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Provision of Internal Audit Services to the Finance Wales Group

Finance Wales plc

This public procurement record has 1 release in its history.

Award

13 Aug 2024 at 13:52

Award Notice
Summary of the contracting process

Finance Wales plc, located in Cardiff, is looking to procure an organisation to provide internal audit services for the Finance Wales Group. The procurement process has reached the Award stage, as of 13 August 2024, but the current status is cancelled. This tender was an open procedure under the CPV code 79212200 for internal audit services, intended to run for a period of five years with an option to terminate after three years. The services were to evaluate the effectiveness of controls established by the management team regarding risk management, control, and governance within the organisation. The contract covered the UK region and was part of the Government Procurement Agreement (GPA).

This tender offers significant opportunities for businesses specialising in internal audit services. Companies with expertise in risk management, control, and governance could see growth in securing long-term contracts with public sector organisations like Finance Wales. Businesses experienced with electronic tendering platforms, such as eTenderwales, would be well-suited to compete. Although this particular tender has been cancelled, companies that prepare and align their services with such requirements could gain an advantage in future opportunities, positioning themselves favourably for other similar procurements.

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Notice Information

Notice Title

Provision of Internal Audit Services to the Finance Wales Group

Notice Description

Finance Wales (FW) is looking to procure a suitable organisation to carry out internal audit services for the Finance Wales Group. Further information regarding the services can be obtained from the Invitation to Tender. The tender will be undertaken through an electronic tendering profile at www.etenderwales.bravosolution.co.uk. Full instructions on accessing the eTender are found in section V1.3 of this notice.

Lot Information

Lot 1

FW is seeking to appoint an organisation to provide internal audit services to evaluate the effectiveness of the controls established by FW's management team and its approach to risk management, control and governance comprised within the policies, procedures and operations of the Finance Wales Group. The services required are described in the Invitation to Tender. FW has concluded that it is not appropriate to divide the internal audit services into lots because of the importance of ensuring consistency of service provision across all of the internal audit services required. Additional information: The contract will run for a period of 5 years but FW will have the option to terminate the contract after 3 years.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-048a6b
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/025631-2024
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
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

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
13 Aug 20242 years ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
13 Aug 20242 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Cancelled
Lots Status
Cancelled
Awards Status
Unsuccessful
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Finance Wales plc
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
CARDIFF
Postcode
CF10 4BZ
Postcode Area
Cardiff
Country
Wales
Major Region (ITL 1)
TLL Wales
Basic Region (ITL 2)
TLL5 South East Wales
Small Region (ITL 3)
TLL52 Cardiff and Vale of Glamorgan
Delivery Location
TLL Wales
Local Authority
Cardiff
Electoral Ward
Butetown
Westminster Constituency
Cardiff South and Penarth

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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