How to draft a Request for proposals (RfP) for the appointment of a financial model auditor with Template and Sample
Originally published: 13/07/2021 11:56
Publication number: ELQ-57893-1
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How to draft a Request for proposals (RfP) for the appointment of a financial model auditor with Template and Sample

Thing to consider when writing a request for proposals for the employment of a financial model Auditor

A model auditor is an independent party that will review the financial model and certify that the model is working properly under base case and sensitivity cases. This certification is needed for lenders and is part of the Conditions Precedent to first drawdown.

The process of hiring a financial model auditor starts with writing an RfP which is basically invitation letter to accounting and audit firms to tender for the appointment of a financial model auditor to undertake a review of a financial model.

This guide and sample are indented to help you when you are drafting the RfP. It discusses important points that you should consider in the RfP for model auditor.

Here are the main topics included in the guide:
- What is an RFP for Audit Services?
- What should be included in the RfP for a model audit? 
✔ Section 1: Introduction
✔ Section 2:Preparation of Proposal 
✔ Section 3: Scope of Work or Technical Offer 
✔ Section 4: Fee or Financial Offer
✔ Section 5: The report/Deliverables 
✔ Section 6: Evaluation Procedure
✔ Section 7: Questions and Answers

Each section contains extracts from real project documents.

The sample/template can be used as a starting point for writing an RfP and can be customized to accommodates your project's needs.

This Best Practice includes
2 PDF files, one guide and one template

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