Admin Seeks Independent Forensic Accounting Firm for State Treasury Review
In accordance with Proviso 93.19 of the FY 2024-2025 South Carolina Appropriations Act, the South Carolina Department of Administration (Admin) seeks proposals from independent forensic accounting firms, experienced in forensic accounting, to conduct a forensic accounting review of all cash and investments held in the State Treasury.
The awarded contractor’s work will include, but may not be limited to, an analysis of all cash and investments held in the State Treasury and the reconciliation and balancing of all such cash and investments with any unreconciled funds managed by the relevant state agencies within the state’s reporting systems. This analysis also includes a review of the amounts of cash and investments reported in historical state Annual Comprehensive Financial Reports (ACFRs).
In addition, the awarded contractor must, as part of the forensic accounting review, provide findings and recommendations for any corrective entries and actions necessary, along with recommendations for procedures and controls to be implemented in the future.
For more information and to submit a proposal, view the State Treasury Accounting Review Request for Proposals. Questions from prospective respondents are due July 1, 2024. Proposals are due July 8, 2024, with a contract award in July 2024.