Award

Culture survey project

THE FINANCIAL REPORTING COUNCIL LIMITED

This public procurement record has 2 releases in its history.

Award

08 Jun 2023 at 12:11

Award Notice
Tender

21 Apr 2023 at 12:55

Tender Notice
Summary of the contracting process

The Financial Reporting Council Limited has awarded a contract for a culture survey project. The survey is part of an ongoing assessment of audit firms' cultures to manage the risk of inconsistent audit quality. The survey aims to assess elements promoting high-quality audit practices within audit firms. The contract has an estimated value of £60,000 GBP and will involve research and design conducted by the FRC. The survey will be administered by a capable supplier, with a tender period ending on 22nd May 2023 and a contract period starting from 5th June 2023 to 30th October 2023 in London under the main procurement category of services.

This culture survey project by the Financial Reporting Council Limited presents an opportunity for businesses in the research and survey services sector. Small and medium-sized enterprises (SMEs) and voluntary, community and social enterprise (VCSE) organisations are well-suited to compete for this tender. By registering interest, businesses can access the tender documents and timelines. The contract has a potential extension after the initial term, capped at £170,000 GBP (plus VAT). This opportunity could lead to recurring business as the survey is planned to occur every one or two years, potentially expanding to other audit firms in the future.

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Notice Information

Notice Title

Culture survey project

Notice Description

THIS IS A CONTRACT AWARD NOTICE The purpose of the Financial Reporting Council (FRC) is to serve the public interest by setting high standards of corporate governance, reporting and audit and by holding to account those responsible for delivering them. The FRC is developing a culture survey for audit firms as part of the ongoing assessment of audit firms' cultures and managing the risk that audit quality remains inconsistent. A healthy culture within the audit firm is vital to achieving consistent audit quality. As part of the ongoing supervision of audit firm culture, the FRC is undertaking this survey to assess elements of audit firm culture that promote high quality audit. The culture survey will provide the FRC with a comparable dataset and sufficient information to perform cross-firm benchmarking accurately and consistently. The research and design of the survey will be conducted by the FRC. This tender seeks a experienced / capable supplier to administer and manage the survey process and analyse the results. The FRC intends for the survey to occur every one or two years, with potential expansion to other audit firms, subject to the successful and positive outcome of the first-year pilot. Additional information: THIS IS A CONTRACT AWARD NOTICE. * The estimated value in this notice reflects an annual value (exc VAT). The FRC reserves the right to further extend after the Initial Term (capped at a total of no more than PS170,000 (plus VAT)).

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-0c48beb1-2cfe-4ac1-bc14-4d5a0f9cd41c
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/60c45b3a-c407-4553-af14-1179adf5b18d
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (below threshold)
Tender Suitability
SME, VCSE
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

73 - Research and development services and related consultancy services

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

CPV Codes

73110000 - Research services

79311000 - Survey services

Notice Value(s)

Tender Value
£60,000 Under £100K
Lots Value
Not specified
Awards Value
£53,151 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
8 Jun 20232 years ago
Submission Deadline
22 May 2023Expired
Future Notice Date
Not specified
Award Date
4 May 20232 years ago
Contract Period
4 Jun 2023 - 31 Oct 2023 1-6 months
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
THE FINANCIAL REPORTING COUNCIL LIMITED
Contact Name
Head of Procurement
Contact Email
procurement@frc.org.uk
Contact Phone
020 7492 2300

Buyer Location

Locality
LONDON
Postcode
EC2Y 5AS
Post Town
Central London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified
Local Authority
City of London
Electoral Ward
Bassishaw
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

IFF RESEARCH

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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