Professional Auditing Services
Addendum to RFP
Questions and Answers
- Can you provide the fees paid for prior year’s audit?
We will not disclose previous fees paid.
- What were the number of hours spent by the previous auditors?
We estimate fieldwork hours were 48-56.
- What is the anticipated timing for the audit?
In previous years, fieldwork began the first week of September. Fieldwork, drafts, and final reporting must be completed by October 31st.
- What is the reason for bidding?
The museum has new leadership.
- Are the previous auditors eligible for rebidding?
- Are there any significant changes from previous year?
No. There are no significant changes.
- Does the museum own the building/facilities, or is it owned by the city?
The building is owned by the City of Detroit. There is an operating agreement.
- How many days of fieldwork was the prior audit team on site for, and what was the size of the audit staff in the field?
Previous auditors spent 6-7 days on site with 2-3 staff.
- Any endowments?
The museum has two endowments. One is managed by U.S. Trust and the other by the Community Foundation of Southeast Michigan.
- Is the collection off balance sheet?
- Can we get a copy of prior year’s audit and Form 990?
They will be emailed to you upon request.