RFP0005-13 Questions resulting Pre-Bid Conference, April 9, 2013
1. How many adjusting journal entries did the predecessor auditor propose for the
FY 2012 financial statement audit? None
2. How many adjusting journal entries did the College make after providing the Trial
Balance to the auditors? None
3. Were there any disagreements with the predecessor auditors? No
4. How many years has the predecessor auditor performed the audit? 8
5. Will lead sheets and account reconciliations be provided to the auditors? yes
6. Will confirmations be drafted by the College? HGTC Asso VP with Auditor
7. Did (will) the College enter into any new lease agreements during FY 2013? One
8.
Did (will) the College enter into any new debt agreements during FY 2013? No
9. Has there been a change in accounting personnel during FY 2013? No
10. Are any changes in accounting personnel expected during the term of the audit
engagement (e.g., retirements, adding/deleting positions)? One
11. Provide qualifications of current finance department (e.g., years in current
position, years in governmental accounting, CPA, Degreed accountant?). 10+
12. What accounting software is used? Banner
13. Does the College maintain a fixed asset system for fixed assets which calculates
depreciation on fixed assets? If so, what is the system? Yes, AIMS (SC State
System)
14. Has there been a change in accounting software during FY 2013? No
15. Is a change in accounting software expected during the term of the audit contract?
Possibly
16. Are all accounting functions performed at one College location? Yes
17. When are the Foundations audited financial statements available? No sure, not
part of this request
18. When will the Trial Balance be available? 1st Week of August
19. When will the draft of the Schedule of Expenditures of Federal Awards be
available?
20. In the past, what adjustments were made (amounts and nature) from the
preliminary SEFA to the final SEFA?
21. How many hours were the auditors on-site in the past? 4-days/2012
22. What is acceptable timing to do interim work? May
23. When is the general ledger closed in order for the auditors to be able to start the
final year end work? 1st week of August
24. What responsibility does the College take in preparing the MD&A, the notes and
the financial statements versus what the audit firm is expected to prepare?
Associate VP of Finance will assist auditor
25. Are there any significant changes from the prior year that would have an impact
on our proposal? No
26. What were the base audit fees for each of the past three years for the financial and
procurement audit? Instruction provided in bid document
27. Were there any additional billings from the audit firm? If yes, describe nature and
amount. Contact former audit firm ( Instruction contained in bid document)
28. What were the total budgeted hours for the audit of the College for the audit from
the last winning proposal? Contact former audit firm ( Instruction contained in
bid document)
29. Can the College provide other downloads of files in either text format or Excel?
Yes
30. Can the auditors get read-only access to general ledger reporting? Yes