RFP APA25.01 - VPA & VIT Annual Audit for FYE 2025, 2026, 2027

Background
The Virginia Port Authority (VPA) was established in 1952 as a political subdivision of the Commonwealth of Virginia to stimulate commerce through its ports, promote shipment of goods, and improve navigable waters.
The VPA operates through its affiliate, Virginia International Terminals (VIT), managing several cargo terminals.
The purpose of this Request for Proposals (RFP) is to establish a contract for a Certified Public Accounting Firm to conduct financial statement audits for VPA and VIT for the fiscal years ending June 30, 2025, 2026, and 2027.

Work Details
The selected CPA firm will perform a financial statement audit for both VPA and VIT, which includes:
1. A report on internal control and compliance.
2. A Single Audit as required by the Single Audit Act.
3. Compliance with generally accepted auditing standards and Government Auditing Standards.
4. Specific audit objectives include assessing the fairness of financial statements, understanding internal controls, ensuring compliance with laws and regulations, and evaluating procurement policies.
The contractor may also provide additional technical guidance up to eighty hours per year not related to the audit.

Period of Performance
The contract will be effective for three consecutive fiscal years starting from July 1, 2025, with an option for renewal for two additional years, not exceeding five consecutive fiscal years in total.

Place of Performance
The work will be performed at the Virginia Port Authority and Virginia International Terminals located in Richmond, Virginia.