Professional Auditing Services
Addendum to RFP

RFP #27MARCH2020

Questions and Answers

  1. Can you provide the fees paid for prior year’s audit?
    We will not disclose previous fees paid.
  2. What were the number of hours spent by the previous auditors?
    We estimate fieldwork hours were 48-56.
  3. 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. 
  4. What is the reason for bidding?
    The museum has new leadership.
  5. Are the previous auditors eligible for rebidding?
  6. Are there any significant changes from previous year?
    No. There are no significant changes.
  7. 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.
  8. 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.
  9. Any endowments?
    The museum has two endowments.  One is managed by U.S. Trust and the other by the Community Foundation of Southeast Michigan.
  10. Is the collection off balance sheet?
  11. Can we get a copy of prior year’s audit and Form 990?
    They will be emailed to you upon request.