Summary of the contracting process

The Development Bank of Wales (DBW) is currently in the tender stage of procuring external auditor services, starting from 13 February 2025 and ending on 12 February 2027, with the possibility of a three-year extension. This contract, classified under the CPV code 79212000 for auditing services, encompasses the audit of the group's Annual Report and Financial Statements as well as subsidiary accounts. The services are to be performed in Cardiff, UK, for the financial year ending 31 March 2026. Key dates include the tender submission deadline on 6 January 2025 and the bid opening on the same day at noon.

This tender presents significant opportunities for businesses specialising in financial auditing services, especially those experienced with IFRS, FRS101, FRS102, and CASS assurance. The process is open to consortia, enhancing collaborative potential for smaller firms. The selection criteria emphasize capability, technical knowledge, and fee proposals, along with a presentation and an informal meeting with senior members of DBW's finance team. These aspects aim to ensure that the chosen auditors can meet high standards and foster long-term business relationships, providing substantial growth prospects for qualified auditing firms.

Tender

External Auditor Services

DEVELOPMENT BANK OF WALES

Contract Timeline

Publication Date

29th November 2024 11:11:00 AM

Tender Deadline

6th January 2025 12:00:00 PM 11 days remaining
Contract Summary

DBW wishes to procure external audit services for the group for the financial year ended 31 March 2026 which should include: The audit of the group’s Annual Report and Financial Statements, prepared under IFRS, noting that any future changes to IFRS should be incorporated into all future audits under this agreement. The audit of the group’s subsidiary accounts, to include: Limited companies and General partners, prepared under FRS101 Limited Partnerships, one of which is consolidated and is prepared under FRS101, the remainder are non-consolidated and prepared under FRS102 Client Asset Sourcebook (CASS) assurance for FW Capital Providing audit confirmations on a Component Auditor basis to the Welsh Audit Wales Office.
Contract Details

Open Contracting ID

ocds-h6vhtk-04c112

Publication Source

Find a Tender Service

Procurement Stage

Tender

Procurement Method

Open

Procurement Method Details

Open Procedure

Procurement Category

Services

Tender Suitability

Framework / DPS
Contract Classification

CPV Code(s)

79212000

CPV Division(s)

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

DEVELOPMENT BANK OF WALES

Buyer Name

leanne m millard

Buyer Email

procurement@developmentbank.wales

Buyer Phone

+44 2920338100

Buyer Address

Development Bank of Wales plc, Unit J, Yale Business Village, Ellis Way

Wrexham

LL13 7Y

United Kingdom

View contract on Find a Tender Service

External Auditor Services

DEVELOPMENT BANK OF WALES

Contract Timeline

Contract Summary

Contract Details

Contract Classification

Awarding Authority