[This Document is a Sample Only. The language used is for representational purposes only, and it does not in any way prescribe or impose the evaluation process and how it must be documented on your organization. It is just a suggestion.]

The Technical Evaluation Committee (TEC) consisting of the above listed persons reviewed proposals from XXX audit firms competing for the engagement to audit [insert title of audit].

The TEC evaluated the proposals based on the following criteria:

1. Past Performance (allocated weight or score)
2. Past Experience (allocated weight or score)
3. Experience and credentials of the firm’s proposed audit team to participate in the audit (allocated weight or score)
4. Audit timeline and completion schedule
5. Cost (allocated weight or score)