Northern Illinois University
Sole Source #BML75430
Announcement of a Sole Source Purchase
Vendor: E.C. Ortiz & Co., LLP, Chicago, IL
Terms: One-time transaction
The University award process may be delayed up to thirty days as this award goes through a state approval process.
Friday, March 17, 2006
a contract for a cash handling procedures audit to
E.C. Ortiz & Co., LLP, Chicago, IL
This acquisition is for the hiring of an outside audit firm to review cash-handling practices in several key departments of the University that routinely do business on a cash basis.
This purchase is only economically available from a single source because the
vendor has handled situational external auditing for NIU for 5 years previously, and due to this previous relationship with this vendor, information gathered during previous visits to campus can be used as groundwork for a more detailed investigation of these departments. This firm is already familiar with many of the University's procedures and practices; has a proven track record with our University in this type of work and is tried and trusted with sensitive information; already has much of the information that it needs do a more specific audit; is in close geographic proximity to the University thus facilitating accessibility, prompt response, and fast on-call presence; and is able to begin work immediately and work within our intended time frame on this project. A new company would not have these capabilities and therefore would be considerably more costly an expenditure to the University in terms of both time and money. Therefore this award is economically feasible from only one source. This award is for a Fiscal Year 2006 purchase.
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