The Cayman Islands Film Commission is looking for accounting firms to help oversee its planned film rebate programme.
A Request for Interest issued on 3 July invites firms to apply for inclusion on a list of approved auditors that will be made available to production applicants seeking rebates under the initiative.
The list is expected to be published in September.
The rebate programme is aimed at attracting international film, television and digital media productions to the Cayman Islands.
Accounting firms selected through the process will be responsible for independently auditing production expenditure reports submitted by applicants.
The audits will be used to verify compliance with the programme’s rebate requirements.
Under the programme, productions will be grouped into three budget categories.
Small-budget productions are valued between CI$250,000 and $749,999, medium-budget productions between $750,000 and $1.49 million, and large-budget productions at $1.5m or more.
Auditors will be required to verify spending claims and confirm that productions meet programme requirements.
That includes checking local expenditure thresholds and employment requirements, as well as reviewing supporting documentation such as proof of residency where applicable.
The commission said approved auditors will also be expected to provide reports to both applicants and the commission, and work with commission staff to uphold the financial integrity of the programme.
To qualify, firms must be licensed and practising in Cayman. Applicants must also demonstrate an understanding of the Film Commission’s rebate guidelines.
The request requires firms to submit a cover letter outlining their interest and qualifications, identify which budget categories they wish to service, provide a business licence and include details of relevant experience and lead auditors.
Applicants must also provide a schedule of audit fees or fee structures for the budget categories they intend to cover.
Submissions will be assessed against mandatory eligibility requirements set out in the request document.
Firms that meet those requirements and are legally authorised to perform the work will be placed on the approved auditor list.
Production applicants will then be able to engage approved firms directly when audits are required.
The deadline for submitting questions is 10 July. Responses must be submitted through the government’s Bonfire procurement portal by 31 July.
The Department of Tourism said the timetable remains tentative and may be amended.
