Title
Professional Auditing Services Agreement
History
On September 7, 2023, the Village issued an RFP for Professional Auditing Services. Three (3) audit firms submitted proposals, and Sikich LLP was selected to provide professional auditing services for fiscal years 2022 through 2026. In addition to demonstrating strong governmental auditing experience and technical qualifications, Sikich submitted the lowest cost proposal of the firms responding to the RFP.
Since the initial award, Sikich LLP has continued to provide audit services to the Village in a professional, responsive, and timely manner. Through completion of multiple annual audits, the firm has developed significant institutional knowledge and familiarity with the Village’s financial systems, accounting practices, internal controls, reporting structures, operational processes, and reporting requirements. Sikich also maintains extensive experience in governmental auditing and currently serves numerous municipal clients throughout the region.
Staff has been satisfied with the quality of service and technical expertise provided during the current engagement. Continued utilization of the current firm will provide operational continuity, maintain consistency in audit methodologies and reporting practices, reduce transition risks, and allow staff to continue leveraging the existing working relationship and institutional knowledge already established through prior audit years.
Transitioning to a new auditing firm would require substantial time and effort for onboarding, knowledge transfer, and familiarization with the Village’s operations and financial environment. A new auditor would likely require additional time to independently establish an understanding of the Village’s financial structure, historical information, and supporting documentation processes, potentially resulting in increased costs, inefficiencies, and duplication of effort for both staff and the auditor.
Based upon the firm’s perform...
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