Chamber Audit Services RFP Now Open

Request for Proposal (RFP): Chamber Audit Services

• 2026
• 2027
• 2028

• All proposals must be received by 4:30pm on September 2, 2025.
• Proposals should be submitted in PDF format via email.
• Late submissions will not be considered.

• Conduct preliminary meetings with staff to determine audit timelines and deliverables.
• Review internal controls and assess audit risk.
• Examine supporting records, transactions and process.
• Conduct audit in accordance with Canadian accounting standards for not-for-profit organizations. The Chamber is registered with Industry Canada, under the Board of Trade Act.
• Confirm compliance with applicable regulatory and accounting standards.
• Prepare the audited financial statements with notes.
• Draft management letter addressing internal control recommendations
• Present audit findings to the Audit & Risk Committee, the Chamber’s Board of Directors.
• Attend annual general meeting upon request.
• Audit work will take place on site and/or remotely to be determined upon availability.

• Chamber fiscal year:  July 1 – June 30
• Key systems: 
  • QuickBooks Online
  • Chambermaster (CRM program)

• Financial records include multiple revenue streams such as membership dues, sponsorships and event fees.
• The Chamber is listed as a co-owner in a Joint Venture Agreement with Westerner Park for Agri-Trade Equipment Expo, an entity responsible for hosting two annual agricultural type tradeshows.  As part of its financial portfolio, the Chamber receives profit shares associated with this joint venture. Audit firms should also consider:
  • Reviewing financial transactions related to Agri-Trade, including revenue-sharing agreements, expense allocations and governance reporting.
  • Assess financial controls and reporting accuracy surrounding the joint venture.
  • Ensure any Chamber-held equity or receivable from the venture are property recorded and disclosed.

• Financial Statements for the year ending June 30:
  • 2023
  • 2024
  • 2025

• At least 10 years of experience with audits for similar sized organizations and not-for-profits.
• Familiarity with joint ventures, dues and fees-based revenues.
• Experience with multi-stakeholder environments.
• Bios and roles of key team members to be provided.
• Assurance that senior-level staff will oversee critical phases.
• Succession or back up plans if key audit personnel change.

• Local Area Business (10%)
• Chamber Member Business (10%)
• Cost-effectiveness (20%)
• Experience and qualifications (30%)
• Approach to the project and proposed timeline (20%)
• References and past work (10%)

• RFP issued: August 1, 2025
• Proposal submission deadline: September 2, 2025
• Evaluation period: September 2 – September 17, 2025
• Vendor selection: September 17, 2025
• Vendor appointment:  October 2, 2025
• Project start date: July/August 2026

• Payments for audit services will be made in accordance with the terms outlined in the official agreement between the selected firm and the organization.  This includes:
  • Agreed-upon fee structure
  • Payment milestones
  • Any applicable taxes and disbursements
  • Procedures for invoices and reimbursements

• The vendor must maintain confidentiality about all proprietary information.
• The vendor must comply with all federal, provincial, and local laws, regulations and professional standards governing audit practices.
• Vendors must disclose any potential conflicts of interest, including prior relationships with Board members, staff or affiliated entities.
• All reports, documents and deliverables produced under the contract will become the property of the organization.
• The organization reserves the right to terminate the contract at any time with appropriate notice, should performance be unsatisfactory or obligations unmet.
• Vendors must maintain robust safeguards for handling sensitive data, including encryption, secure storage and limited access protocols.
• No subcontracting is permitted without prior written approval from the organization.
• The vendor must carry Professional Liability Insurance throughout the term of the contract.