Award

Internal Audit Resource

PENSION PROTECTION FUND

This public procurement record has 2 releases in its history.

AwardUpdate

08 Nov 2024 at 14:38

Award

30 Sep 2022 at 10:58

Summary of the contracting process

The Pension Protection Fund has executed the optional 2-year extension for their "Internal Audit Resource" contract, updating the contract end date to 22nd September 2026 and increasing the contract value from £300,000 to £1,191,129. This contract, classified under the Internal Audit Services industry category (CPV code 79212200), involves the appointment of Ernst & Young LLP to support the Fund's Internal Audit function. The procurement process was selective, carried out through a call-off from a framework agreement, covering services to be delivered primarily in London, with the contract originally awarded on 9th September 2022 and initiated on 23rd September 2022.

This tender provides a significant opportunity for businesses specialising in internal audit services, especially those with capabilities to handle extended contractual periods and increased scope of work, as demonstrated by the substantial rise in contract value. SMEs are particularly encouraged, as the procurement method ensures that smaller entities can compete alongside larger firms. The extension highlights a stable long-term engagement, providing consistent business growth potential for suppliers who can meet the rigorous standards expected by prominent public bodies like the Pension Protection Fund.

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Notice Title

Internal Audit Resource

Notice Description

30.10.24 - Notice updates Contract executed it's optional 2-year extension Contract end date updated from 22.09.24 to 22.09.26 Contract Value updated from PS300,000 to PS1,191,129 Appointment of a supplier to assist with resourcing our Internal Audit function; to facilitate the completion of the audit plan and to provide SME. 2 year initial term with optional 2 year extension

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-8ad2ce9e-1893-46ee-911f-451e59b9d19a
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/38a1c238-8e7d-44fb-9b62-0ca125fa7df0
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
£1,191,129 £1M-£10M
Lots Value
Not specified
Awards Value
£1,191,129 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
8 Nov 20241 years ago
Submission Deadline
22 Aug 2022Expired
Future Notice Date
Not specified
Award Date
8 Sep 20223 years ago
Contract Period
22 Sep 2022 - 22 Sep 2026 4-5 years
Recurrence
Not specified

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
PENSION PROTECTION FUND
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
CROYDON
Postcode
CR0 2NA
Post Town
Croydon
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI6 Outer London - South
Small Region (ITL 3)
TLI62 Croydon
Delivery Location
TLI London

Local Authority
Croydon
Electoral Ward
Fairfield
Westminster Constituency
Croydon West

Supplier Information

Number of Suppliers
1
Supplier Name

ERNST & YOUNG

Further Information

Notice Documents

Notice URLs

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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