Cloud-Based Annual Financial Statements Preparation and Audit Collaboration Software

The City is seeking a modern, cloud-based financial reporting solution to replace or significantly upgrade its existing annual financial statements preparation and audit collaboration software. The agency needs to reduce manual data handling, duplication, and reliance on Excel processes while improving efficiency and accuracy in preparing annual financial statements and related audit deliverables. This project requires a scalable platform with a public sector-specific data model that supports appropriate grouping, mapping, validation rules, and future statutory reporting requirements. The requested scope of work covers implementing a solution that automatically updates linked numbers, tables, and disclosures across statements, notes, and related reports. The software must enable real-time collaboration with the external auditors of the City, utilizing role-based permissions, robust audit trails, version control, and change tracking. To ensure a smooth and controlled transition, the system must include built-in validation, diagnostics, and transition dashboards. Eligible bidders must be onshore organizations located in Canada. The agency requires the performance of the work to be completed 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.