Award

QUB/2232/22 Provision of External and Internal Audit Services

QUEEN'S UNIVERSITY BELFAST

This public procurement record has 2 releases in its history.

Award

07 Jun 2022 at 08:52

Tender

01 Mar 2022 at 17:09

Summary of the contracting process

The procurement process for the tender titled "QUB/2232/22 Provision of External and Internal Audit Services" was conducted by Queen's University Belfast, located in Belfast, UK. This tender falls under the services industry category, with a classification of auditing services (CPV: 79212000). The procurement method was an open procedure, and the tender has reached the award stage. The contracts were awarded on 7 June 2022, with a value of £1,200,000 for External Audit and Third-Party Audit Services, and £800,000 for Internal Audit Services. The initial contract period for both services is set for three years, with the possibility of extending for up to an additional 36 months.

This tender presents significant business growth opportunities, particularly for firms specialising in auditing services, including external and internal auditing. Companies with experience in conducting financial audits and providing assurance services will find themselves well-suited to compete for these contracts. Given that the tender required a blend of technical and pricing criteria for evaluation, businesses offering high-quality audit solutions at competitive rates should consider submitting proposals. The involvement of major firms such as KPMG and Deloitte indicates a competitive landscape, which could drive innovation and improve service offerings in the sector.

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Notice Title

QUB/2232/22 Provision of External and Internal Audit Services

Notice Description

The University invited tenders for the provision of:Lot 1: External Audit and Third-Party Audit ServicesLot 2: Internal Audit Services

Lot Information

External Audit and Third Party Audit Services

The role of the University's External Auditors is to report on the Group and University's financial statements and to carry out such examination of the statements and underlying records/control systems as is necessary to reach an opinion on the statements, maximising appropriate reliance on the Internal Audit findings. The External Auditors will also be required to undertake additional certification/audit duties, as a requirement of a number of external funding bodies, including the EU and INI.Economic Operators are also requested to provide pricing for the external audit for a number of the University's associated companies. However, it should be noted that the final decision to appoint External Auditors will rest with the Boards / Trustees of the individual organisations.

Options: The intial contract perios is for 3 years, with options to extend by up to a further 36 months

Renewal: The tender renewal may commence anytime between Year 3 and Year 6

Internal Audit

The role of Internal Audit is to provide an independent appraisal function, giving assurance that the University's systems of internal control (including those arrangements for achieving economy, efficiency and effectiveness) are adequate

Options: The initial contract period is for 3 years, with options to extend by up to a further 36 months

Renewal: The tender renewal may commence anytime between Year 3 and Year 6

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-031c8f
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/015579-2022
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

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

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
£1,800,000 £1M-£10M
Lots Value
£1,800,000 £1M-£10M
Awards Value
Not specified
Contracts Value
£2,000,000 £1M-£10M

Notice Dates

Publication Date
7 Jun 20223 years ago
Submission Deadline
1 Apr 2022Expired
Future Notice Date
Not specified
Award Date
6 Jun 20223 years ago
Contract Period
Not specified - Not specified
Recurrence
3 years to 6 years

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Contracting Authority (Buyer)

Main Buyer
QUEEN'S UNIVERSITY BELFAST
Contact Name
Jackie Glackin
Contact Email
j.glackin@qub.ac.uk
Contact Phone
Not specified

Buyer Location

Locality
BELFAST
Postcode
BT7 1NN
Post Town
Northern Ireland
Country
Northern Ireland

Major Region (ITL 1)
TLN Northern Ireland
Basic Region (ITL 2)
TLN0 Northern Ireland
Small Region (ITL 3)
TLN06 Belfast
Delivery Location
TLN06 Belfast

Local Authority
Belfast
Electoral Ward
Central
Westminster Constituency
Belfast South and Mid Down

Supplier Information

Number of Suppliers
2
Supplier Names

DELOITTE

KPMG

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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