Request for Bids for Ontario Nuclear Funds - Audit Services
Solicitation number tender_18803
Publication date
Closing date and time 2023/11/08 17:00 EST
Last amendment date
Description
The Ontario Financing Authority (OFA) and Ontario Power Generation Inc. (OPG) (collectively, the “Clients”) are seeking to appoint an established accounting firm to audit the annual financial statements of the Decommissioning Segregated Fund and the Used Fuel Segregated Fund (collectively, the “Ontario Nuclear Funds”) and the Ontario Nuclear Fuel Waste Act Trust (the “NFWA Trust”). The successful Bidder will be required to provide an opinion on the fairness of presentation of the financial statements of each of the Nuclear Funds and the NFWA Trust in accordance with United States generally accepted accounting principles (“US GAAP”) and to highlight any areas where the Nuclear Funds and the NFWA Trust do not comply with US GAAP. In the future, the adoption of International Financial Reporting Standards (“IFRS”) may become necessary to be consistent with the basis of reporting adopted by the OPG. The audit reports will be addressed to the Boards of Directors of OPG and the OFA.
The audit of the Nuclear Funds and the NFWA Trust will be similar to a pension fund audit with investments in market-traded investment instruments and disbursements based on approved annual budgets. Since this requirement is for the audit of investment fund financial statements, the associated nuclear waste liability figures are not presented on these financial statements and the audit of such liabilities is outside the scope of this assignment.
The audit of the Nuclear Funds and the NFWA Trust will be similar to a pension fund audit with investments in market-traded investment instruments and disbursements based on approved annual budgets. Since this requirement is for the audit of investment fund financial statements, the associated nuclear waste liability figures are not presented on these financial statements and the audit of such liabilities is outside the scope of this assignment.
Contract duration
The estimated contract period will be 60 month(s).
Trade agreements
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World Trade Organization Agreement on Government Procurement (WTO GPA)
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Canadian Free Trade Agreement (CFTA)
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Canada-European Union Comprehensive Economic and Trade Agreement (CETA)
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Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)
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Canada-UK Trade Continuity Agreement (Canada-UK TCA)
Contact information
Contracting organization
- Organization
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Ontario Financing Authority
- Address
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1 Dundas Street West, Suite 1200Toronto, Ontario, M7A1Y7Canada
- Contracting authority
- Mari Justo
- Phone
- 111-111-1111
- Email
- mari.justo@ofina.on.ca
- Address
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111-111-1111
Bidding details
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