RFP: Financial Auditor Search
The Los Angeles County Employees Retirement Association (bti体育) is requesting proposals from qualified firms interested in providing financial auditing services. bti体育 is requesting proposals from qualified auditing firms to perform financial auditing services for bti体育鈥檚 Retirement Plan and OPEB Program. The Los Angeles County Employees Retirement Association (bti体育) is seeking a certified public accounting firm to audit its annual financial statements for five fiscal years (FY 2026 鈥 FY 2030) with an option to extend for two additional one-year terms.
Scope of Work for Financial Auditing Services
The selected Financial Auditor (AUDITOR) will provide the following services as outlined below.
Scope of Services 鈥 Assurance & Attestation
Financial Statement Auditing Services
- Perform an audit and express an opinion on the fair presentation of bti体育鈥檚 annual financial statements, including the Pension Trust, the OPEB Trust, and the OPEB Custodial Fund.
- Perform an audit and express an opinion on the fair presentation of the schedule of changes in fiduciary net position by employer for Los Angeles County's portion of the OPEB Trust.
- Perform sample testing on disability retirements to ensure the processes and related Board determinations are compliant with Board policies. Provide a written report summarizing the work performed and findings.
- Present audit results to the Audit, Compliance, Risk, and Ethics (ACRE) Committee.
GASB Disclosure Auditing Services
- Perform an audit of schedules related to GASB Statement No. 68, Accounting and Financial Reporting for Pensions and GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions, and express an opinion on the fair presentation of these schedules.
- Document the results in a written report.
Financial Statement Advisory Services
- Review the Annual Comprehensive Financial Report against the guidelines for the Certificate in Excellence in Financial Reporting from the Governmental Finance Officers Association (GFOA).
- Provide educational training on financial statements related topics to ACRE and bti体育 staff, as needed.
- Proactively evaluate and provide ACRE and bti体育 staff with timely information on new developments, trends, or changes in the auditing and/or financial accounting standards relevant to bti体育, as needed.
bti体育 Initial Readiness Assessment Review
- Review and evaluate bti体育's internal controls over financial reporting using the COSO framework and provide feedback on identified concerns.
- Obtain and document an understanding of the key Information Technology General Controls related to bti体育鈥檚 accounting system.
- Identify value-added services that the audit firm believes would assist bti体育 in maturing its financial statement process.
Special Ad-hoc Auditing Services
- Perform special auditing projects as requested and defined by bti体育.
Scope of Services 鈥 Consulting
Non-attestation Consulting Services
- Provide financial accounting consultation services to bti体育 management on any technical, policy, or plan administration related to the Retirement Plan or OPEB during the course of operations.
- Provide educational training on financial accounting to bti体育 management on an as needed basis.
- Proactively evaluate and provide bti体育 management with timely information on new developments, trends, or changes in the financial accounting standards relevant to bti体育.
Special Ad-hoc Auditing Services
- Perform special auditing projects as requested and defined by bti体育.
AUDITOR will coordinate with the external financial auditors of the County and with bti体育's actuary to provide the County with the information and data needed for accurate and timely completion of the County's annual financial statements. AUDITOR will comply fully with SAS No. 122, Statements on Auditing Standards: Clarification and Recodification, and AU-C section 600, Audits of Group Financial Statements.
Submission Requirements
Respondents to this RFP must submit the following for delivery no later than 5:00 PM PST on June 25, 2025 to the Project Manager. below. Responses received after the specified deadline may be considered for evaluation solely at the discretion of bti体育. In addition, bti体育 reserves the right to request additional information or clarifications from respondents, or to allow corrections of errors or omissions.
Contacts with bti体育 personnel about this RFP, and all inquiries and requests for information shall be directed at the Point of Contact identified below:
Project Manager
Kristina Sun, Senior Internal Auditor
bti体育
300 N. Lake Avenue, Suite 840
Pasadena, CA 91101-4199
Phone: 626-657-6364
Email: ksun@lacera.com
Send an electronic copy in PDF or Microsoft Word format of the original and redacted responses, if applicable. If Respondent requires any confidential information to be exempt from public disclosure, then submissions should also include one electronic copy marked 鈥REDACTED鈥. Questions Related to This RFP.
All questions received and responses thereto will be posted on bti体育鈥檚 website (www.lacera.com) under the "RFP Opportunities" section on or about 3:00 PM PST on June 11, 2025.
Tentative Timetable
bti体育 RFP Issued
April 30, 2025
Submission 鈥 Letter of Intent to Respond
May 28, 2025
Submission 鈥 RFP Questions Deadline
June 4, 2025
bti体育 Response to Written RFP Questions
June 11, 2025
Submission - RFP Response Deadline
June 25, 2025
Contact Respondents and Invitations to Interview, as Warranted
July 23, 2025
Audit Committee Final Selection and Approval
Mid-August 2025
Commencement of work (upon contract execution)
October 2025