The CalHFA Audit & Risk Management Committee convened on September 18, 2025, to discuss the upcoming transition of their independent auditing firm. The meeting began with a roll call confirming a quorum, followed by the approval of previous meeting minutes without objections.

A key focus of the meeting was the selection of a new auditing firm, as the current contract is set to expire in December 2025. The committee is tasked with interviewing potential successors to ensure a smooth transition. Two firms, Eide Bailey and Macias, Jeanne, and O'Connell (MGO), were invited to present their qualifications. Each firm was allotted time for a brief introductory presentation, which would not factor into the final scoring of their proposals.

Following the presentations, the committee planned to conduct structured interviews consisting of eight questions, allowing each firm approximately five minutes to respond to each question. The committee members were instructed to score the firms in real-time, with the results to be announced at a subsequent board meeting. The selected firm will enter contract negotiations, with any transition occurring in 2026 if successful.

The meeting highlighted the committee's commitment to a thorough and fair selection process, with acknowledgment of the staff's efforts in preparing for the interviews. The outcome of this meeting is significant as it will shape the auditing oversight for CalHFA in the coming years.