Mount Prospect Village Demandstar #FIN2026-001

Auditing Services for Village of Mount Prospect Financial Statements and Internal Controls

The Village of Mount Prospect, Illinois, is seeking a qualified firm to provide comprehensive auditing services for its financial statements and internal controls. - Government Buyer: - Village of Mount Prospect, Illinois - Scope of Services: - Audit and express an opinion on the fair presentation of the Village's basic financial statements in accordance with generally accepted accounting principles (GAAP) - Provide opinions on combining and individual fund financial statements - Audit the financial statements of the Mount Prospect Public Library - Perform limited procedures on required supplementary information as mandated by GASB - Deliver reports on financial statements, compliance, and internal controls, including those related to federal awards and programs - Conduct an in-depth assessment of major business processes (accounts payable, payroll, cash receipts, utility billing) - Review policies, procedures, and internal controls - Make recommendations for improvements - Respond to inquiries from successor auditors and review working papers of continuing significance - Notable Requirements: - No specific OEMs or vendors are named in the solicitation - The selected firm must have the capability to review and assess internal controls and provide actionable recommendations - The auditor must be able to coordinate with successor auditors as needed - Quantities and Deliverables: - One comprehensive audit service engagement covering all specified areas - Period of Performance: - Field work is scheduled around mid-April; duration and option years are not specified

Description

The Village of Mount Prospect is seeking an auditor to express an opinion on the fair presentation of its basic financial statements in conformity with generally accepted accounting principles. The scope includes opinions on combining and individual fund financial statements, the financial statements of the Mount Prospect Public Library, and limited procedures on required supplementary information mandated by GASB. The auditor will issue reports on financial statements, compliance, and internal controls, including federal awards and programs. Additionally, the auditor will assess major business processes such as accounts payable, payroll, cash receipts, and utility billing, reviewing policies and internal controls and making recommendations. Field work is scheduled around the 2nd and 3rd week of April, and the firm must respond to inquiries from successor auditors.

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