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Miscellaneous - Section APP.E APP.E-16 EVALUATION The following factors should ordinarily be considered during the evaluation: Technical Factors 1. Does the proposal clearly state an understanding of the work to be performed? Evaluators should consider: ‣ appropriateness and adequacy of proposed procedures. ‣ reasonableness of time estimates. ‣ appropriateness of assigned staff levels. ‣ timeliness of expected completion. 2. Technical experience of firm. 3. Qualifications of staff. 4. Size and structure of firm. Cost Factors Although cost is a significant factor, it should not be the dominant factor. Cost should be given more importance when all the other evaluation criteria are relatively equal. If there is reason to believe that an unreasonably low proposal has been made, it should be rejected. One method of measuring reasonableness is to divide the proposed cost by a reasonable average hourly rate to show hours of effort that might be expected. (Refer to page 18 for an example of a proposal evaluation method). 13
EXAMPLE OF A PROPOSAL EVALUATION METHOD Miscellaneous - Section APP.E APP.E-17 The following is an example of a method of evaluating proposals. The evaluation formula and the values assigned to the criteria given are for illustration only. Local governments should design formulas and criteria that meet its needs. Total scores will be determined by adding the points received for technical qualifications (maximum of 70 points) to the points received for the cost of the audit (maximum of 30 points). The total score will be determined by the following formula: Technical score for this firm Highest technical score received x 70 = Technical score Lowest cost of all bids Costs of bid for this firm x 30 = Cost score In the event that oral interviews are necessary, additional points will be given on a scale of 0-10. Although the total score will be a significant factor, the local government reserves the right to make the final selection. The evaluation of technical qualifications will be based on the following criteria: Mandatory Criteria Auditors will not be considered unless they meet each of the following criteria: 1. Must be a certified public accountant properly licensed to practice in the State of Tennessee. 2. Must meet the independence standard established by GAO. 14
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PREFACE This audit manual supersede
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Introduction This manual sets forth
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(9) Establish minimum standards for
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Section 9-3-213, Tennessee Code Ann
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SECTION A GENERAL INFORMATION Compt
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Auditing Standards and Requirements
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