CalSTRS Seeks Audit, Consulting Services Firms
Selected firms, with expertise in auditing and consulting, would comprise a pool.
Sacramento, CA – The California State Teachers’ Retirement System (CalSTRS) is searching for firms to comprise a pool of expertise that will provide auditing, consulting, special projects, and training services.
The final filing date for proposals is June 8, 2009 with selections for the pool expected in the fall of 2009.
The contract period is up to three years with the possibility of two, one-year contract extensions. The proposing firms should have expertise in at least one of the following areas: internal and external auditing, consulting, advisory services, co-source auditing, special projects, and training. The expertise being sought will be applied in five areas:
- Organizational activities and cycles – Audit engagements of compliance, performance, operations, internal control assessments, financial, investigative and business continuity of CalSTRS business areas.
- Compliance with laws and regulations – Audit engagements to determine whether employers are complying with reporting payments, contributions, and documentation requirements.
- Information Technology (IT) – Audit engagements in technical assessment of CalSTRS IT systems or projects, such as data management, integrity and reliability, application development and IT customer service.
- Investments – Audit engagements in investment programs, such as private equity, corporate governance, global equity, investment operations, innovation and risk, fixed income and real estate, to provide auditing, co-source auditing, consulting and training.
- Enterprise-wide risk management – Establish a formal process to identify, assess, and monitor risks from all entity sources.
Proposing firms may be sole proprietors, corporations or partnerships. Once the pool of qualified firms is established, CalSTRS will request bids for each project from the most qualified firms within the established pool. Awarded contracts will have a contract period up to three years with the possibility of two, one-year contract extensions.
The California State Teachers’ Retirement System, with a portfolio valued at $114 billion, is the second-largest public pension fund in the United States. It administers retirement, disability and survivor benefits for California’s 833,000 public school educators and their families from the state’s 1,400 school districts, county offices of education and community college districts.