RFP for Single Audit for the Fiscal Year Ending December 31 2024, In Accordance with U.S. Department of State Requirements

How to apply

7. Instructions for Submitting Proposals

Within this section, we have included proposal submission requirements, including proposal structure, page

number limitations, formatting, and other matters. Note: unless otherwise indicated, the items listed in this

section are mandatory. Failure to comply may be considered non-responsive to the submission

requirements and may result in the respondent’s disqualification.

a. Submittal

a. Proposals must be submitted in Portable Document Format (PDF) via email to

[email protected] No hard copy submissions will be accepted.

b. The subject line of the email should state “[Your Company Name] – FY2024

Single Audit”.

c. Proposals must be received by MAGENTA by no later than 12PM GMT+3 on Monday 04

November 2024. Any proposal received after this deadline will be disqualified. MAGENTA

may extend the deadline by notifying all prospective bidders in writing. The extension of

the deadline may accompany a modification of the bid documents.

b. Formatting

a. All proposals should be double-spaced in Arial size 12 font and may not exceed 25 pages.

b. Resumes or curriculum vitae (CVs) do not count toward the page limit; however, each

resume may not exceed two (2) pages.

c. The Transmittal Letter, tables, charts, graphs, and appendices do not count toward the page

limit.

d. Standard 8.5 x 11 inch size pages shall be used.

8. Proposal Structure – Proposal submissions must take the following structure:

a. Transmittal Letter signed by an individual authorized to sign contracts on behalf of the

responding firm and authorized to legally and administratively commit the organization’s

resources. The transmittal letter must:

i. Not exceed three pages;

ii. Indicate the proposal is valid for at least 60 calendar days;

iii. Include a statement acknowledging this solicitation document and the Respondent’s

proposal are considered a part of any resulting contractual agreement; andBusiness Centre

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iv. Include a statement confirming the individual submitting the proposal is authorized to

commit his or her firm’s resources for the engagement and is authorized to enter into

legally binding contracts on the firm’s behalf.

b. Table of Contents – The Table of Contents should include hyperlinks to each major section of

the proposal.

c. Bidder Information

Each proposal must contain a bidder information page that identifies the RFP number and subject and provides at

the minimum the following information:

Full Company Name *

Trading name (if different from

registered company name)

Registered company address

Website address

* As per company registration document.

RFP CONTACT DETAILS

Contact name and title

Email

Phone

COMPANY REGISTRATION DETAILS

Registration type

Registration date

Registration number

Trade license number

d. Firm Profile – Each respondent must address all of the items, below, within their response.Business Centre

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United Arab Emirates

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▪ A description of the audit firm and its service lines (e.g., audit and attestation, risk

management, management consulting, international taxation, etc.)

▪ Size

▪ Geographical location(s) of offices/teams

▪ Management structure

▪ Number of professional staff by level

▪ Experience with the Uniform Guidance, Federal Acquisition Regulation, and awards

funded by DOS

▪ Experience performing Single Audits and other engagements under GAGAS

E. Minimum Qualifications – Each organization must meet the following minimum qualifications.

▪ Properly licensed to practice public accounting as a CPA firm or international equivalent

▪ Independent of MAGENTA FZE

▪ Have no undisclosed real, apparent, or perceived conflicts of interest with respect to

MAGENTA FZE and within the context of the Scope of Work. Should the respondent be

aware of such potential conflicts of interest, the respondent acknowledges and agrees that

it has made or will cause to be made a disclosure of each such instance.

▪ Is not suspended, debarred, or proposed for debarment by the United States Government.

▪ Has not been subject to any professional disciplinary action during the last three years. If

the respondent has been subject to such disciplinary action, details of such information

should be declared. This may be provided under separate cover and declared proprietary,

if desired.

▪ Has prior experience auditing organizations following International Financial Reporting

Standards (IFRS).

▪ Designated signing partner has prior experience auditing international, non-U.S. based

entities receiving federal financial assistance.

F. Audit Approach – Describe the firm’s approach to executing the Statement of Work (see Appendix A),

including the following key specifications:

▪ Specify audit approach for the financial statement and federal expenditure audit

separately.

▪ Understanding of the audit requirements and specifying the required financial statement(s)

and reports that must be issued under DOS and GAGAS requirements.

▪ An audit work plan communicating the phases of the audit and specific steps/tasks that

will be taken to complete the audit timely.

▪ Discussion of how technology will be utilized to provide for both audit efficiency and to

safeguard sensitive information and personally identifiable information.

▪ Audit timeline, including milestone dates and allow two weeks prior to report signing to

present draft reports and results to management.Business Centre

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United Arab Emirates

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▪ Description of all proposed audit team members, including but not limited to:

1. An estimate of time each team member will devote to the audit;

2. Certifications held by each team member;

3. Prior experience conducting Single Audits AND working with non-U.S. Based

entities;

4. Level within the firm;

5. Years of total experience, including separate identification of years of audit

experience; and

6. Identify individuals who are key personnel and, therefore, may not be substituted

without MAGENTA’s approval. The signing partner, senior manager, and senior

auditor are the minimum required key personnel.

▪ Assume the audit will be conducted remotely. Documentation is held electronically, and

MAGENTA will participate in video conferences via Microsoft Teams, Zoom or an

equivalent platform.

▪ Description of the Quality Assurance / Quality Control process that will be utilized during

the audit engagement.

▪ Specify the process for resolving any disagreements.

G. Subcontractors

▪ For any subcontractors the firm plans to utilize, include a description of the firm, its assigned

personnel, relevant experience, company headquarters location, office location of assigned

personnel, and percentage of the total fee allocated to the subcontractor.

▪ Describe the process the respondent will use to supervise the subcontractor’s performance

and ensure quality.

▪ Consistent with the provisions of 2 CFR Part 200.321, MAGENTA is committed to furthering

opportunities for small, woman-owned, veteran-owned and minority-owned businesses.

Therefore, a goal of 10 percent participation (i.e., 10 percent of the contract value set-

aside) has been established for this procurement. Respondents shall take affirmative

steps to include a small, woman-owned, veteran-owned or minority-owned business

certified by the United States Government or a State Government on its team.

e. Past Performance – Each respondent must provide the following information regarding three

financial audit engagements completed under GAGAS within the past 24 months:

i. Client Name

ii. Engagement Scope

iii. Fee Amount

iv. Name, Email Address, and Title of the client point of contact

v. Applicability/relevance to current requested audit

f. Pricing – Each respondent shall provide a firm fixed price quote for the conduct of the audit.

The following information must be provided. In addition, each respondent should propose a

milestone-based payment structure.Business Centre

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i. Separate estimates for the financial statement audit and Federal compliance and

internal control audit;

ii. Hours and rates per staff level;

iii. Total fees;

iv. Include $5,000 for travel to be used if needed and only if pre-approved; and

v. Assumptions supporting pricing.

7. Evaluation Approach: An Evaluation Committee will conduct scoring using the following rubric.

Separate evaluations will be completed for the financial statement and federal expenditure audits.

Criterion Scoring Comments

Satisfy minimum requirements Pass/Fail Eliminated if Fail

MBE/WBE/SBE Inclusion 10 Scores are 0 or 10

Firm Experience and Capabilities 10

Proposed Staffing 35

Past Performance 15

Audit Approach (including

technological approach)

30

TOTAL 100

Pricing will not be scored, but rather will be assessed for reasonableness.

8. Award of Contract and Audit Timeline

a. MAGENTA anticipates, but is not required to, issue an award to the successful bidder.

MAGENTA anticipates issuing a fixed-price agreement with payment subject to successful

completion of audit services. The agreement will be in USD.

b. The audit timeline will be negotiated with the selected audit firm; however, the audit completion

date must occur prior to the earliest applicable filing deadline.

9. Contract

a. A draft contract is included as Appendix B to this solicitation.

b. Respondents must provide any exceptions to the draft contract with their proposal submission.

Failure to provide exceptions denotes the respondent’s acceptance of the draft contract as-

written and no edits will be permitted at the time of award, if applicable.

c. An engagement letter prepared in accordance with the applicable auditing standards will

accompany the contract, which shall also include this solicitation and the respondent’s proposal as

formal components thereof.

Thank you for your consideration. We look forward to receiving your proposal.

Sincerely,

MAGENTA