FINANCIAL STATEMENT AUDIT SERVICES-#DCFS21-04
Proposal Due Date: March 19, 2021 at 5:00 PM PST
The City of Los Angeles Fire & Police Pensions (“LAFPP” or “Plan”) is seeking proposals from qualified certified public accounting firms to conduct annual audits of LAFPP’s financial statements for the fiscal years ending June 30, 2021, 2022, and 2023. Firms submitting proposals must have previous experience in auditing large Public Pension/Retirement Systems with at least $5 billion in plan net assets. LAFPP intends to award a three-year contract with a maximum fee proposal for each fiscal year.
The State of California requires all California Public Retirement Systems to furnish audited financial statements to the State Controller annually under Sections 7501-7504 of the Government Code. Audited financial statements are also required under the City of Los Angeles Charter Section 362.
To assist your firm in estimating the level of effort required to render an opinion on the compliance requirements, the Minimum Audit Requirements and Reporting Guidelines for Public Retirement Systems issued by the State of California Controller’s Office are available at https://sco.ca.gov/Files-ARD-Local/LocRep/retirement_audreqs.pdf