Switching from State Auditor's Office to other independent auditor

[caim]

We are a single-employer DB plan, with $1 billion assets. We are thinking of switching from the State Auditor's Office to other independent auditor for our 2012 financial audit and onward. We are interested to know if there will be real value added to the system. Any input on this subject is greatly appreciated.

[mcamuglia]

We've always used an independent auditor for our financial audit (currently KPMG) and the value add for us is 1) maintain conversation and updates regarding GASB issues 2) provide training opportunities on a variety of issues 3) throughout the year, we are able to reach out and get feedback on how we might deal with an accounting issues and 4) participate in audit committee meetings, helping committee to understand financial audit.

[caim]

Thanks for your response, mcamuglia. Just wondering if you could provide us sample of your RFP. Thanks.