Proposal Call for External Audit Services

Guelph Soccer Club Incorporated

Guelph Soccer Club Incorporated is a community soccer club offering youth and adult programming year-round. The Club is incorporated as a not-for-profit corporation without share capital under the Corporations Act (Ontario). The Club is established for the purpose of advancing and growing the game of soccer in and around Guelph. As a not-for-profit organization, the Club is exempt from income taxes, except for taxes on interest income.

The Club is governed by a Board of Directors to whom the Executive Director reports. Committees of the Board include: Finance, HR, Environmental, Legacy and Awards and Governance.

1. Process
1.1 Notice of Interest

Firms wishing to participate in the Proposal Call must register by sending an email to Guelph Soccer Club Incorporated’s Executive Director, Sara McConaghy at: sara.mcconaghy@guelphsoccer.ca. Only those firms that have registered by Friday, November 26, 2021, and who have signed a confidentiality agreement will receive a copy of the Club’s Financial Statements for the year ended August 31, 2020.

Enquiries regarding the proposal process, the format of the response, or other specifications should be emailed to Sara McConaghy.

1.2 Questions

Guelph Soccer Club Incorporated will accept written questions and requests for clarification from firms until 5:00 pm on Friday, December 3, 2021. Responses to all questions will be issued as addenda to the RFP to all registered firms by Friday, December 10, 2021.

Your submission should acknowledge receipt of any addenda issued.

1.3 Closing Date and Time

The proposal must be submitted to Sara McConaghy by email no later than 5:00 pm on Friday, December 17th, 2021.

Late bids will not be accepted.

1.4 Decision

All proposals will be reviewed by the Treasurer and presented to the Finance Committee. Bidders may be asked to make a presentation to the Finance Committee in December 2021 or January 2022. The Finance Committee will recommend the appointment of the successful firm to the Board of Directors of Guelph Soccer Club Incorporated, who will recommend the appointment of the external auditor to the members. The successful firm will be appointed by the regular members at the Annual General Meeting in January 2022. The appointment will take effect for the fiscal year ending August 31, 2022.

2. Eligibility

Before preparing a response, candidates are advised to ensure that their firm can meet the following eligibility criteria. The firm should:

a)  have experience in providing similar audit services to similar non-profit groups;

b)  be licensed to practice public accounting and in good standing with CPA Ontario;

c)  have substantial resources and support services available;

d)  be able to assign experienced, well-qualified staff who can work on the audit consistently from one year to the next or offer a succession plan.

3. Scope and Requirements
3.1 General

Guelph Soccer Club Incorporated will appoint an external auditor for a three-year term, subject to satisfactory performance. However, reappointment will be reviewed annually, confirmed at the Club’s annual general meeting and may, at the discretion of the members, be declined should there be any unsatisfactory aspect of performance.

Commencing with the fiscal year ending August 31, 2021, the auditor’s work shall include:

  • an audit of Guelph Soccer Club Incorporated’s annual financial statements in accordance with Canadian Auditing Standards, preparation of the auditor’s report to the members of Guelph Soccer Club Incorporated indicating whether the annual financial statements are in accordance with Canadian accounting standards for not-for-profit organizations;

  • financial statement preparation which includes: preparation of adjusting journal entries (in consultation with management) and financial statement formatting;

  • preparation of required Canada Revenue Agency filings (Trust Return - T3)

  • attendance at meeting to present audited financial statements to Finance Committee;

  • attendance at the Club’s annual general meeting and act as scrutineers if required.

    The auditor’s work will not include accounting or bookkeeping.

3.2 Annual Schedule

In the summer of the fiscal year, the audit plan for the year will be presented to the Executive Director, Bookkeeper and Finance Committee. This plan should include, at a minimum, areas of focus, planned audit activities, timing, audit team members, estimated hours and fees.

If during the audit unanticipated issues arise, these should be brought to the attention of the Executive Director and Bookkeeper and a proposed response should be agreed to.

At the completion of the audit, a report should be prepared to the Executive Director, Bookkeeper and Finance Committee summarizing the results of the audit, areas for improvement in internal controls, summary of actual costs and overall conclusions. It is expected that, at a minimum, the audit partner will meet with the Finance Committee to review the results of the audit and any other matters.

3.3 Issues Identified During the Audit

The auditor shall, immediately upon discovery of information or conditions which would otherwise lead to the inclusion of a qualified opinion with respect to any of Guelph Soccer Club Incorporated’s financial statements, inform and fully discuss such matters with the Finance Committee. Also, the auditor shall, as far as possible, allow reasonable time for Guelph Soccer Club Incorporated to investigate, analyze, report, and take corrective action to possibly avoid the inclusion of qualification in the report.

3.4 Post-Audit Management Letter

Following the completion of annual financial statements, the auditor shall prepare and deliver a draft letter conveying any concerns that may have been identified in the system of internal controls. The auditor shall also provide recommendations about corrective measures that may be required. The auditor shall meet with the Executive Director of Guelph Soccer Club Incorporated to discuss the recommendations and management’s responses to observations and recommendations before they are formally presented to the Finance Committee. Senior audit staff shall attend the Finance Committee meeting to present or clarify their recommendations.

3.5 Terms of Engagement

The successful firm will be appointed for the fiscal year ending in 2022 and will be reappointed for two subsequent years, subject to the approval of the membership at their annual meeting based on the recommendation of the Board of Directors and satisfaction with service provided, including fees.

4. Proposal Content
4.1 General

The proposal should be structured to provide the following information:

a)  a profile of the firm, including breadth of other audit assignments and clients; resource and support services available; particular strengths relevant to the audit;

b)  experience of the firm in non-profit auditing, and in particular, golf courses;

c)  familiarity with Guelph Soccer Club Incorporated’s accounting software, QuickBooks Online;

d)  a description of the auditing approach and techniques to be utilized and procedures for completing the audit work and assisting in preparation of the financial statements;

e) the names and resumes or profiles of the partner, manager, and senior staff who will be assigned to the audit. Continuity of staff will be given a high priority and this must be so indicated.

f) the names of client officials for two of the firm’s present audit clients who would act as contact references, preferably in the non-profit sector;

g) commitment to the terms and conditions of the Proposal Call;

h) information regarding any advisory services which may be available to Guelph Soccer Club Incorporated, including but not limited to, publications dealing with matters such as HST, internal audit, internal controls, financial systems development and cash management;

i) an explanation of why your firm should be the successful candidate under the Proposal. Information on this item must be specific, detailed and verifiable.

4.2 Fees and Expenses

The proposal should include a quotation for the fees to be charged for the fiscal 2022 audit and an estimate of the probable fees for the remaining two years.

Note: Guelph Soccer Club Incorporated recognizes that there may be unforeseen issues and circumstances that fall outside of a normal audit. Any unforeseen issues and circumstances may influence the time required to complete the audit. An hourly rate for any additional work required by Guelph Soccer Club Incorporated not contained within the scope of this tender or resulting from unforeseen issues is to be provided.

Out-of-pocket expenses should be clearly stated to be either part of the estimated fee or billed separately. Fees must cover all assignments listed herein.

5. Conditions

Guelph Soccer Club Incorporated reserves the right to discuss any and all proposals, to request additional information from proponents and to decline any and all proposals made. The lowest cost proposal will not necessarily be accepted. Guelph Soccer Club Incorporated reserves the right to accept or reject any part of or all proposals.

Guelph Soccer Club Incorporated will not be liable for any costs incurred by the proponents in the preparation of their response to this proposal.

6. Selection criteria

Selection criteria will include, but not be limited to:

  • Experience of the firm in the auditing of non-profit organizations in Ontario;

  • Experience of the firm in the auditing of community sports organizations;

  • Experience of the personnel assigned to the audit;

  • Quality of the proposal and compliance with the Proposal Call requirements;

  • Auditor’s statement of understanding of the overall work scope;

  • References;

  • Fees.

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