Qualified Pension Plan (QPP) for LES - Professional Audit Services - (US)

Description

Global Affairs Canada (GAC) employs over 5,000 Locally Engaged Staff (LES) in Canadian diplomatic missions around the world. In the United States of America (US), GAC is responsible for the management of the Pension Plan for Employees of the Government of Canada Locally Engaged in the United States of America –Qualified Pension Plan (QPP). The QPP is registered in the US pursuant to the U.S. Internal Revenue Code and the Employee Retirement Income Security Act (ERISA). The QPP is a defined benefit plan under which employer contributions are transferred to trustees (or custodians) who safeguard the funds which are then invested in securities markets through investment managers. The QPP provides pension benefits to locally engaged staff in the US who are US taxpayers and third country nationals not subject to Canadian tax. In accordance with US legal and accounting standards, GAC must conduct an annual financial audit and prepare financial statements. GAC is seeking a qualified accounting firm to conduct an audit and prepare audit financial statements in accordance with U.S. generally accepted accounting principles, and to determine whether the supplemental schedules are fairly stated in the relation to the basic financial statements taken as a whole and in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under ERISA.