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Co-Sourcing Internal Audit Partner - Award Notice

Financial Ombudsman Service

This public procurement record has 1 release in its history.

Award

20 Oct 2026 at 08:55

Award Notice
Summary of the contracting process

The Financial Ombudsman Service has procured internal audit co-sourcing services to support delivery of its internal audit plan. The work provides specialist assurance expertise or additional capacity when required, complementing the organisation’s internal audit capability. Services are delivered in London. This is a demand-led requirement rather than a single defined audit assignment, so suppliers need to be able to provide assurance support as needs arise under the call-off arrangement.

The procurement is complete and the contract was awarded to KPMG LLP on 6 August 2026. It was a selective call-off from the Crown Commercial Service Audit and Assurance Services Two framework, Lot 1. The awarded value is £2.5 million. The contract runs from 12 October 2026 to 11 October 2029, with options for two further one-year extensions, giving a maximum aggregate term of five years. The competition deadline was 16 April 2026. The published information does not set out the evaluation criteria or how bids were scored. The requirement was identified as suitable for small and medium-sized enterprises.

For suppliers considering a future requirement from the Financial Ombudsman Service, this award demonstrates demand for flexible internal audit support that can augment an established audit plan with specialist assurance expertise and extra delivery capacity when needed. Credible competitors would need a broad enough pool of skilled internal audit professionals to respond to changing demand, alongside the ability to provide reliable assurance work within a co-sourcing model. Experience supporting internal audit functions and delivering specialist assurance assignments would be relevant. The framework call-off route is also commercially significant: suppliers would need access to the applicable framework and the capability to compete through its process. The buyer considered the requirement suitable for smaller businesses, indicating that scale alone need not rule out a capable supplier.

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Notice Information

Notice Title

Co-Sourcing Internal Audit Partner - Award Notice

Notice Description

The Financial Ombudsman Service has awarded a demand-led call-off contract under the CCS Framework RM6310, Audit and Assurance Services Two, Lot 1, for the provision of internal audit co-sourcing services. The contract is for an initial term of 3 years, with the option to extend by up to two further periods of 1 year each (total 5 years aggregate). The contract will support delivery of the internal audit plan by providing access to specialist assurance capability where additional expertise or capacity is required.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-06ba5fe3-6fae-4809-beb1-756cdd55856a
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/b93f0081-5052-4829-918b-9ed4bb8283b7
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

79212200 - Internal audit services

Notice Value(s)

Tender Value
£2,500,000 £1M-£10M
Lots Value
Not specified
Awards Value
£2,500,000 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
20 Oct 20261 weeks ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
6 Aug 20262 months ago
Contract Period
12 Oct 2026 - 11 Oct 2029 3-4 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Financial Ombudsman Service
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
E14 9SR
Postcode Area
East London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI42 Tower Hamlets
Delivery Location
TLI London
Local Authority
Tower Hamlets
Electoral Ward
Canary Wharf
Westminster Constituency
Poplar and Limehouse

Supplier Information

Number of Suppliers
1
Supplier Name

KPMG LLP

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.

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