Award

External Audit Services

LONDON SCHOOL OF HYGIENE & TROPICAL MEDICINE

This public procurement record has 2 releases in its history.

Award

09 Oct 2024 at 12:49

Tender

19 Feb 2024 at 13:49

Summary of the contracting process

The London School of Hygiene & Tropical Medicine (LSHTM) has entered the award stage of its public procurement process for External Audit Services. The chosen supplier, BDO LLP, has been awarded a contract valued at £701,700, which was signed on 8 August 2024. LSHTM, located in Central London, requires audit services to comply with the Companies Act and professional standards, covering both the institution and its subsidiary companies. This contract will span four years, starting in May 2024, with a focus on auditing financial statements for statutory compliance and regulatory reporting to the Office for Students. The procurement method followed an open procedure, ensuring a transparent selection process, with submission prerequisites defined on the official portal.

This tender offers substantial growth opportunities for businesses specialising in financial auditing services, particularly those capable of handling complex requirements for higher education institutions. Companies with proven expertise in statutory compliance audits and a track record of working with public law bodies stand to benefit greatly. The awarded contract aligns with the industry's demand for high-quality audit services and presents a lucrative engagement for firms adept at delivering consistent, high-standard financial reports. As LSHTM and its subsidiaries require meticulous financial oversight, businesses positioned to provide comprehensive audit solutions are well-suited to vie for similar future opportunities.

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Notice Title

External Audit Services

Notice Description

We are looking to appoint a supplier to provide External Audit Services in accordance with the Companies Act and relevant professional standards. We are seeking to put in place a new contract for four years, commencing in May 2024. As a higher education institution, we are required to carry out external audit of our financial statements for statutory compliance purposes. In addition to this we are also required to provide audited annual financial statements to our regulator, the Office for Students. The scope of service includes audit of the school's financial statements and the subsidiary company financial statements, together known as 'the Group'.

Lot Information

Lot 1

We are looking to appoint a supplier to provide External Audit Services in accordance with the Companies Act and relevant professional standards. We are seeking to put in place a new contract for four years, commencing in May 2024. As a higher education institution, we are required to carry out external audit of our financial statements for statutory compliance purposes. In addition to this we are also required to provide audited annual financial statements to our regulator, the Office for Students. The scope of service includes audit of the school's financial statements and the subsidiary company financial statements, together known as 'the Group'. There are a total of four subsidiary companies, of which three require an audit. Three subsidiaries are wholly owned UK subsidiaries (Chariot Innovations Limited, LSHTM Developments Limited and Sustainable Climate Impact Fund Limited). The fourth subsidiary is a non-trading Ugandan entity which is consolidated but does not require separate financial statements.

Renewal: The Contract Term is 2 years with optional extension of 2 periods of 12 month each. (2+1+1)

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-043b22
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/032431-2024
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

66 - Financial and insurance services

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


CPV Codes

66000000 - Financial and insurance services

79212000 - Auditing services

79212100 - Financial auditing services

Notice Value(s)

Tender Value
£120,000 £100K-£500K
Lots Value
£120,000 £100K-£500K
Awards Value
Not specified
Contracts Value
£701,700 £500K-£1M

Notice Dates

Publication Date
9 Oct 20241 years ago
Submission Deadline
22 Mar 2024Expired
Future Notice Date
Not specified
Award Date
7 Aug 20241 years ago
Contract Period
Not specified - Not specified
Recurrence
May 2028

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
LONDON SCHOOL OF HYGIENE & TROPICAL MEDICINE
Contact Name
Imoudu Idornigie
Contact Email
imoudu.idornigie@lshtm.ac.uk
Contact Phone
+44 2079588328

Buyer Location

Locality
LONDON
Postcode
WC1E 7HT
Post Town
Central London
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI36 Camden
Delivery Location
Not specified

Local Authority
Camden
Electoral Ward
Bloomsbury
Westminster Constituency
Holborn and St Pancras

Supplier Information

Number of Suppliers
1
Supplier Name

BDO

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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