Tender

LPFA Internal Audit Services - Contracts Finder Notice

LONDON PENSIONS FUND AUTHORITY

This public procurement record has 1 release in its history.

Tender

17 Feb 2020 at 16:26

Tender Notice
Summary of the contracting process

The London Pensions Fund Authority (LPFA) is conducting a tender for Internal Audit Services, with the opportunity titled "LPFA Internal Audit Services - Contracts Finder Notice." This procurement falls under the services industry category, specifically focusing on internal audit services. The tender process is currently active and is being conducted through an open procurement method. The deadline for submission is 9th March 2020, and the contract is expected to commence on 1st April 2020, lasting until 31st March 2023. The estimated contract value ranges from £80,000 to £100,000 per annum, excluding VAT, with the delivery address located in London, United Kingdom.

This tender presents significant growth opportunities for businesses specialising in internal audit services, particularly those that can offer comprehensive solutions in compliance, governance, and risk management. Firms equipped to deliver high-quality audits and maintain strict internal controls will be well-suited to compete, and SMEs are particularly encouraged to participate. The partnerships required with external auditors and the potential for consultancy services also suggest avenues for collaboration, making this a valuable opportunity for firms aiming to expand their offerings and client base within the public sector.

Find more tenders on our Open Data Platform.
How relevant is this notice?

D3 Tenders Premium

Win More Public Sector Contracts

AI-powered tender discovery, pipeline management, and market intelligence — everything you need to grow your public sector business.

Start Free Trial Book a Demo
All Features Pricing

Notice Information

Notice Title

LPFA Internal Audit Services - Contracts Finder Notice

Notice Description

The London Pensions Fund Authority (LPFA) is required to have an internal audit function under the accounts and audit regulations. These regulations place responsibility on the authority for maintaining an adequate and effective internal audit service. The LPFA Audit and Risk Committee is responsible to the LPFA Board for ensuring that there is an adequate system of internal control, and that it is maintained and complied with on a routine basis. The lead officer responsible for maintaining the system of internal control is the Managing Director of LPFA, although the LPFA acknowledges that internal controls are a collective responsibility with the LPFA Audit & Risk Committee and the Section 151 Officer also has responsibility in this area. The LPFA will prepare an Annual Governance Statement to review the effectiveness of the system of internal control, and this is signed by the LPFA Managing Director and the Chair of the LPFA Audit & Risk Committee. This is supported by a statement from the Head of the Internal Audit function on the effectiveness of the system of internal control. The LPFA Audit & Risk Committee has the responsibility for reviewing the effectiveness of the internal audit function. The Committee will receive regular reports from the internal audit provider, and the senior internal auditor will attend the Audit & Risk Committee meetings. The Head of Internal Audit, to be provided by the supplier, will be required to work with other elements of the audit services. This includes the LPFA's external auditors (currently Grant Thornton) but may also require working with the internal and external audit service of Local Pensions Partnerships, (currently Deloitte internal and Grant Thornton external). LPFA may also make use of external consultants to support organisational development. The internal audit function may identify areas for external consultancy to advise on, and support implementation of, new systems following recommendations from external consultants. The estimated value of the contract is PS80,000 to PS100,000 (excluding VAT) per year. Further details about the services required are set out in the invitation to tender. ________________________________________

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-d6378701-07ef-4253-b44a-84ed22895465
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/6555eef6-ae91-4dfb-8684-67a0686c971c
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 (above threshold)
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

79212200 - Internal audit services

Notice Value(s)

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

Notice Dates

Publication Date
17 Feb 20206 years ago
Submission Deadline
9 Mar 2020Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
31 Mar 2020 - 31 Mar 2023 2-3 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 PENSIONS FUND AUTHORITY
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
SE1 0LL
Post Town
South East London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI44 Lewisham and Southwark
Delivery Location
TLI London
Local Authority
Southwark
Electoral Ward
Borough & Bankside
Westminster Constituency
Bermondsey and Old Southwark

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

Download

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. 

{
    "tag": [
        "compiled"
    ],
    "id": "ocds-b5fd17-d6378701-07ef-4253-b44a-84ed22895465-2020-02-17T16:26:45Z",
    "date": "2020-02-17T16:26:45Z",
    "ocid": "ocds-b5fd17-d6378701-07ef-4253-b44a-84ed22895465",
    "language": "en",
    "initiationType": "tender",
    "tender": {
        "id": "LPFA Internal Audit Services - Contracts Finder Notice",
        "title": "LPFA Internal Audit Services - Contracts Finder Notice",
        "description": "The London Pensions Fund Authority (LPFA) is required to have an internal audit function under the accounts and audit regulations. These regulations place responsibility on the authority for maintaining an adequate and effective internal audit service. The LPFA Audit and Risk Committee is responsible to the LPFA Board for ensuring that there is an adequate system of internal control, and that it is maintained and complied with on a routine basis. The lead officer responsible for maintaining the system of internal control is the Managing Director of LPFA, although the LPFA acknowledges that internal controls are a collective responsibility with the LPFA Audit & Risk Committee and the Section 151 Officer also has responsibility in this area. The LPFA will prepare an Annual Governance Statement to review the effectiveness of the system of internal control, and this is signed by the LPFA Managing Director and the Chair of the LPFA Audit & Risk Committee. This is supported by a statement from the Head of the Internal Audit function on the effectiveness of the system of internal control. The LPFA Audit & Risk Committee has the responsibility for reviewing the effectiveness of the internal audit function. The Committee will receive regular reports from the internal audit provider, and the senior internal auditor will attend the Audit & Risk Committee meetings. The Head of Internal Audit, to be provided by the supplier, will be required to work with other elements of the audit services. This includes the LPFA's external auditors (currently Grant Thornton) but may also require working with the internal and external audit service of Local Pensions Partnerships, (currently Deloitte internal and Grant Thornton external). LPFA may also make use of external consultants to support organisational development. The internal audit function may identify areas for external consultancy to advise on, and support implementation of, new systems following recommendations from external consultants. The estimated value of the contract is PS80,000 to PS100,000 (excluding VAT) per year. Further details about the services required are set out in the invitation to tender. ________________________________________",
        "datePublished": "2020-02-17T16:26:45Z",
        "status": "active",
        "classification": {
            "scheme": "CPV",
            "id": "79212200",
            "description": "Internal audit services"
        },
        "items": [
            {
                "id": "1",
                "deliveryAddresses": [
                    {
                        "region": "London",
                        "countryName": "United Kingdom"
                    }
                ]
            }
        ],
        "minValue": {
            "amount": 80000,
            "currency": "GBP"
        },
        "value": {
            "amount": 100000,
            "currency": "GBP"
        },
        "procurementMethod": "open",
        "procurementMethodDetails": "Open procedure (above threshold)",
        "tenderPeriod": {
            "endDate": "2020-03-09T23:59:59Z"
        },
        "contractPeriod": {
            "startDate": "2020-04-01T00:00:00+01:00",
            "endDate": "2023-03-31T23:59:59+01:00"
        },
        "suitability": {
            "sme": true,
            "vcse": false
        },
        "mainProcurementCategory": "services",
        "documents": [
            {
                "id": "1",
                "documentType": "tenderNotice",
                "description": "Opportunity notice on Contracts Finder",
                "url": "https://www.contractsfinder.service.gov.uk/Notice/6555eef6-ae91-4dfb-8684-67a0686c971c",
                "datePublished": "2020-02-17T16:26:45Z",
                "format": "text/html",
                "language": "en"
            },
            {
                "id": "2",
                "documentType": "tenderNotice",
                "description": "LPFA _Internal Audit Services Tender - 17.02.20",
                "url": "https://www.contractsfinder.service.gov.uk/Notice/Attachment/45f3cf31-977f-42b2-9e95-1b515627c698",
                "format": "application/pdf"
            },
            {
                "id": "3",
                "documentType": "biddingDocuments",
                "description": "Annex A_Statement of Accounts 2018_19",
                "url": "https://www.contractsfinder.service.gov.uk/Notice/Attachment/504fa5b4-d626-4bcc-844d-39fe315696a0",
                "format": "application/pdf"
            },
            {
                "id": "4",
                "documentType": "biddingDocuments",
                "description": "Annex B_Annual Reports and Accounts 2018_19",
                "url": "https://www.contractsfinder.service.gov.uk/Notice/Attachment/9b19de84-2819-42a7-b464-6ea3de342892",
                "format": "application/pdf"
            },
            {
                "id": "5",
                "documentType": "biddingDocuments",
                "description": "Annex C_Strategic Policy Statement_2019_22",
                "url": "https://www.contractsfinder.service.gov.uk/Notice/Attachment/a6e7e500-6f85-4e1f-a832-70f9c0da25d4",
                "format": "application/pdf"
            },
            {
                "id": "6",
                "documentType": "biddingDocuments",
                "description": "Annex D_Medium Term Financial Plan",
                "url": "https://www.contractsfinder.service.gov.uk/Notice/Attachment/dd95530a-210f-4909-8bb3-1bb69c3362c1",
                "format": "application/pdf"
            },
            {
                "id": "7",
                "documentType": "biddingDocuments",
                "description": "Appendix 4_Company Mandatory Policies",
                "url": "https://www.contractsfinder.service.gov.uk/Notice/Attachment/a0238789-8d8a-43cc-a496-d119fc24e1b9",
                "format": "application/pdf"
            },
            {
                "id": "8",
                "documentType": "biddingDocuments",
                "description": "LPFA Internal Audit Plan (Year 2 and 3)",
                "url": "https://www.contractsfinder.service.gov.uk/Notice/Attachment/3d35684a-16e6-493f-bd12-ec6d6b98d58c",
                "format": "application/pdf"
            }
        ]
    },
    "parties": [
        {
            "id": "GB-SRS-sid4gov.cabinetoffice.gov.uk/RHZ36yFa",
            "name": "London Pensions Fund Authority",
            "identifier": {
                "legalName": "London Pensions Fund Authority",
                "scheme": "GB-SRS",
                "id": "sid4gov.cabinetoffice.gov.uk/RHZ36yFa"
            },
            "address": {
                "streetAddress": "169 Union Street",
                "locality": "LONDON",
                "postalCode": "SE10LL",
                "countryName": "England"
            },
            "contactPoint": {
                "name": "Morenike Ajayi",
                "email": "morenike.ajayi@lpfa.org.uk"
            },
            "details": {
                "url": "http://www.lpfa.org.uk/"
            },
            "roles": [
                "buyer"
            ]
        }
    ],
    "buyer": {
        "id": "GB-SRS-sid4gov.cabinetoffice.gov.uk/RHZ36yFa",
        "name": "London Pensions Fund Authority"
    }
}