Florida State Board of Administration, Tallahassee, picked Clifton Gunderson and Ernst & Young as finalists to become the board’s first external auditor of the Florida Retirement System’s annual financial statements.
The board’s “audit committee thought it would be a good idea to have the auditing acknowledgement of a commercial auditing firm for the retirement trust funds,” said Dennis D. MacKee, communications director.
The state auditor general had conducted the audits, Mr. MacKee said.
The firm would audit the financial statements of the $112.2 billion FRS defined benefit pension plan and the $4.855 billion FRS 401(a) defined contribution investment plan annually for the next five years, starting with the current fiscal year, ending June 30, Mr. MacKee said. Both plans are overseen by the board, whose assets total $132.5 billion.
The board plans to make a decision April 20.