Award

Interim Support with Analysis on Financial Risks

WATER SERVICES REGULATION AUTHORITY

This public procurement record has 2 releases in its history.

AwardUpdate

24 May 2018 at 08:12

Award Notice
Award

12 Apr 2018 at 10:26

Award Notice
Summary of the contracting process

The procurement process, initiated by the Water Services Regulation Authority (Ofwat), is for the tender titled "Interim Support with Analysis on Financial Risks," which falls under the category of business and management consultancy services. This opportunity is primarily based in the West Midlands and London, UK, and is currently in the award stage, with the contract period running from 30th November 2017 to 28th February 2018. The procurement method employed is selective, specifically a call-off from a framework agreement, and the tender period ended on 7th November 2017.

This contract provides a valuable opportunity for businesses specialising in regulatory accounting, financial analysis, and corporate finance to contribute their expertise in assessing and mitigating financial risks within the water sector. Smaller enterprises that offer consultancy services in finance and audit are particularly well-suited to compete for this contract. Engaging with this tender could allow firms to broaden their portfolio, enhance their industry presence, and foster relationships with key stakeholders in the regulatory community.

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Notice Information

Notice Title

Interim Support with Analysis on Financial Risks

Notice Description

Ofwat has a temporary opportunity for one or two experienced regulatory accountants, financial analysts, audit and assurance or corporate finance specialists to assist us with scutinising company financial information to identify key financial risks, fully research and assess the scale of the issues and propose next steps. Due to the proactive nature of the finance and governance programme and the changing environment the sector is operating in, it is not possible to provide a full description of the key responsibilities required. But to provide context we have included details of some possible work packages required. * Financial flows - work to identify and understand financial flows between the regulated company and it's owners/investors. Initially based on statutory accounts, this could also require correspondence or queries with companies, as well as face to face meetings. * Non-appointed income - work to identify and compare companies' reporting of non-appointed income to identify outliers and review against our regulatory reporting guidance. * Leases - work to consider the potential impact of future changes to reporting of leases (IFRS16). Looking to identify the impact on companies. Potential outputs The successful candidates will take responsibility for delivery of specified work packages relating to financial risks. This will involve detailed analysis and review of companies' financial information from a variety of sources. Gathering further information through correspondence and meeting with companies. * Prepare analysis of findings for programme board papers with recommendations and next steps. * Where future information capture is considered appropriate, working with colleagues to draft data requirements for inclusion into our Regulatory Accounting Guidelines (RAGs). The successful candidates will be required to work collaboratively with the internal Ofwat programme team and other colleagues across the organisation. This will include discussing the results, highlighting issues and suggesting potential areas for further work.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-2a2da394-4e9b-48ea-b9d5-679a936b0d46
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/ea39a6f0-e5cc-43f1-89d6-e7daa63e6d57
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

79410000 - Business and management consultancy services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£144,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
24 May 20187 years ago
Submission Deadline
7 Nov 2017Expired
Future Notice Date
Not specified
Award Date
28 Nov 20178 years ago
Contract Period
30 Nov 2017 - 28 Feb 2018 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
WATER SERVICES REGULATION AUTHORITY
Contact Name
Not specified
Contact Email
mailbox@ofwat.gsi.gov.uk
Contact Phone
Not specified

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

DELOITTE

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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