Award

Controls Audit for Income Contingent Repayment Loans

DEPARTMENT FOR EDUCATION

This public procurement record has 1 release in its history.

Award

13 Nov 2024 at 17:35

Award Notice
Summary of the contracting process

The Department for Education has awarded a contract to RSM UK Risk Assurance Services LLP for conducting a Controls Audit for Income Contingent Repayment Loans, following the 2008 Sale of Student Loans Act. This contract falls under the category of internal audit services (CPV 79212200) and the broader category of statutory audit services (CPV 79212300). The agreement, which was awarded on 16th October 2024, covers the period from 1st December 2024 to 30th November 2027, with an optional extension for another year. The procurement method was selective, sourced via a call-off from the Crown Commercial Service's Audit & Assurance Services (A&AS) framework (RM6188), Lot 4: Other Independent Assurance. The total contract value is £450,000, and audits will be conducted in various locations including British Overseas Territories, Channel Islands, Europe, Isle of Man, the United Kingdom, and other parts of the world.

This tender presents significant opportunities for businesses specialising in audit and assurance services, particularly those with expertise in internal and statutory audit processes. Small and medium-sized enterprises (SMEs) with relevant experience are well-suited to compete in this space, offering a chance to partner with the Department for Education and extend their service offerings. The scope of the contract, covering multiple geographies and a substantial financial commitment, provides a valuable platform for growth and enhanced market presence for the awarded supplier.

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Notice Information

Notice Title

Controls Audit for Income Contingent Repayment Loans

Notice Description

Following the 2008 Sale of Student Loans Act, the Secretary of State for Education assumed the responsibilities of Master Servicer for the sold loans agreements, and is therefore responsible for sourcing a range of audits to ensure compliance. This is the Department's contract award notice for the re-procurement of a ISAE 3402 Controls Audit, for the Income Contingent Repayment Loans. This agreement will last from 1st December 2024 until 30th November 2027, with the option for the Department to pursue an extension for an additional year, if deemed appropriate. This contract was competed via the Crown Commercial Service's Audit & Assurance Services (A&AS) framework (RM6188), Lot 4: Other Independent Assurance.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-9a2c1f7f-7d57-4a1c-9c17-72295e513d7b
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/320cf83b-6d41-4ea4-ba58-114456bb12b0
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

79212300 - Statutory audit services

Notice Value(s)

Tender Value
£450,000 £100K-£500K
Lots Value
Not specified
Awards Value
£450,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
13 Nov 20241 years ago
Submission Deadline
28 Jun 2024Expired
Future Notice Date
Not specified
Award Date
15 Oct 20241 years ago
Contract Period
1 Dec 2024 - 30 Nov 2027 2-3 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
COVENTRY
Postcode
CV1 2WT
Post Town
Coventry
Country
England
Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG3 West Midlands
Small Region (ITL 3)
TLG33 Coventry
Delivery Location
Not specified
Local Authority
Coventry
Electoral Ward
St Michael's
Westminster Constituency
Coventry South

Supplier Information

Number of Suppliers
1
Supplier Name

RSM UK RISK ASSURANCE SERVICES

Further Information

Notice Documents

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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