Award

External Audit Services 2024

UNIVERSITY OF CHESTER

This public procurement record has 3 releases in its history.

Award

03 Jan 2025 at 10:59

Tender

03 Oct 2024 at 13:14

Planning

12 Jul 2024 at 14:17

Summary of the contracting process

The University of Chester has undertaken a procurement process to secure External Audit Services for a five-year period, with an option to extend for up to two additional 12-month periods, subject to satisfactory performance and the University's ongoing needs. The procurement, conducted under the UK Open Procedure in line with the Public Contracts Regulations 2015 and The Public Procurement (Amendment etc.) (EU Exit) Regulations 2020, has concluded with the award of the contract to Grant Thornton UK LLP. The contract value is estimated at £900,000, and the services will primarily involve auditing the University's financial statements and reporting to the University Council. Significant dates include the contract signature on 13th December 2024 and the initial tender publication on 3rd October 2024. The contract will cover auditing services within the North West region (UKD), with the successful supplier required to start their work as outlined.

This tender provides significant growth opportunities for businesses specialising in auditing services, particularly those experienced with higher education institutions’ financial processes. Firms that can offer comprehensive, high-quality audit services, maintain professional and ethical standards, and have a track record of working with public sector organisations would be well-suited to compete. Additionally, companies must demonstrate their capability in delivering periodic financial reviews, compliance with funding organisations, and effective stakeholder communication. The competitive nature of the process, with nine bids received including one from an SME, underscores the high demand and the potential for establishing long-term relationships within the higher education sector.

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Notice Title

External Audit Services 2024

Notice Description

This Award Notice follows the University seeking tenders through the UK Open Procedure under the Public Contracts Regulations 2015 and The Public Procurement (Amendment etc.) (EU Exit) Regulations 2020 to appoint an external audit service provider for a period of 5 years with an option to extend for up to two further periods of 12 months each, subject to satisfactory performance and the University's needs.The primary role of external auditors will be to report on the financial statements of the University of Chester and its subsidiary companies, and to carry out whatever examination of the statements and underlying records and control systems is necessary to reach an opinion on the statements. The successful supplier will be required to report to the University Council by means of a management letter.Please note that all values in this notice have been rounded up.

Lot Information

Lot 1

This Award Notice follows the University seeking tenders through the UK Open Procedure under the Public Contracts Regulations 2015 and The Public Procurement (Amendment etc.) (EU Exit) Regulations 2020 to appoint an external audit service provider for a period of 5 years with an option to extend for up to two further periods of 12 months each, subject to satisfactory performance and the University's needs.The primary role of external auditors will be to report on the financial statements of the University of Chester and its subsidiary companies, and to carry out whatever examination of the statements and underlying records and control systems is necessary to reach an opinion on the statements. The successful supplier will be required to report to the University Council by means of a management letter.Further details were available in the tender documents. This tender was not divided into Lots.Please note the estimated values in this Award Notice have been rounded up and include the optional extension periods.

Renewal: Period of Contract: 5 years with an option for the University to extend for up to two further periods of 12 months each, subject to satisfactory performance and the University's needs.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-047d18
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/000073-2025
Current Stage
Award
All Stages
Planning, Tender, Award

Procurement Classification

Notice Type
Planning 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

Notice Value(s)

Tender Value
£800,000 £500K-£1M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£900,000 £500K-£1M

Notice Dates

Publication Date
3 Jan 20251 years ago
Submission Deadline
4 Nov 2024Expired
Future Notice Date
30 Sep 2024Expired
Award Date
13 Dec 20241 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
UNIVERSITY OF CHESTER
Contact Name
Procurement Services
Contact Email
procurement@chester.ac.uk
Contact Phone
Not specified

Buyer Location

Locality
CHESTER
Postcode
CH1 4BJ
Post Town
Chester
Country
England

Major Region (ITL 1)
TLD North West (England)
Basic Region (ITL 2)
TLD6 Cheshire
Small Region (ITL 3)
TLD63 Cheshire West and Chester
Delivery Location
TLD North West (England)

Local Authority
Cheshire West and Chester
Electoral Ward
Chester City & the Garden Quarter
Westminster Constituency
Chester North and Neston

Supplier Information

Number of Suppliers
1
Supplier Name

GRANT THORNTON

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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