Award

Internal Audit Services

LONDON BOROUGH OF NEWHAM

This public procurement record has 2 releases in its history.

Award

23 Apr 2025 at 13:39

Tender

04 Feb 2025 at 15:40

Summary of the contracting process

The London Borough of Newham, a regional authority, has completed the procurement process for a contract titled "Internal Audit Services." Under the open procedure, TIAA Ltd was awarded the contract on 1st April 2025, with a total contract value of £417,150. The services fall under the CPV category 79212200 - Internal audit services, with activities to be conducted in the UK region UKI41. The procurement stage has progressed from tender to the award, with the procurement process initiated in February 2025 and key activities such as bid submission concluding by 6th March 2025. This contract involves conducting twelve risk-based audits over the 2025/26 period, strategically timed throughout the year to ensure comprehensive coverage.

This tender presents significant growth opportunities for businesses specialising in internal audit services, particularly those with experience in handling risk-based council, financial system, and IT audits. As the contract spans a full year with a potential 2-year extension, it is especially advantageous for small to medium-sized enterprises like TIAA Ltd., which can leverage this opportunity to expand their portfolio within the public sector. The structured timeline and defined scope of work provide a clear framework for businesses to plan and allocate resources efficiently, ensuring value-added service delivery to the London Borough of Newham. The open procurement method encourages diverse competition, making it ideal for businesses ready to demonstrate quality service and competitive pricing.

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Notice Title

Internal Audit Services

Notice Description

The Bidder is required to deliver twelve risk based audits to the corporate centre and directorates. A list of the 12 risk based audits will be provided after the appointment of the successful bidder, however, we reserve the right to make substitutions where required. We expect the average number of days for each audit to be approximately 20. These audits will be carried out during 2025/26, with all final reports cleared by the Corporate Directors and being delivered to the Internal Audit Manager within 12 months after the start date of this contract. We expect that these audits will be spread throughout the year and we will work with the successful bidder to agree a suitable timetable.

Lot Information

Lot 1

The audits to be undertaken and their timing will be selected by the Council's Internal Audit Manager with a scope agreed by them and are likely to cover the following areas (please note that this list is indicative of the audits to be undertaken, but the exact audits may change during the year): * Risk based council audits * Financial system audits * IT audits.

Renewal: Contract of 2 years plus a potential 1 year extension.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-04db8d
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/016560-2025
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
SME

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
£417,150 £100K-£500K

Notice Dates

Publication Date
23 Apr 202510 months ago
Submission Deadline
6 Mar 2025Expired
Future Notice Date
Not specified
Award Date
31 Mar 202510 months 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
LONDON BOROUGH OF NEWHAM
Contact Name
Not specified
Contact Email
procurement.support@newham.gov.uk
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
E16 2QU
Post Town
East London
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI41 Hackney and Newham
Delivery Location
TLI41 Hackney and Newham

Local Authority
Newham
Electoral Ward
Royal Albert
Westminster Constituency
West Ham and Beckton

Supplier Information

Number of Suppliers
1
Supplier Name

TIAA

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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