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Tender for Audit Services: National Energy System Operator

NATIONAL ENERGY SYSTEM OPERATOR LIMITED

This public procurement record has 2 releases in its history.

TenderUpdate

20 Nov 2024 at 09:40

Tender Notice
Planning

11 Nov 2024 at 14:57

Planning Notice
Summary of the contracting process

National Energy System Operator Limited (NESO), which ensures that Great Britain has the essential energy supply it needs, is seeking comprehensive financial audit services. Procuring under the CPV classification 79212000 for auditing services, this tender falls under the services category and is currently in the planning stage. NESO, now operating as a public sector organisation following its acquisition by the UK Government on 1st October 2024, requires these services to ensure transparency, accountability, and efficiency in its financial, performance, and regulatory operations. The estimated publication date for the next stage, 'Call for Competition,' is 17 December 2024. The procurement process includes multiple stages such as the Prior Information Notice, PQQ launch, RFP launch, and negotiations, with services to be delivered across the United Kingdom.

This tender presents significant opportunities for businesses specialising in financial auditing and compliance with International Standards of Supreme Audit Institutions (ISSAI). Firms with expertise in providing reasonable assurance over financial records, evaluating internal controls, and offering strategic guidance on accounting matters will find this project well-suited to their capabilities. The successful bidder will need to maintain close coordination with NESO's leadership and participate in regular committee meetings to report audit progress. By securing this contract, businesses can enhance their portfolio with a high-profile public sector client, leading to increased visibility and growth potential in the auditing industry.

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Notice Information

Notice Title

Tender for Audit Services: National Energy System Operator

Notice Description

National Energy System Operator (NESO) makes sure that Great Britain has the essential energy it needs by ensuring supply meets demand every second of every day. The UK's 2023 Energy Act established an independent system planner and operator to help accelerate Great Britain's energy transition; creating NESO. NESO is built on our previous experience as the National Grid Electricity System Operator (ESO), where we had extensive expertise in balancing electricity supply and demand 24/7, whilst making sure the networks we operated and the markets we served were prepared for the future. NESO was sold by National Grid to the UK Government on 1st October 2024 , becoming a public sector organisation from this date. We require comprehensive financial audit services compliant with International Standards of Supreme Audit Institutions (ISSAI). The objective is to ensure NESO's financial, performance, and regulatory operations are conducted with transparency, accountability, and efficiency. This specification provides the framework for the required audit services, including scope, planning, reporting, accountability, and SLAs. ________________________________________ 4. Scope of Services (Detailed) The audit firm is responsible for delivering the following detailed services: Financial Audit o Provide reasonable assurance over NESO's financial records in accordance with applicable accounting standards (IFRS ). o Verify that financial statements are free from material misstatements due to fraud, error, or irregularities. o Evaluate internal financial controls, focusing on risks associated with financial misreporting, operational inefficiencies, or compliance failures. o Provide an audit opinion on the true and fair representation of NESO's financial position, performance, and cash flow. o Conduct testing of key accounts to provide reasonable assurance over the financial assertions. o Update NESO leadership and Audit & Risk Committee (ARC) regarding relevant changes in legislation and regulation. o Report on external audit progress to NESO leadership, including attendance at bi-monthly ARC meetings and other board or committee meetings as required. o Provide guidance to NESO leadership in particular the Chief Financial Officer (CFO), chair of ARC, director of financial control, and the accounting & reporting lead on accounting and financial matters. o Liaise and coordinate with the CFO, director of financial control and accounting & reporting lead via a monthly progress meeting to ensure full exchange of information. o Produce an annual SOC1 report evaluating the effectiveness of NESO financial controls in relation to transmission revenue charging, for external distribution to UK transmission owners, including National Grid Electricity Transmission (NGET).

Lot Information

Lot 1

1. Prior Information Notice 2. PQQ Launch 3. PQQ Return 4. PQQ Evaluation and Moderation 5. RFP Launch 6. RFP Return 7. RFP Evaluation 8. Negotiations 9. Award and Standstill

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-04b588
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/037458-2024
Current Stage
Tender
All Stages
Planning, Tender

Procurement Classification

Notice Type
Planning Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Not specified
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

Notice Value(s)

Tender Value
£5,000,000 £1M-£10M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
20 Nov 20241 years ago
Submission Deadline
Not specified
Future Notice Date
16 Dec 2025Expired
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Planned
Lots Status
Planned
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
NATIONAL ENERGY SYSTEM OPERATOR 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
WOKINGHAM
Postcode
RG41 5BN
Postcode Area
Reading
Country
England
Major Region (ITL 1)
TLJ South East (England)
Basic Region (ITL 2)
TLJ1 Berkshire, Buckinghamshire and Oxfordshire
Small Region (ITL 3)
TLJ16 Berkshire West
Delivery Location
Not specified
Local Authority
Wokingham
Electoral Ward
Winnersh
Westminster Constituency
Wokingham

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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