RFP for Forensic Accounting and Auditing Services
Classified Details
- Classified ID
- 2109
- Description
TOWN OF WILLIAMSTOWN, VERMONT
REQUEST FOR PROPOSALS (RFP) FOR
FORENSIC ACCOUNTING AND AUDITING SERVICES
Issued: December 09, 2025
Proposal Deadline: January 09, 2026 at 04:00 P.M.
TOWN OF WILLIAMSTOWN
P.O. Box 646
Williamstown, Vermont 05679
Contact(s):
May Edson, Administrative Assistant
Email: adminassistant@williamstownvt.org
Phone: 802-433-6671 ext. 102
Barbara Graham, Town Clerk
Email: clerk@williamstownvt.org
Phone: 802-433-6671 ext. 103
I. INTRODUCTION
The Town of Williamstown, Vermont (Town) is requesting proposals from qualified, independent
Certified Public Accounting (CPA) firms licensed to practice in the State of Vermont, with
demonstrated experience in forensic accounting, fraud examination, and municipal financial
audits.
The Town seeks professional services to perform one or both of the following engagements,
depending on findings and recommendations as the investigation progresses:
1. Preliminary Review (Assessment Phase)
2. Forensic Audit (Investigative Phase)
The purpose of this engagement is to provide the Town with an independent and objective
examination of selected financial accounts, processes, and records in response to credible
indications of potential financial irregularities.
II. TYPES OF ENGAGEMENT
1. Preliminary Review (Assessment Phase)
Conducted when suspicion is credible but unverified.
The auditor will:
? Review relevant financial statements, bank reconciliations, and transaction logs.
? Interview key staff (discreetly) to understand workflows and control processes.
? Identify “red flags” or anomalies needing deeper investigation.
? Recommend whether a full forensic audit is warranted.
This phase helps the Town limit costs and defines the scope before committing to a larger
investigation.
2. Forensic Audit (Investigative Phase)
A forensic audit goes beyond standard financial audits and focuses on uncovering evidence of
potential fraud or misconduct.
This phase may include:
? Detailed transaction testing (tracing funds and comparing to source documents).
? Bank account analysis, including personal accounts if subpoenaed later.
? Data analytics to detect patterns such as duplicate payments or falsified vendors.
? Email and communication review for collusion or intent.
? Reconstruction of accounting records if files were altered or deleted.
The resulting report should provide documented evidence and professional conclusions suitable
for potential referral to law enforcement, the Town’s insurer, or other authorities.
III. BACKGROUND INFORMATION
The Town of Williamstown has an approximate population of 3,500 and operates with an annual
municipal budget of roughly $3.5 million. The Town maintains separate enterprise and capital
project funds and uses the New England Municipal Resource Center (NEMRC) software for
general ledger, accounts payable, payroll, and property tax administration.
Finance functions are performed in-house, with oversight by the Town Manager and Selectboard.
Certain accounting or audit functions may be supported by external consultants.
IV. SCOPE OF WORK
The successful proposer will:
1. Conduct the agreed-upon scope of review (Preliminary or Forensic).
2. Work with designated Town representatives to obtain access to relevant records and
systems.
3. Preserve the integrity of all original records and maintain a chain of custody for potential
evidence.
4. Provide confidential written updates to the Town Manager and/or Selectboard as
designated.
5. Produce a final written report summarizing findings, supporting evidence, and
recommendations for corrective action or referral.
6. Present findings to the Selectboard in executive session, followed by a public summary
report.
V. DELIVERABLES
? A written scope confirmation and work plan prior to initiating fieldwork.
? A Preliminary Review report summarizing findings and recommendations (if applicable).
? A Forensic Audit report, including detailed analysis, supporting schedules, and
documentation of findings.
? A management letter identifying internal control weaknesses and corrective
recommendations.
? Oral presentation of findings to the Selectboard.
All materials and reports become the property of the Town of Williamstown.
VI. TIMELINE
Milestone Target Date
RFP Issued December 09, 2025
Proposals Due January 09, 2026 at 04:00 P.M.
Selectboard Contract Review January 12, 2026
Contract Award
“Upon March 10, 2026; Town Meeting
Vote”
Preliminary Review Report (if applicable) “As determined by scope”
Final Report Presentation “As determined by scope”
VII. PROPOSAL REQUIREMENTS
To facilitate objective evaluation, proposals must be organized as follows:
A. Title Page
? Name of firm
? Contact person and title
? Address, phone, and email
? Date of submission
B. Letter of Transmittal
? Statement of understanding of the requested services
? Commitment to confidentiality and independence
? Identification of proposed engagement lead and key personnel
? Statement confirming all-inclusive fee structure (see Section VIII)
C. Experience and Qualifications
? Description of experience in forensic and municipal accounting, especially for Vermont
municipalities.
? Resumes or bios of staff to be assigned.
? Summary of professional certifications (CPA, CFE, etc.).
? Description of quality control or peer review history (attach latest report).
? Three (3) relevant municipal or forensic engagement references.
D. Approach and Methodology
? Discussion of the firm’s approach to both the Preliminary Review and Forensic Audit
phases.
? Description of proposed analytical tools, techniques, and data handling methods.
? Estimated timeline and deliverables by phase.
E. Confidentiality and Legal Considerations
? Description of how the firm ensures confidentiality and evidence preservation.
? Acknowledgment of potential coordination with law enforcement or insurers.
F. Cost Proposal
Provide a detailed cost proposal that includes:
? Hourly rates by staff classification.
? Estimated total hours and maximum fees for:
1. Preliminary Review
2. Forensic Audit (if deemed necessary)
? Any additional costs (travel, data retrieval, approx. Williamstown staff hours, etc.).
? Payment terms.
G. Additional Information
Any other information that demonstrates the firm’s qualifications or adds value to the proposal.
VIII. SUBMISSION INSTRUCTIONS
Proposals must be submitted no later than January 09, 2026 at 04:00 P.M. to:
Contact(s):
May Edson, Administrative Assistant
Email: adminassistant@williamstownvt.org
Phone: 802-433-6671 ext. 102
Barbara Graham, Town Clerk
Email: clerk@williamstownvt.org
Phone: 802-433-6671 ext. 103
Electronic submissions (PDF format) are encouraged. The submitted proposals will not be
viewed by the Town Manager and/or Selectboard until January 12, 2026 after 07:00 P.M. at the
Selectboard Meeting in the presence of the public. A register of proposals received will be
compiled and will be available as public record on January 12, 2026 after 07:00 P.M. at the
Selectboard Meeting. If, at the time that proposals are due, the Williamstown Town Hall is closed
due to uncontrolled events, proposals will be accepted until Noon (12:00 P.M.) on the next full
day that the Williamstown Town Hall is open.
IX. SELECTION PROCESS
Proposals will be evaluated based on:
? Demonstrated experience in forensic and municipal audits
? Qualifications and expertise of proposed team
? Understanding of scope and proposed methodology
? Cost reasonableness and transparency
? References and prior performance
The Town reserves the right to reject any or all proposals, negotiate scope or fees, and award a
contract deemed in the best interest of the municipality.
X. TERMS AND CONDITIONS
? All work must comply with Generally Accepted Auditing Standards (GAAS),
Government Auditing Standards (Yellow Book), and applicable Vermont statutes.
? All findings and reports shall remain confidential until the Town authorizes release.
? No subcontracting or reassignment of work without written consent of the Town.
? The selected firm shall provide an engagement letter within 14 days of award outlining
terms, timelines, and deliverables.
? The Town may terminate the contract at any time for cause or convenience with written
notice.- Title
- RFP for Forensic Accounting and Auditing Services
- Application Deadline
- 01/09/2026
- Location
- Williamstown, VT
- Application URL
- williamstownvt.org
Contact Information
- Name
- Edson, May
- Phone Number
- (802) 433-6671
- adminassistant@williamstownvt.org
- Best Method of Contact