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Provision of Audit Services

Wales & West Utilities Limited

This public procurement record has 2 releases in its history.

TenderUpdate

23 Aug 2021 at 16:45

Tender Notice
Tender

29 Jul 2021 at 14:33

Tender Notice
Summary of the contracting process

The Wales & West Utilities Ltd is issuing a tender for "Provision of Audit Services," primarily focused on financial and internal auditing aspects within the services sector. Located in Newport, United Kingdom, this procurement process is currently in the expression of interest stage, which invites suppliers to demonstrate their qualifications for participation. The tender period will close on 24th August 2021, and it involves the evaluation of submissions via a selective procurement method. Interested parties must register on the Bravo e-sourcing portal by the deadline to access the associated tender documents and respond to the Pass/Fail criteria regarding their experience.

This tender represents a valuable opportunity for audit firms specialising in financial audit, taxation compliance, and internal audit services to expand their client portfolios. Businesses with expertise in statutory audit processes and those registered for the e-sourcing procurement portal are best positioned to compete. With a contract duration of three years and potential extensions of two additional years, successful participants can anticipate a steady stream of projects, enhancing their market presence and operational capacity.

How relevant is this notice?

Notice Information

Notice Title

Provision of Audit Services

Notice Description

The Board of WWGN Holdings (UK) Limited has decided to invite a number of audit firms to propose for: financial audit, taxation compliance and other related services; and internal audit services. WWU are looking to award a 3 year contract with the option to extend for up to 2 years (1+1). WWU would like to invite expressions of interest based on the Lots specified and for interested suppliers to answer a Pass/Fail question based on experience. Please note no further qualification or tender information will be published until the expression of interest period has closed.

Lot Information

LOT ONE - External Audit

The WWU group of companies are required to prepare and file statutory Audited Financial Statements annually as at 31 March. In addition, WWU is required to prepare Consolidated Regulatory Accounts for the Regulator, Ofgem together with a number of other returns which are subject to 'Agreed Upon Procedures' performed by the statutory auditors. Several of the companies are also required to prepare Interim Financial Statements. This is a requirement of the Investors in the group. WWU Finance plc has listed bonds in issue on the London Stock Exchange. Further issues are expected and as such experience in Capital Markets Transactions is required.

Renewal: Further information will be provided in the tender documentation

LOT TWO - Internal Audit

Whilst WWU has an insourced internal audit function, outsourced internal audit services are also required for reasons such as requiring a specific expertise or supporting with resource capacity. It is anticipated that a minimum of five audits will be outsourced per annum, one of which for example is in respect of Special Standard Condition D10 - Connections Procedures - of WWU's Gas Transporters License. In addition to the five audits, other assurance work (e.g. support with data analytics activity on in-house audits) may be required on an ad-hoc basis.

Renewal: Further information will be provided in the tender documentation

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-02ce1c
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/020708-2021
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Negotiated procedure with prior call for competition
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

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

CPV Codes

79212000 - Auditing services

79212100 - Financial auditing services

79212200 - Internal audit services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
23 Aug 20215 years ago
Submission Deadline
24 Aug 2021Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
5 years

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Wales & West Utilities Limited
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
NEWPORT
Postcode
NP10 8FZ
Postcode Area
Newport
Country
Wales
Major Region (ITL 1)
TLL Wales
Basic Region (ITL 2)
TLL5 South East Wales
Small Region (ITL 3)
TLL54 Monmouthshire and Newport
Delivery Location
Not specified
Local Authority
Newport
Electoral Ward
Tredegar Park and Marshfield
Westminster Constituency
Newport West and Islwyn

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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