Outsourced Internal Audit Services

OPPORTUNITY SUMMARY: OUTSOURCED INTERNAL AUDIT SERVICES

PURPOSE & SCOPE:

• Procurement: Contract for outsourced internal audit services for the Canada Deposit Insurance Corporation (CDIC).
• Project Objectives: Provide Chief Audit Executive services, develop and execute a risk-based audit plan aligned with CDIC’s corporate objectives, and deliver transparent reporting and actionable recommendations.
• Contract Type and Estimated Value: Initial contract for three years with potential up to five years of renewal options; estimated annual budget of approximately $500,000.

BUYER INFORMATION:

• Issuing Organization: Canada Deposit Insurance Corporation (CDIC)
• Contact Details: Roxanne Seguin, [email protected]
• Important Dates:
  • Posted Date: December 12, 2025
  • Due Date: January 14, 2026, at 12:00 PM

MANDATORY REQUIREMENTS:

• Certifications:
  • Chief Audit Executive (CAE) must hold a CIA (Certified Internal Auditor) designation, and at least one of either the CAE or Lead Auditor must also have a CPA (Certified Public Accountant) designation.
• Qualifications:
  • CAE: Minimum of 10 years internal audit experience in the last 15 years and 5 years as a Partner.
  • Lead Auditor/Account Manager: Minimum of 8 years internal audit experience in the last 10 years.
• Geographic Requirements: N/A

TECHNICAL REQUIREMENTS:

• Key Capabilities:
  • Development and execution of a risk-based annual audit plan.
  • Experience with crown corporations, financial services, and deposit insurance.
  • Ability to provide a team of resources closely aligned with CDIC's risk profile, including experts in Technology, Cybersecurity, Cloud, and Internal Control over Financial Reporting (ICFR).
• Deliverables: Annual audit plan, audit charters, final reports, and presentation to the Audit Committee.
• Performance Standards: High-quality audits delivered transparently to management and the Audit Committee.

PREFERRED QUALIFICATIONS:

• Additional Certifications:
  • Certifications in CISA (Certified Information Systems Auditor) are a plus.
• Experience: Familiarity with financial regulatory environment and past experience working with government or crown corporations is preferred.

KEY EVALUATION FACTORS:

• Proposal Evaluation: Evaluations will be based on the mandatory requirements and qualifications as outlined above.
• Weighting: Pass/Fail criteria for compliance with mandatory requirements.
• Past Performance: Demonstrated capability in previous engagements and relevant project execution.

This summary highlights critical matchable criteria to assess qualified company submissions effectively and streamline the proposal evaluation process for CDIC's internal audit services.