Award

Audit and Assurance Services for the Income Contingent Repayment Student Loan Monetisation Programme

DEPARTMENT FOR EDUCATION

This public procurement record has 1 release in its history.

AwardUpdate

01 Aug 2019 at 15:05

Award Notice
Summary of the contracting process

The Department for Education has initiated a procurement process titled "Audit and Assurance Services for the Income Contingent Repayment Student Loan Monetisation Programme," classified under the Education and Training Services industry. This tender is currently in the Award stage, having published the award notice on 1st August 2019. The contract is set to run from 13th March 2018 to 23rd August 2021, following a selective procurement method involving a call-off from a framework agreement. The tender period for submissions ended on 12th December 2017, with services required across various locations including the United Kingdom and British Overseas Territories.

This procurement presents significant opportunities for businesses specialising in audit and assurance services, particularly those with expertise in financial modelling and data validation. Small and Medium Enterprises (SMEs) and Voluntary, Community, and Social Enterprises (VCSEs) are encouraged to explore this tender, as the nature of the work involves ongoing collaboration with the Department for Education to ensure compliance and accuracy in financial reporting. Businesses that can demonstrate experience in similar projects or have a proven track record in the education sector will be well-positioned to compete effectively for this contract.

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Notice Information

Notice Title

Audit and Assurance Services for the Income Contingent Repayment Student Loan Monetisation Programme

Notice Description

This will cover 3 related work streams critical to execution of the monetisation programme, starting with a second loan sale transaction: 1. Audit of the complex financial model used to forecast student loan cashflows, including: a. an ongoing annual audit. b. an additional audit each time a new sale transaction launch is planned. Current assumptions are that the monetisation programme will launch one transaction per year over the next 4-5 years. 2. Audit of the underlying loan pool data which the model relies upon each time a new transaction is planned. 3. Audit of the transaction prospectus: a tick and tie of numbers from the model and loan pool with relevant values in the transaction prospectus each time a new transaction is planned.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-925e2c3f-5761-45cf-a969-b747aa861026
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/1dbf5504-b22c-47bc-890c-12319e1fdcf3
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, VCSE
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

80 - Education and training services

CPV Codes

80000000 - Education and training services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
1 Aug 20196 years ago
Submission Deadline
12 Dec 2017Expired
Future Notice Date
Not specified
Award Date
1 Mar 20187 years ago
Contract Period
13 Mar 2018 - 23 Aug 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
DEPARTMENT FOR EDUCATION
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
SW1P 3BT
Post Town
South West 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
Westminster
Electoral Ward
St James's
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

HOGON LOVELLS INTERNATIONAL

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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