Award

Internal Audit Services

WATER SERVICES REGULATION AUTHORITY

This public procurement record has 2 releases in its history.

AwardUpdate

27 Jun 2018 at 13:26

Award Notice
Award

25 Jun 2018 at 13:05

Award Notice
Summary of the contracting process

The Water Services Regulation Authority (Ofwat) is currently engaged in a procurement process for Internal Audit Services, aimed at five regulatory bodies including the Office of Rail and Road (ORR) and the Equality and Human Rights Commission. This selective tendering process, which is part of a call-off from a framework agreement, marked its initiation on 12 February 2018 and is set to conclude by 31 May 2021. The tender period ended on 15 September 2017, and the services will primarily be delivered in the regions of West Midlands and London, with a total of approximately 70 audit days expected to be utilised each year.

This tender presents significant opportunities for businesses specialising in internal audit and financial advisory services. Companies that have experience with public sector contracts, particularly those that can provide independent assessments and recommendations, would find this tender well-suited to their capabilities. The procurement also invites SMEs to participate, potentially allowing smaller firms to compete alongside larger bidders like Mazars LLP, who are already in the supply landscape. The inclusion of ad-hoc services, such as governance advice and fraud investigations, further broadens the scope for business engagement.

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Notice Information

Notice Title

Internal Audit Services

Notice Description

On behalf of the 'Client Group' (Water Services Regulation Authority (Ofwat), Office of Rail and Road (ORR), Professional Standards Authority, Equality and Human Rights Commission and Office of Qualifications and Examinations Regulation (Ofqual)), ORR led the procurement of Internal Audit Services. The Contract is underpinned by Ofwat's Statement of Requirements dated 16 August 2017 and the Supplier's tender dated 15 September 2017. Services Required Internal Audit Services The Customer's statutory accounts are audited by the National Audit Office (NAO), who fulfils the role of external auditor. It is essential that the Internal Auditor (IA) liaises and works effectively with the NAO to ensure internal audits are completed to a high standard and meet the NAO's assurance requirements for the external audit. Objective The IA provider must provide an independent assurance service for management by measuring and evaluating the adequacy, reliability and effectiveness of management and financial control systems. The IA will be required to make recommendations based on the appraisal of each system reviewed and to provide an annual assurance report to the Accounting Officer (AO) and Audit and Risk Assurance Committee (ARAC). Scope and Key Tasks The Customer anticipates that circa 70 audit days will be used in each financial year. The Customer will agree actual days required at the commencement of each audit or request for audit advice. The IA Plan will be agreed each year either just before or after the beginning of the financial year and after taking advice from ARAC. The IA will detail the audits expected to be required during the financial year. In addition the following services are required: 1. Audit Advice - On-going throughout the Contract Provide advice on audit and control related matters to the AO, managers and system owners on request. 2. Ad-hoc Service Provision The Supplier may be required to carry out ad hoc work from time to time, such as: * value for money reviews; * governance advice; * fraud investigations; * special investigations; or * reviews of areas of high regulatory risk. The above list is not exhaustive. Such work should only be undertaken with the approval of the Finance Director and General Counsel.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-09011f5e-1baf-4a01-a581-03784d290cae
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/caf1237c-31a6-426a-9973-4d671f5653c9
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
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
27 Jun 20187 years ago
Submission Deadline
15 Sep 2017Expired
Future Notice Date
Not specified
Award Date
8 Feb 20188 years ago
Contract Period
12 Feb 2018 - 31 May 2021 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
WATER SERVICES REGULATION AUTHORITY
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
BIRMINGHAM
Postcode
B5 4UA
Post Town
Birmingham
Country
England
Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG3 West Midlands
Small Region (ITL 3)
TLG31 Birmingham
Delivery Location
TLG West Midlands (England), TLI London
Local Authority
Birmingham
Electoral Ward
Ladywood
Westminster Constituency
Birmingham Ladywood

Supplier Information

Number of Suppliers
1
Supplier Name

MAZARS

Further Information

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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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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