CanadaBuys #217260

FedNor Solicitation for External ICFR Audit and Internal Monitoring Framework Development Services

FedNor, a Canadian government agency, is seeking independent audit and accounting services to assess and improve its internal financial controls. - Government Buyer: - Agency: FedNor (Federal Economic Development Agency for Northern Ontario) - Contact: Prashad Kandiah - OEMs and Vendors: - No specific OEMs; notable invited audit/accounting firms include: - ANTARES PROFESSIONAL CORPORATION - BDO Canada LLP - Cofomo Inc. - Collins Barrow Ottawa LLP - Deloitte LLP - Ernst & Young LLP - KPMG LLP - Lekadir LLP - MNP LLP - OXARO INC. - Pricewaterhouse Coopers LLP - QMR Staffing Solutions Incorporated - Samson & Associs CPA/Consultation Inc - Treewalk Consulting Inc. - Welch LLP - Products/Services Requested: - Assessment of Internal Controls over Financial Management (ICFM) and Internal Controls over Financial Reporting (ICFR) - Development of a sustainable, risk-based internal monitoring framework - Alignment with Treasury Board of Canada Secretariat requirements and COSO Internal Control – Integrated Framework - Unique or Notable Requirements: - Only pre-qualified Supply Arrangement Holders under E60ZQ-180001, Stream 6 (Financial and Accounting Services) are eligible - Security requirement: Reliability Status - Contract duration is approximately 7 months - Work must support management responsibilities for financial reporting, enhance governance and accountability, and establish ongoing internal control monitoring to reduce long-term reliance on external providers

Description

FedNor requires the services of an independent and qualified accounting or audit firm to assess the design and operating effectiveness of its Internal Controls over Financial Management (ICFM), including Internal Controls over Financial Reporting (ICFR), and to provide recommendations for improvement. The engagement will also include the development of a sustainable, risk-based internal monitoring framework aligned with Treasury Board of Canada Secretariat requirements and the COSO Internal Control – Integrated Framework. This work will provide independent assurance over FedNor’s financial control environment, support management’s financial reporting responsibilities, strengthen governance and accountability, and establish an ongoing approach to monitoring internal controls that reduces long-term reliance on external service providers. The contract duration is estimated to be 7 months, starting from August 31, 2026.

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