RFQ 042726LB COSO Training and Implementation

Department of Procurement Services
160 South Hollywood Street Room 126 Memphis, TN 38112 (901) 416-5376
QUESTIONS
RFQ 042726LB COSO Training and Implementation
1. Has the SCBE ever had an Assessment of this nature or something similar?
a. If yes, when was the most recent needs assessment?
SCBE has conducted various internal reviews and limited-scope assessments related
to internal controls; however, a comprehensive COSO-aligned assessment of this
scale has not been performed recently.
b. Will SCBE provide access to that assessment prior to the submission date?
To the extent prior materials are relevant and available, SCBE will provide access
during the engagement phase.
c. If yes, was that assessment performed internally or externally?
Prior assessments have been a combination of internal reviews and external audits,
depending on the area of focus.
d. If yes, can you share the level of effort in time/hours and budget for the
assessment?
The level of effort has varied by project and is not centrally tracked in a comparable
format.
e. If yes, how many stakeholders are typically involved in the interviews?
Stakeholder involvement has included executive leadership, department heads,
finance, HR, IT, and school-based leadership. We anticipate approximately 20-40
stakeholders depending on scope.
f. Were there any findings in the assessment(s) process?
Yes, prior reviews identified opportunities to strengthen internal controls,
standardization, and documentation.
g. If there were findings, will SCBE share those findings and remediation status?
Yes, relevant findings and remediation updates will be shared with the selected firm
during onboarding.
2. If the SCBE has not had any prior assessment, can you share your expectations regarding
the following for the desired services?
a. For the identified districtwide key areas:
1. How many stakeholders would you anticipate?
Approximately 25-50 stakeholders across the six key functional areas, depending on
depth of engagement.
2. Are policies and procedures centralized or decentralized?
SCBE operates in a hybrid model. Core policies (e.g., finance, HR compliance) are
centrally developed, while execution and some procedures are decentralized at the
school and department level.
a. Are the policies and procedures in writing?
Yes, many policies and procedures are documented.

b. When were they last reviewed and updated?
Review cycles vary by department. Some have been updated recently, while others
will require modernization.
3. Are processes documented or mapped?
Documentation varies. Some departments have formal documentation and flowcharts,
while others will benefit from process mapping.
4. Will the assessment include other departments?
Yes, the scope may expand if dependencies or risks are identified.
3. Has the SCBE had any of the following additional types of assessments in the past?
a. Information Technology
Yes, periodic IT assessments tied to audits and security reviews.
b. Fraud
Yes, typically conducted in response to specific incidents or audit findings.
(Specific dates can be shared during engagement.)
4. What prompted the need for this assessment?
This effort is driven by the need to strengthen internal controls, improve risk
management, increase consistency, and align with COSO best practices while
building long-term internal capacity.
5. What are the greatest challenges of SCBE's operations in the current state?
Key challenges include:
Balancing centralized oversight with decentralized execution
Inconsistent documentation and standardization
Capacity constraints in key areas
Maintaining compliance while ensuring efficiency
Aligning systems, processes, and controls across functions
6. Have there been any significant findings in the last three years?
SCBE has had findings through audits and reviews related to compliance, process
consistency, and internal controls. While there have not been systemic fraud issues,
isolated concerns typical of large organizations have occurred. Relevant details and
mitigation steps will be shared during the engagement.
7. Delivery Format
SCBE anticipates a hybrid approach:
Training: in-person and virtual
Assessment: hybrid, with some on-site engagement
Reporting: combination of virtual and in-person as needed
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8. Timeline and Deliverables
a. Is Planning and Assessment in addition to the 12-18 month timeline?
Yes, the Planning and Assessment phase will precede and inform the 12-18 month
implementation period.
b. Does SCBE have reporting deadlines for external agencies?
SCBE complies with state and federal reporting requirements. While there is no
single deadline tied specifically to this engagement, timely progress is important to
support audit cycles, compliance reporting, and budget planning.
Thank you,
Procurement Services
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