RFP AE-19-11 - Audit of Loan Service Provider Canadian Standard on Assurance Engagement Section 3416

Alberta Advanced Education (AE) requires a qualified Contractor to conduct four Canadian Standard on Assurance Engagement (CSAE) 3416, Reporting on Controls at a Service Organization, audits on Student Aid Alberta’s Student Loan Service provider DH Corporation operating as DH Student Lending Corporation “DH Student Lending Corporation”, located in Mississauga, ON. The first audit will be for controls in place between April 1, 2019 and March 31, 2020. Subsequent audits for April 1, 2020 – March 31, 2021, April 1, 2021 – March 31, 2022 and April 1, 2022 – March 31, 2023 are also required.

DH Student Lending Corporation uses systems, processes and controls designed to support the operation of the Student Aid Alberta program. DH Student Lending Corporation controls are put in place to ensure the reliability of financial reporting, compliance with the Student Aid Alberta student loan contract, to protect student information, and to safeguard Alberta’s assets. The intent of the CSAE 3416 audit is to report on controls at DH Student Lending Corporation and to test its operating effectiveness.

The audits of the student loan and grant processing operations will be conducted in place at DH Student Lending Corporation premises in Mississauga, Ontario.

The Contractor will conduct the audits in accordance with Canadian generally accepted auditing standards and the Contractor’s audit report will be issued in accordance with CSAE 3416. The audit reports will be a “Type 2” audit report prepared for a twelve-month period ending on March 31 of each year during the Contract term. The audit reports will be prepared using the “carve-out” method in which sub-service organizations used by DH Student Lending Corporation will not be in-scope for the audits.