Award

Culture in companies Research Project

THE FINANCIAL REPORTING COUNCIL LIMITED

This public procurement record has 2 releases in its history.

Award

28 May 2021 at 12:20

Award Notice
Tender

12 Apr 2021 at 13:42

Tender Notice
Summary of the contracting process

The Financial Reporting Council Limited issued a contract award notice for the "Culture in Companies Research Project," which falls under the research and development services and related consultancy services category. This procurement process, which utilised an open procedure (below threshold), concluded with the award made on 19th May 2021. The contract is set to commence on 21st May 2021 and will run until 30th September 2021. The procurement process was conducted in London, with a total contract value of £35,000, whilst the tender period for submissions ended on 4th May 2021.

This project presents a significant opportunity for small and medium-sized enterprises (SMEs) and voluntary, community, and social enterprises (VCSEs) to engage in groundbreaking research that influences corporate governance and culture. Businesses with expertise in corporate culture assessment, organisational consultancy, and stakeholder engagement would be particularly well-placed to compete. The insights from this project could not only enhance their service offerings but also position them as thought leaders in a critical area for modern business success.

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Notice Information

Notice Title

Culture in companies Research Project

Notice Description

**THIS IS A CONTRACT AWARD NOTICE - THIS TENDER IS CLOSED** The Financial Reporting Council sets the UK Corporate Governance and UK Stewardship Codes; sets UK standards for accounting and actuarial work; monitors and takes action to promote the quality of corporate reporting; and operates independent enforcement arrangements for accountants and actuaries. As the competent authority for audit in the UK the FRC sets auditing and ethical standards and monitors and enforces audit quality. The FRC works in the public interest. Our work is aimed at investors and others who rely on company reports, audit and high-quality risk management. The Background of this Project: In 2016 the FRC published a report titled Corporate Culture and the Role of Boards (hereafter the '2016 Report') which sought to address how boards can influence and shape their company's culture, build trust with various stakeholders and deliver sustainable success through culture assessment, measuring and monitoring. In 2018 the FRC published the new UK Corporate Governance Code which places a greater emphasis on culture, encouraging companies to develop cultures that promote integrity and openness, that value diversity and are responsive to the views of stakeholders. The Purpose and Scope of this Project was: Research conducted by the FRC for its 2020 Annual Review of Corporate Governance indicated that only about a half of companies provided meaningful commentary on their culture in their most recent annual reports, while many companies made no mention at all of monitoring or assessing their culture. In light of these findings, the purpose of this research project was to answer three questions: 1. What externally sourced information, guidance and tools/concepts are boards using to frame and support their companies' internal discussions on culture? 2. How have companies' internal practical approaches to measuring corporate culture, embedding (implementing) culture change, and reviewing the impact of that change evolved in the five years since the FRC's 2016 report? 3. What obstacles do companies encounter in promoting the desired corporate culture and how have they been (or how can they be) addressed? ** This is a contract award notice ** Additional information: ** THIS OPPORTUNITY IS CLOSED. THIS IS A CONTRACT AWARD NOTICE**

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-acf984d4-d3d6-4fc8-8fab-14b5e3a1fa5f
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/1fd220cf-83bb-4791-893f-34c806a0a526
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 (below threshold)
Tender Suitability
SME, VCSE
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

73 - Research and development services and related consultancy services

CPV Codes

73000000 - Research and development services and related consultancy services

Notice Value(s)

Tender Value
£35,000 Under £100K
Lots Value
Not specified
Awards Value
£35,000 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
28 May 20214 years ago
Submission Deadline
4 May 2021Expired
Future Notice Date
Not specified
Award Date
18 May 20214 years ago
Contract Period
20 May 2021 - 30 Sep 2021 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
THE FINANCIAL REPORTING COUNCIL LIMITED
Contact Name
Head of Procurement
Contact Email
procurement@frc.org.uk
Contact Phone
020 7492 2300

Buyer Location

Locality
LONDON
Postcode
EC2Y 5AS
Post Town
Central 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
City of London
Electoral Ward
Bassishaw
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

DRAGONFISH CONSULTING

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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