Tender

External Audit Services Royal Academy of Music

LONDON UNIVERSITIES PURCHASING CONSORTIUM

This public procurement record has 1 release in its history.

Tender

01 Mar 2022 at 16:01

Tender Notice
Summary of the contracting process

The London Universities Purchasing Consortium is seeking external audit services for the Royal Academy of Music, specifically targeting accounting, auditing, and fiscal services within the education sector in London, United Kingdom. This open tender process was published on 1st March 2022, with submissions due by 25th March 2022. The contract will span four years, commencing on 2nd May 2022 and concluding on 30th April 2026, with an estimated total value of £200,000.

This procurement presents a significant opportunity for businesses specialising in auditing and financial services, particularly small and medium-sized enterprises (SMEs) that can meet the requirements for auditing under UK GAAP and International Standards on Auditing. Companies experienced in handling educational institution audits, specifically those that can manage consortiums and charity accounts, would be well-positioned to compete and potentially secure a long-term relationship with a prominent organisation in the arts education sector.

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Notice Information

Notice Title

External Audit Services Royal Academy of Music

Notice Description

The Royal Academy of Music (the Academy) is tendering for services to: a) Audit the annual financial statements comprising: i) Main Academy (including the Legacy Pool and Awards) The Legacy Pool holds our endowments and legacies, invested in the market. The income from the Legacy Pool is transferred to Awards to fund bursaries and scholarships for students. In addition, donations received during the year are added to Awards. These accounts form part of the consolidated accounts of the Academy. ii) RAM Collections Trust (a Company limited by guarantee and a registered charity) which maintains, promotes, exhibits and provides the widest possible access to the musical archive of the late Yehudi Menuhin. iii) RAM Development Company (a subsidiary which is currently dormant). b) Audit of US loans scheme; (currently under $500k value) c) Audit of the annual teachers' pension scheme return, and d) Audit services for the Royal Academy of Music 1967 pension scheme accounts. Audits must be undertaken in accordance with UK GAAP, International Standards on Auditing ISAs (UK) and applicable law. Approx values on the boxes above are for a total of 4 years, NOT annual value.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-bb9e311c-5b6d-40e9-80b9-b372fa3b167b
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/9b42905a-e362-4113-be87-2fec655e4a11
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

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

CPV Codes

79200000 - Accounting, auditing and fiscal services

79210000 - Accounting and auditing services

79212100 - Financial auditing services

Notice Value(s)

Tender Value
£200,000 £100K-£500K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
1 Mar 20223 years ago
Submission Deadline
25 Mar 2022Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
1 May 2022 - 30 Apr 2026 3-4 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
LONDON UNIVERSITIES PURCHASING CONSORTIUM
Contact Name
Aitor Cisneros
Contact Email
a.cisneros@ensemblepurchasing.ac.uk
Contact Phone
+44 7470159757

Buyer Location

Locality
LONDON
Postcode
NW1 5HT
Post Town
North 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
TLI London
Local Authority
Westminster
Electoral Ward
Regent's Park
Westminster Constituency
Cities of London and Westminster

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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