per year. The senior staff of the Auditor is expected to attend the meeting of the Audit Committee.
5.8 Internal Audit
The BC Games Society has a part-time accountant, Ms. Tina Yue, and is too small to have an internal auditor.
ADMINISTRATION The following provisions reflect current best practices for public sector procurement, and will apply to this Request for Proposal and to any subsequent contract. Submission of a proposal in response to this Request for Proposal indicates acceptance of all the following provisions.
6. Request for Proposal Process
6.1 Enquiries
All enquiries related to this Request for Proposal are to be directed, in writing, to the contact person identified on the front page of this Request for Proposal. Information obtained from any other source is not official and should not be relied on. If information additional to that disclosed in the Request for Proposal is supplied, this information will be provided to all parties who have returned the receipt confirmation form provided at Appendix E. Enquiries must be communicated to the contact person at least five days prior to the Request for Proposal closing.
6.2 Closing Date
Four complete copies of each proposal must be received by noon, Pacific Time, on September 24, 2015 at:
BC Games Society 200 – 990 Fort Street Victoria BC V8V 3K2
Proposals must not be sent by facsimile or e-mail. Proposals and their envelopes should be clearly marked with the name and address of the proponent, and the words “Proposal for Financial Audit Services for the BC Games Society”.
6.3 Late Proposals
Late proposals will not be accepted and will be returned unopened to the sender.
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7. Proposal Preparation
The following format and sequence should be followed in order to provide consistency in proponents’ responses and to ensure each proposal receives fair consideration. All pages should be consecutively numbered. Transmittal form (Appendix D). The Transmittal Form must be signed by
a person authorized to sign on behalf of the proponent and to bind the proponent to statements made in response to this Request for Proposal.
Table of contents for proposal, including page numbers. The body of the proposal, including pricing. The proposal should address
all factors identified as the selection criteria in the same order as they are described in the criteria. Failure to address all criteria will impair the proposal. The proposal evaluation team is not obligated to seek clarification of vague or incomplete information.
Prices should be all-inclusive, including all taxes and be firm for the entire period covered by the contract.
The proponent should include statements: − Confirming that the proponent is independent from the BC Games
Society, and any non-audit services performed by the proponent for the BC Games Society will neither prejudice that independence nor be in conflict with any governing code of professional ethics; and
− Confirming that the proponent has no conflict of interest related to the BC Games Society.
8. Additional Terms
8.1 Irrevocability of Proposal
By submission of a clear and detailed written notice, a proponent may amend, or withdraw, its proposal prior to the closing date and time. At closing time, all proposals become irrevocable. Proposals must be open for acceptance for at least 90 days after the closing date. By submission of a proposal, a proponent agrees that should its proposal be successful the proponent will enter into an agreement, with the content and format set out in Appendix E, with the BC Games Society.
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8.2 Changes to Proposal Wording
A proponent will not be permitted to change the wording of its proposal after closing, and no words or comments may be added to the proposal unless requested by the Board of Directors for purposes of clarification.
8.3 Proponents’ Expenses
Proponents are solely responsible for their own expenses in preparing a proposal. If the Board of Directors elects to reject all proposals, neither the Board nor the BC Games Society will be liable to any proponent for any claims, whether for costs or damages incurred by the proponent in preparing the proposal, loss of anticipated profit in connection with any final agreement, or any other matter whatsoever. Further to the preceding paragraph, a proponent, by submitting a proposal, agrees that it will not claim damages, for whatever reason, relating to the agreement or in respect of the competitive process, in excess of an amount equivalent to the reasonable costs incurred by the proponent in preparing its proposal and the proponent, by submitting a proposal, waives any claim for loss of profits if no agreement is made with the proponent.
8.4 Acceptance of Proposal
This Request for Proposal should not be construed as an agreement to purchase services. Neither the Board nor the BC Games Society is bound to enter into an agreement with any proponent that submits the lowest priced proposal or with any proponent. No proponent will acquire any legal or equitable rights or privileges relative to the services prior to full execution of a written agreement for the services required.
8.5 Liability for Errors
While the Board of Directors and the BC Games Society have used considerable effort to ensure an accurate presentation of information in this Request for Proposal, the information contained in this Request for Proposal is supplied solely as a guideline for proponents. The information is not guaranteed, or warranted to be accurate, by the BC Games Society, nor is it necessarily comprehensive or exhaustive. Nothing in this Request for Proposal is intended to relieve proponents from forming their own opinions and conclusions with respect to the matters addressed in this Request for Proposal.
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8.6 Modification of Terms
The BC Games Society reserves the right to modify the terms of this Request for Proposal at any time in it sole discretion. This includes the right to cancel this Request for Proposal at any time prior to entering into an agreement with a successful proponent.
8.7 Ownership of Proposals
All documents, including proposals, submitted to the BC Games Society become the property of the BC Games Society. They will be received and held in confidence, subject to the provisions of the Freedom of Information and Protection of Privacy Act.
8.8 Confidentiality of Information
This document, or any portion thereof, may not be used for any purpose other than the submission of proposals. Information pertaining to the BC Games Society obtained by a proponent as a result of participation in this process is confidential and must not be disclosed except as required to fulfill the obligations of the Auditor under the Agreement.
9. Evaluation of Proposals
9.1 Evaluation and Selection
The Board will first check proposals against the mandatory requirements. Proposals not meeting all mandatory requirements will be rejected without further consideration. Proposals that meet all the mandatory requirements will be assessed and scored against the criteria for assessment. Only the information contained in the proposal will be used to evaluate the proposal.
The selection committee may request that a short list of proponents attend an interview as part of the selection process.
9.2 Unsuccessful Proposals
At the conclusion of the Request for Proposal process, all proponents will be notified. Unsuccessful proponents may request a meeting with the BC Games Society staff.
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9.3 Estimated Time-Frames
The following timetable outlines the anticipated schedule for the Request for Proposal process and signing an agreement. The timing and the sequence of events resulting from this Request for Proposal may vary and shall ultimately be determined by the Board.
Event Anticipated Date
Request for Proposal is issued July 20, 2015 Request for Proposal closes September 24, 2015 Audit Committee evaluates proposals late September 2015 Finance Committee reviews Audit Committee’s findings
October 2015
BC Games Society’s Board of Directors approves recommended Audit Firm
October 29, 2015
Approval by Auditor General and Minister of Finance
mid November 2015
Advise applicants late November 2015 Service delivery starts March 1, 2016
10. Basis for Selection
10.1 Mandatory Requirements
The following are mandatory requirements. Proposals not clearly demonstrating that they meet them will receive no further consideration during the evaluation process. The proposal must be received at the closing location by the specified
closing date and time. The proposal must be signed by a person authorized to sign on behalf of
the proponent. The proposal must be in English and must not be sent by facsimile or e-
mail. The proponent must provide written confirmation of the proponent’s
independence and that the proponent has no conflict of interest related to the BC Games Society.
10.2 Criteria for Assessment
Proposals meeting the mandatory requirements will be assessed against the criteria noted below.
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Capability of the proposed audit team, Proposed audit strategy, and Price.
Suggested Point
Range
Capability of Proponent and Audit Team 40%
(a) the location and size of the proponent, the experience and capabilities of its partners, managers and staff in the audit of organizations similar to the BC Games Society, as well as that of additional staff required by the firm to carry out the audit. (Please provide resumes of the senior members of the proposed audit team);
10-15
(b) the proposed audit team’s experience in the audit of similar organizations and in other government organizations and public bodies, and details of skills or experience which are directly relevant to the capacity of the team to conduct the audit of the BC Games Society;
10-15
(d) the availability of resources to ensure deadlines are met in a timely manner;
5-10
(e the proposed audit team’s degree of familiarity with the extensive body of authoritative literature that is unique to the public sector;
3-5
(f) information on contributions made by the proponent in improving the financial administration of other public sector entities;
3-5
(g) quality assurance, quality control, and peer review programs within the firm;
3-5
(h) the proponent’s internal risk management techniques for liability, personnel and business loss exposures as they apply to the proponent’s operations and business practices;
3-5
(i) policies on notification to clients of changes in key personnel, and staff continuity on each audit; and
1-3
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Proposed audit strategy 30%
(j) general audit strategies and methodology employed 5-10
(k) the depth of the perceived audit needs and understanding of the key issues facing the BC Games Society, the implications of those issues for the conduct of the audit, and particular audit strategies and methodology for the BC Games Society including, but not limited to: – preliminary audit plan – substantive audit procedures to be undertaken – compliance audit procedures to be undertaken – report deliverables;
This section should include a discussion on the audit approach, scope and general audit procedures expected to be performed in the conduct of the BC Summer and Winter Games audits.
10-15
(l) a time budget, including estimated total hours for partners and other staff, (use Schedule #1);
10-15
Price 30%
(m) the maximum cost for which the requested work will be performed for each year of the term of the appointment. These amounts should include professional fees of audit and support staff and estimated out-of-pocket expenses.
20
Total 100%
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Schedule 1
TEAM MIX AND HOURS
(One calculation should be completed for each year where the hours differ)
HOURS Audit
Planning Audit Fieldwork
Review and Reporting
Total
Audit Partner
Review Partner
Sector Specialists
Audit Manager
Professionals
Students
Other Expert or Specialist Assistant (Detailed by category e.g., EDP)
Totals
[The hours to be worked by each member of the team should be clearly identified]
Appendix A
Organization Chart 2. ORGANIZATION 2.1 ORGANIZATION CHARTS 2.1.1 The Society The Society
Finance Committee
Audit Committee
Board of Directors
Marketing & Communications
Committee
Sport
Committee
Ad-hoc
Committee
Executive Assistant
Communications Assistant
Administrative Assistant
Event Manager
Event Manager
Event Manager
Event Manager
Marketing & Communications
Manager
Team BC Operations Manager
President and CEO
Appendix B
The BC Games Society’s Board Members and Senior Management
Position Name 1. Chair Byron McCorkell 2. Director Susan Archibald 3. Director Jamie Choi 4. Director Moira Gookstetter 5. Director Wade Loukes 6. Director Kjeld Brodsgaard 7. Director Donna Mihalcheon 8. Director Simon Whitfield 9. Director Sarah Zimmerman 10. Director Sue Bock 11. Director Chirs Graham* 12. Director David Calder 13. Director Rochelle Winterton 14. Director Jared Kuehl * denotes membership on Audit Committee Senior Management Kelly Mann, President and CEO Tina Yue Part time accountant
Audit Committee Chair Randy Decksheimer Member Jill Robertson Member Mary Murrell Member Christopher Coleman Member Chris Graham
Appendix C Transmittal Form
DRAFT The Proponent has read and agrees to all instructions, and provisions, contained in the Request for Proposal. The Proponent confirms acceptance of the instructions and provisions, and agreement to be bound by the statements made in the Proposal.
Proponent’s Full Legal Name: _________________________________________
Signature of Person Authorized to contract on Behalf of Proponent: ______________________
Name and Title of Authorized Person: _________________________________________
Date of Signing: _______________________
Appendix D
Service Agreement
Between:
The BC Games Society
and
Name of Firm (the Auditor)
Whereas
The BC Games Society requires financial statement audits for the BC Games Society and the host communities of the BC Summer Games and BC Winter Games.;
the Auditor has agreed to perform the audits of the BC Games Society and other entities pursuant to this Agreement;
The BC Games Society is a government organization, as described in the Budget Transparency and Accountability Act; and
the Auditor General of British Columbia, pursuant to the Auditor General Act, has been assigned certain responsibilities with respect to the financial statement audits of all government organizations;
The parties agree as follows:
The Auditor agrees:
1. to perform the audit of the annual financial statements of the BC Games Society as at and for the years ending March 31, 2016 to 2020 inclusive. The engagement is subject to the terms of this Agreement, the Request for Proposal, the Proposal, and the Audit Planning Memorandum.
2. to express an opinion on the financial statements of the BC Games Society and to assist the BC Games Society and the Comptroller General to meet any statutory and reporting requirements where financial information or an auditor’s report is needed for inclusion in the Public Accounts of the Province.
3. to provide the information necessary for the Auditor General of British Columbia to express an opinion on the financial statements of the Province of British Columbia, and to meet any statutory and reporting requirements of the Auditor General Act.
The BC Games Society agrees:
1. to pay the Auditor’s fees and expenses, up to the maximums set out below, for satisfactory performance of the audit.
Fiscal year ended
Professional Fees (maximum)
Expenses (maximum)
March 31, 2016
March 31, 2017
March 31, 2018
March 31, 2019
March 31, 2020
These fees and expenses are subject to GST.
2. to pay the Auditor’s fees and expenses relating to the other entities as follows, for satisfactory performance of each audit.
The Auditor will:
1. perform the audit of the financial statements of the BC Games Society and other entities in a timely and professional manner according to Canadian generally accepted auditing standards.
2. prepare an Audit Planning Memorandum which, as a minimum requirement, will contain the information outlined in Attachment 1 to this Agreement.
3. meet the various critical dates set out by the Comptroller General and the Auditor General. These dates should be identified in the Audit Planning Memorandum. For the current audit cycle, the BC Games Society is required to have draft financial statements to the Comptroller General’s office by April 19 and signed
audited financial statements by May 20 (based on current information from the Office of the Comptroller General—this date is subject to change).
4. provide a clear and concise management letter containing details of audit findings and recommendations to management by April 30.
5. prepare a report to the Board of Directors on the BC Games Society’s financial statement audit that includes the information outlined in Attachment 2.
6. if requested, provide access by the Auditor General to all or part of its audit working papers. Information provided to the Auditor General under to this provision will, except as may be required to be disclosed by law, be maintained in confidence by the Auditor General and will be used by him only in connection with the performance of his duties under the Auditor General Act.
7. communicate with the Auditor General concerning the Auditor General’s intended reliance on the work of the Auditor pursuant to Section 6930 of the CICA Handbook. Meet with the Auditor General for the purpose of reviewing working papers, audit opinions and management letters. Advise the Auditor General of the dates, times and locations of all significant meetings with management or the governance board so that the Auditor General has an opportunity to attend those meetings.
The BC Games Society will:
1. Implement and maintain a system of internal control, relative to the size of the office staff, which is adequate to permit accurate financial reporting by the BC Games Society.
2. Prepare financial statements for the BC Games Society in accordance with Canadian generally accepted accounting principles, including disclosure of significant accounting policies adopted by the BC Games Society.
3. Disclose all liabilities and debt obligations, claims and contingent liabilities, related party transactions, and all material agreements and transactions.
4. Make all financial records, books of account and related data available on a timely basis.
5. Provide a management representation letter, in accordance with Canadian generally accepted auditing standards, that meets the reasonable requirements of the Auditor.
Other:
1. The Auditor and the BC Games Society may agree, in writing, to additional terms of engagement that supplement but do not contradict the terms set out in this agreement.
2. The Auditor will indemnify the BC Games Society against all claims, damages, cost, and expenses arising from anything done or omitted by the Auditor in relation to the services provided under the terms of this Agreement.
3. The Auditor will, except as may otherwise be required to be disclosed by law, keep strictly confidential, and will ensure that its employees and other representatives keep strictly confidential, all information concerning the BC Games Society acquired through activities related to this Agreement.
4. The Auditor will not perform any additional services for the BC Games Society if the provision of the service would impair independence or lead to a conflict of interest.
5. The Parties designate the following individuals as their primary contacts under this Agreement.
The BC Games Society Auditor
• Kelly Mann, President and CEO of BC Games Society • Randy Decksheimer, Chair Audit Committee • Tina Yue, part-time Accountant • Glenda Rae, Executive Assistant
• Name, Engagement Partner • Name of Auditor
6. This Agreement will be governed by and construed according to the laws of British Columbia.
Signatures:
The Parties agree to the terms of this engagement.
The BC Games Society Auditor
Date Date
Attachment 1
The BC Games Society Audit Planning Memorandum Year Ending March 31, 2016
Table of Contents
1. Audit purpose and objectives
2. Recent events and activities of the entity
3. Special financial statement requirements
4. Recent developments in financial reporting that may affect the entity
5. Materiality and its basis and calculation
6. Overall audit assurance level
7. Critical and significant audit areas
8. Audit approach to dealing with significant audit areas and risks associated with each area.
9. Auditor engagement team
10. Client assistance
11. Internal Audit assistance
12. Management letters/Status and disposition of previous communications
13. Audit timetable and critical dates
14. Budgeted hours and fees
Attachment 2
The BC Games Society Report to the Audit Committee Year Ending March 31, 2016
Table of Contents
1. Audit Scope • Auditor’s responsibilities under GAAS. • Identification of the financial statements audited, qualified/unqualified opinion to be
issued, whether co-operation received from client, access received to records and documents, etc.
• Materiality and audit risk levels.
2. Important Accounting and Reporting • Significant estimates and the measurement of uncertainties. • The more significant recommendations for improvement discussed at the exit
conference. • Significant accounting policies. • Significant adjustments to statements. • Significant/major unadjusted differences. • Auditor’s view on significant matters on which management consulted other
accountants. • Difficulties in performing the audit.
3. Review of Governance, Accountability, and Internal Controls • Strengths and weaknesses observed. • Discussion of current and developing business risks.
4. Potentially Sensitive Matters the Committee/Board Should Be Aware of
• Illegal acts. • Significant transactions inconsistent with the ordinary course of business. • Unusual actions which significantly increase the risk of loss to the entity. • Actions which, if they became public, might cause serious embarrassment to the entity. • Disagreements with management. • Matters that bear on independence.
5. Matters Pending and Other Services • Items still outstanding, such as representation letter, legal letter replies, confirmations
from secondary auditor, etc.
Attachment 3
RECEIPT CONFIRMATION FORM
Request for Proposal for Financial Audit Services Closing Date: September 24, 2015
To confirm your interest and to receive any further information about this Request for Proposal please return this form immediately to:
Glenda Rae, Executive Assistant 200-900 Fort Street
Victoria, BC V8V 3K2 Fax number – 250-387-4489
Phone number – 250-387-4685 Email – [email protected]
Failure to return this form may result in no further communication regarding this Request for Proposal. FIRM: STREET ADDRESS: CITY: POSTAL CODE: MAILING ADDRESS IF DIFFERENT:
FAX NUMBER: PHONE #: CONTACT PERSON: E-MAIL ADDRESS: We have received a copy of the above noted Request for Proposal. [___] Yes, we will be responding to this Request for Proposal. [___] We will not be submitting a proposal. [___] I authorize BC Games Society to send further correspondence that it deems necessary. Please send further correspondence about this Request for Proposal by: [___] Courier collect: Courier name and account no. _____________________________ [___] Mail: [___] E:Mail: _____________________________________ Fax: __________________ Signature: _________________________ Title: ____________________________ Date: _________________________
