Cloud-Based Annual Financial Statements Preparation and Audit Collaboration Software

The issuing agency is seeking a modern, cloud-based financial reporting solution to replace or significantly upgrade its existing annual financial statements preparation and audit collaboration software. This transition aims to improve efficiency and accuracy in preparing annual financial statements and related audit deliverables while reducing manual data handling, duplication, and reliance on Excel processes. The desired software must support a smooth and controlled transition through built-in validation, diagnostics, and transition dashboards. The scope of work requires a scalable platform capable of supporting additional statutory reporting and future reporting requirements for public sector entities. The system must feature a public sector-specific data model that supports appropriate grouping, mapping, and validation rules, and it must automatically update linked numbers, tables, and disclosures across statements, notes, and related reports. Additionally, the software must enable real-time collaboration with the city's external auditors, incorporating robust audit trails, version control, role-based permissions, and change tracking. Eligible bidders must be onshore Canadian organizations. The agency requires the performance of the work to be conducted offsite. Bidders must submit their responses digitally via email or online, and the agency is currently looking for proposals to determine the budget. All questions regarding this procurement must be submitted no later than June 12, 2026.