Financial Statement Preparation and Audit Services 2025-2028

The Town of Leaf Rapids (“Town”) requests proposals from qualified firms to provide professional services for the Town for a four (4) year term commencing 2025. The proposal will cover the fiscal period from January 1 to December 31, of each of the following years:
 

• 2025
• 2026
• 2027
• 2028

The auditor will be required to prepare the following deliverables:

1. General-purpose financial statements in accordance with Public Sector Accounting Standards and Manitoba’s template for municipal audited financial statements. This includes the conversion of the Financial Plan accounting practices used throughout the year by the Town to the PSAB reporting format required for the annual audited financial statements. This also includes reviewing and preparing any necessary information from the Town’s single controlled entity, an inactive public library.

 

2. An audit in accordance with Public Sector Accounting Standards (PSAS) as defined by the Public Sector Accounting Board (PSAB) and the Canadian Auditing Standards adopted by the Auditing and Assurance Standards Board. The audit services are to be performed on the Town’s general purpose financial statements, for the purpose of expressing an opinion on the fair presentation of the Town’s financial position. The audit shall be performed in accordance with PSAS and in accordance with Part 6, Division 5 of The Municipal Act, and must be submitted by the auditor to the Town, and then directly by the auditor to the Province of Manitoba.

 

3. An audited expenditure report for the Province of Manitoba related to information and expenditures made by the Town that includes but is not limited to fuel tax grants.

 

4. The supplementary report required by subsection 190(2) of The Municipal Act.

 

5. An internal control memorandum advising of any issues related to internal control, accounting systems, and legality of actions that in the auditor’s opinion should be brought to management’s attention.

Prior to submission of the audited financial statements and supplementary report, the audit firm’s staff is required to review the proposed audit opinion report and supplementary report with the Chief Administrative Officer and the Town’s Administrator. For the 2025 and 2026 fiscal years, this is to occur as soon as the audit is completed. For the 2027 and 2028 fiscal years, this is required before June 30th in the year following the year for which the audit is prepared, in accordance with Section 190 of The Municipal Act.
 

Bidding and Documents are available on http://www.merx.com. Fees may apply; See https://www.merx.com/public/pricing for more information.