Forensic Audit Services

The City of Virginia, Minnesota is seeking professional firms to conduct an independent forensic audit of the local option sales tax revenues and related financial activities. The agency needs to provide the city council and the public with an independent assessment of the collection, management, transfer, investment, reporting, and use of these revenues and related funds. This audit aims to solve the problem of identifying and explaining any differences, discrepancies, or unexplained variances through a comparison of the expected remaining balance to the actual recorded balances. The scope of work covers the examination of accounting entries, journal entries, adjusting entries, fund transfers, and financial reporting related to the local option sales tax revenues. The selected firm must also review bond documents, official statements, trust indentures, debt service schedules, arbitrage calculations if applicable, and related financing documents to evaluate compliance with bond requirements. All requested work will be performed offsite. Eligibility is restricted to onshore organizations based in the United States. Bidders must submit any questions regarding this opportunity no later than July 8, 2026. Proposals may be submitted digitally via email or through the online portal, and the agency is currently open to budget proposals to determine the cost of these services.