CIPO - Year-end Financial Statements Audit FY 2015-16 & 2016-17

This RFP is only for pre-qualified Suppliers for Work Stream 5: External Audit Services against Professional Audit Support Services (PASS) Supply Arrangement (E60ZG-060004).Description of Requirement:An external financial audit is required to examine CIPO’s financial statements for fiscal year 2015-2016 and 2016-2017 and to express an opinion as to whether they present fairly CIPO’s financial position as at March 31. CIPO’s financial statements are prepared to comply with Section 4 of the Treasury Board of Canada’s Policy on Special Revenue Spending Authorities and the Revolving Act. Note that the basic of accounting used in these financial statements differs from Canadian generally accepted accounting principles because services received without charge from other government departments are not reported as expenses; vacation pay and employee termination benefits liability are based on management’s estimates rather than based on actuarial valuations; and contingent liabilities are disclosed rather than recorded.The financial statements to be audited as at March 31, 2016 and March 31, 2017 are:- Statement of financial position;- Statements of operations and net assets (liabilities); and- Statement of cash flow.Work-stream 5: External Audit ServicesDuration of Contract:The “Initial Contract Period”, which begins on the date the Contract is awarded and ends on June 30, 2018.Option to Extend the ContractThe Contractor grants to Canada the irrevocable option to extend the term of the Contract by up toone (1) additional one (1)-year period under the same conditions.Security Requirements:Security Requirements Check ListCommon PS SRCL #6applies to and forms part of this requirement.