M E M O R A N D U M
TO: Prospective Bidders
FROM: Bruce L. Bullard
DATE: February 9, 2010
of Request for Proposals Dated January 21, 2010 Pertaining to RFP 10-4:
On January 21, 2010, the Illinois Office of the Auditor
General issued a Request for Proposals (Professional and Artistic Services)
Audit and/or Attestation Services – RFP 10-4 Illinois Finance Authority. The upcoming engagement scope is to conduct
2010 financial audit, single audit and compliance attestation engagement for
the year ended
6-30-10 with a renewal option for audits of subsequent periods as provided by contract and set forth in the Request for Proposal (RFP). The original notice of intent to issue the rfp is available on our website at www.auditor.illinois.gov/Procurement-Bulletin/opportunities.asp.
At this date, the Illinois Office of the Auditor General is amending Section 13 (Special Provisions) on page 13 as follows:
13. Special Provisions (if any).
Expanded Scope Information Systems Review (Note: This is in addition to requirements set forth
in the Auditing Standards.) The OAG
requires all proposers to include in their technical proposal a block of hours
to be devoted to an expanded scope Information Systems review of the Illinois
Finance Authority (IFA). The number of
hours to be included in your proposal and reserved for this purpose is 400
hours for the compliance examination of the year ended June 30, 2010. [Unless otherwise directed at the time by the
OAG Audit Manager, this block of hours is not expected to be included in future
audit periods.] Proposers are required
to provide information about staff who would be qualified and available to
perform the expanded scope Information Systems review (See Sections B (3) and C
(3) of Part III and Sections A and B of Part IV in the Technical Requirements
portion of this RFP). In performing the expanded scope Information Systems (IS)
review aspect of this audit and attestation engagement, firms will be required
to interact with and take general direction from an OAG Information
Systems Audit Manager. The OAG IS Audit
Manager will develop the specific scope of the IS review based on background
information developed and submitted by the firm in accordance with OAG
directions. The OAG IS Audit Manager
will provide the firm with a list of the selected IS controls and the hours to
be allocated to each control, along with any associated requirements. The firm will be required to prepare a separate fieldwork
summary for the expanded scope IS review and to maintain separate workpapers
for this portion of the overall engagement.
Any findings resulting from the expanded scope IS review will be
included within the audit report or immaterial letter.
IFA has indicated to the OAG that they may participate in a new federal guaranteed lending program in fiscal year 2010 sponsored by the US Department of Energy (USDOE) as a part of the American Recovery and Reinvestment Act of 2009 (ARRA), aka the “Stimulus” bill. IFA indicated to the OAG that the USDOE may extend an invitation to become a “delegated lender” for the purposes of allocating federal guarantees under the USDOE Section 1705 and/or 1703 loan programs up to a certain mutually agreed upon amount. As IFA understands the anticipated USDOE action, IFA will have authority to underwrite federal loan guarantees on behalf of USDOE up to a set amount and may have the ability to charge fees to borrowers to off-set costs incurred by the IFA in connection with the delegated lender process. Proposers should be aware that the ARRA imposes new tracking and reporting requirements on recipients of Stimulus funds that may impact the federal Single Audit requirements under OMB Circular A-133.
Proposers should also note on page 6-10 of the Preliminary Survey completed by IFA (Preliminary survey is an item listed under Section 11-B of the RFP that is available for review at the OAG Springfield and Chicago Office) that it is implementing several new programs in fiscal year 2010 that will facilitate renewable energy, energy efficiency, clean coal projects and economic recovery jobs plans of the Governor. Proposers should take these new programs into account when preparing their proposals.