Award

CORP - External Auditor for Lancashire and London Pensions Partnership

LANCASHIRE COUNTY COUNCIL

This public procurement record has 3 releases in its history.

AwardUpdate

09 Mar 2017 at 09:13

Award Notice
Award

09 Mar 2017 at 08:33

Award Notice
Tender

18 Nov 2016 at 20:16

Tender Notice
Summary of the contracting process

The procurement process, initiated by Lancashire County Council on behalf of the Lancashire and London Pensions Partnership, is focused on the requirement for an External Auditor. The title of the tender is "CORP - External Auditor for Lancashire and London Pensions Partnership," which is classified under accounting, auditing and fiscal services. The contract is located in the North West region of the United Kingdom and the tender period has ended on 25th August 2015. The total contract value is £150,000, and the contract is set to span from 1st April 2016 to 30th September 2019. The procurement method was an open procedure, which encourages competition among suppliers.

This tender presents an excellent opportunity for SMEs and voluntary, community, and social enterprises (VCSEs) that specialise in auditing and financial services to expand their portfolio. Companies with experience in public sector accounting and auditing, especially within pension fund management, would be particularly well-suited to compete for this contract. The establishment of the Lancashire and London Pensions Partnership aims to manage substantial assets, providing a platform for auditors to engage in a larger scale of operations and potentially secure future contracts as the partnership grows.

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Notice Information

Notice Title

CORP - External Auditor for Lancashire and London Pensions Partnership

Notice Description

Lancashire and London Pension Partnership (LLPP). The Lancashire County Pension Fund (LCPF) and the London Pensions Fund Authority (LPFA) have agreed to create an Asset and Liability Management Partnership (ALM) which will involve creating a pool of investment assets in excess of PS10bn together with an "end to end" Pension Services Organisation which will provide services related to the management of the two funds through a company structure part of which will be regulated by the Financial Conduct Authority (FCA). There is an ambition to grow the Assets under Management to PS40bn and to grow the number of scheme members looked after by the administration business beyond the c 0.5m served by the two current organisations following the securing of the continuation of existing third party business. Following approval through the appropriate governance structures the two funds are now proceeding to create the LLPP's formal structures, including the appointment of independent Non-Executive Directors and an Independent Chair, and submit applications for regulatory approval to the FCA. The process is being driven to an ambitious timetable in order to maintain momentum with the aim of the LLPP formally launching on 1 April 2016. Lancashire County Council (as administering authority of LCPF) and LPFA require an External Auditor to provide the external audit of the financial statements for the LLPP and its associated entities, each having a financial year ending on 31 March (2016/2017, 2017/2018, 2018/2019). Additional information: Please note this procurement is being undertaken by Lancashire County Council on behalf of the Lancashire and London Pensions Partnership. Please see tender documents for further information about the Lancashire and London Pensions Partnership.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-a4a39d97-adc8-11e6-9901-0019b9f3037b
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/c4a72d33-983d-4b8f-99fb-c897a2370f4c
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
Tender Suitability
SME, VCSE
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

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

CPV Codes

79200000 - Accounting, auditing and fiscal services

Notice Value(s)

Tender Value
£150,000 £100K-£500K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
9 Mar 20178 years ago
Submission Deadline
25 Aug 2015Expired
Future Notice Date
Not specified
Award Date
24 Aug 201510 years ago
Contract Period
31 Mar 2016 - 30 Sep 2019 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
LANCASHIRE COUNTY COUNCIL
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
PRESTON
Postcode
PR1 8XJ
Post Town
Preston
Country
England
Major Region (ITL 1)
TLD North West (England)
Basic Region (ITL 2)
TLD4 Lancashire
Small Region (ITL 3)
TLD45 Mid Lancashire
Delivery Location
TLD North West (England)
Local Authority
Preston
Electoral Ward
City Centre
Westminster Constituency
Preston

Supplier Information

Number of Suppliers
1
Supplier Name

CONTRACT NOT AWARDED BY LCC - TRANSFERRED TO LPP

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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