CPA Atlantic School of Business is Seeking Request for Proposals (RFP) for External Audit Services

The CPA Atlantic School of Business is Seeking Request for Proposals for External Audit Services.




CPA Atlantic School of Business Request for Proposal External Audit Services

Fiscal Years: April 1, 2018 to March 31, 2021

Issued by: CPA Atlantic School of Business Suite 1306, 2000 Barrington St. Halifax, NS, B3J 3K1

Return Date of Response: Friday, April 20, 2018 by 5:00pm

1.0 Nature and Purpose of CPA Atlantic School of Business

CPA Atlantic School of Business (CPA Atlantic) delivers the CPA Professional Education Program (CPA PEP) and CPA Prerequisite Education Program (CPA Preparatory Courses) in the Atlantic Provinces and Bermuda.

These programs create a challenging and rigorous CPA certification process that meets the needs of business, public practice, non-profit and government sectors. CPA Atlantic oversees the pre- certification education for Atlantic Canada and Bermuda’s professional accountants by providing a post- baccalaureate, co-operative educational program.

CPA Atlantic is incorporated under the Nova Scotia Societies Act as a not-for-profit organization and is a certified educational institution under the Income Tax Act. The registered office of CPA Atlantic is located at Suite 1306, 2000 Barrington St, Halifax, NS, B3J 3K1.

CPA Atlantic has fifteen full-time employees including thirteen staff in the Halifax office and student recruitment advisory staff located in each of Moncton, NB and St. John’s, NL.

2.0 Instruction to Bidders

This document constitutes a Request for Proposal (RFP) by the Board of Directors of CPA Atlantic, which defines CPA Atlantic’s requirements for external audit services.

The response to this RFP should include all pricing information.

Any additional services not specifically noted in this RFP may also be presented in a separate appendix for the consideration of CPA Atlantic.

3.0 Primary Purpose

The primary purpose of this RFP process is to select an auditing firm to provide external audit services for CPA Atlantic School of Business which delivers the best overall value in terms of experience, quality and price.

4.0 Term of Contract

The term of the contract is a three-year (3) term commencing with the fiscal year of April 1, 2018 and running to March 31, 2021.

Under this contract, the first year of audit services would commence for the fiscal year ended March 31, 2019. Written notice of ninety (90) days must be provided if either party seeks to terminate the agreement before the contract’s expiry date of March 31, 2021.

An annual engagement letter is required during the three-year (3) term of this contract. Appointment of auditors must be approved each year by members of CPA Atlantic at the Annual General Meeting.

5.0 Inquiries during the RFP Process

Any enquiries regarding this RFP should be directed to:

James Pratley
Director, Corporate Services
CPA Atlantic School of Business
Suite 1306, 2000 Barrington St, Halifax, NS, B3J 3K1 Tel:    902-429-4477

6.0 Submission of Proposal

Please submit your proposal by Friday, April 20, 2018 at 5:00 pm to:

CPA Atlantic School of Business
Suite 1306, 2000 Barrington St, Halifax, NS, B3J 3K1
Attention: James Pratley, Director, Corporate Services


  • Late proposals will not be considered.
  • CPA Atlantic will not be liable for any costs incurred by the bidders in the preparation of their response to this RFP.
  • The rejection of any or all proposals shall not render CPA Atlantic liable for any costs or damages.
  • CPA Atlantic will consider all proposals submitted in response to this RFP as confidential. The submission of a proposal will be deemed to be consent by the bidder.
  • CPA Atlantic reserves the right to accept any proposal submitted or to reject all proposals.

CPA Atlantic expects to formally notify the successful bidder on July 6, 2018 following the appointment of auditors at the AGM.

7.0 Termination of Contract

CPA Atlantic reserves the right to terminate the contract within 30 days written notice under the following circumstances:

  1. The auditing firm fails to perform in accordance with the specified service requirements as presented in this RFP.
  2. The auditing firm fails to provide any service as specified in the agreement without prior written notice.
  3. The auditing firm fails to meet the provisions of the RFP in any significant degree.

8.0 Bidder Qualifications

The minimum requirements for initial consideration as a candidate under this RFP include:

  1. Being a public accounting firm experienced and knowledgeable in the not-for-profit sector
  2. Demonstrating knowledge with respect to the external environment under which organizations in the not-for-profit sector face

9.0 Service Requirements

The services required by CPA Atlantic under this agreement would include the following:

  1. Participation in the Finance and Audit Committee meetings and conference calls as required to plan and close the audit
  2. Provision of audit services in accordance with Canadian generally accepted auditing standards
  3. Provision of an Independent Auditor’s Report as a component of the audited financial statements and the Management Representation Letter
  4. Preparation and filing of the T2 Information Income Tax Return with Canada Revenue Agency by the required filing deadline
  5. To advise the Finance and Audit Committee and management of CPA Atlantic of any forthcoming changes in accounting and reporting requirements for non-profits
  6. To serve as a resource and be available for consultation on accounting and related matters throughout the fiscal year

CPA Atlantic is responsible for the preparation and fair presentation of its financial statements in accordance with Canadian generally accepted accounting principles for not-for-profit organizations, and for the establishment of appropriate internal controls necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

10.0 Proposal Contents and Format of the Response

Please include the following in your submission to the RFP:

  1. An introduction to the firm
  2. The firm’s experience in providing audit services to the not-for-profit sector
  3. Demonstrated knowledge and expertise in the not-for-profit sector
  4. A description of the qualifications of the service team that will be directly responsible for the audit
  5. Fee structure for audit services including an estimate of the hours expected to perform the annual audit, an estimate of the fees for non-audit specific services and expected out-of pocket costs
  6. Description of the audit approach
  7. Three references, preferably from within the not-for-profit sector, including name and contact information for whom the firm has provided audit services in the past five years
  8. An attestation that no member of the service team is currently engaged or has been engaged within the past two years with CPA Atlantic or elsewhere in the CPA profession in the provision of educational services, including program development and evaluations
  9. Disclosure of any other actual or perceived conflict in the acceptance of the appointment as auditor

11.0 Basis of Awarding the Contract

CPA Atlantic will award the contract and sign an engagement letter with an independent auditing firm who, based on an evaluation of all responses and applying all criteria, is determined by the Board of Directors of CPA Atlantic to be the best qualified to perform the services and at the best value.

CPA Atlantic reserves the right to:

  • reject any or all proposals, to take any or all proposals under advisement
  • to request further information and clarification from any bidder
  • to accept any proposal as may be considered to be in CPA Atlantic’s best interest in meeting the standards of quality, experience, price and overall value.


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CPA New Brunswick

We are the Chartered Professional Accountants of New Brunswick (CPA New Brunswick). Our vision is for the Canadian CPA to be the preeminent, globally-respected business and accounting designation.