Award

Research Services into the use of artificial intelligence and other disruptive technologies in corporate reporting

THE FINANCIAL REPORTING COUNCIL LIMITED

This public procurement record has 3 releases in its history.

Award

11 Nov 2025 at 10:40

TenderUpdate

29 May 2025 at 14:18

Tender

28 May 2025 at 11:01

Summary of the contracting process

The Financial Reporting Council Limited, a central government public authority based in London, has completed a procurement process for research services into the use of artificial intelligence and disruptive technologies in corporate reporting. This procurement process, identified as FRC2025-066, falls within the research and development services industry category, focusing on enhancing corporate governance and audit processes. The contract was awarded to the University of Lancaster, with the contract period running from 15th October 2025 to 31st March 2026, with potential extensions up to July 2026. The open procurement method applied was under the 'Below threshold - open competition' category, with the final contract value totalling £64,065 excluding VAT. The research aims to inform FRC regulatory practice and policy by gathering evidence on the use of AI in corporate reporting.

This contract presents significant opportunities for organisations in the research and consultancy sectors, particularly those with expertise in artificial intelligence and corporate governance. Small and medium enterprises (SMEs), as well as large firms, could find substantial opportunities in future research services similar to this project. Companies with capabilities in innovative technological applications and a track record in financial consultancy would be well-suited to compete, especially if they can offer competitive approaches and pricing. Additionally, the requirement for businesses to have relevant personnel experience provides an advantage to those with established teams who have a robust methodological grounding in AI and governance research.

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Notice Title

Research Services into the use of artificial intelligence and other disruptive technologies in corporate reporting

Notice Description

The Financial Reporting Council (FRC) regulates auditors, accountants and actuaries and sets the UK's Corporate Governance and Stewardship Codes. As the Competent Authority for audit in the UK, we set auditing and ethical standards and monitor and enforce audit quality. The purpose of the FRC is to serve the public interest and support UK economic growth by upholding high standards of corporate governance, corporate reporting, audit and actuarial work. Companies are using artificial intelligence (AI) and other disruptive technologies within their business operations. However, there is currently a limited understanding of, and evidence on, their use of AI and other disruptive technologies in the production of narrative/financial information in corporate reports ('corporate reporting'). The FRC is seeking research services into the use of artificial intelligence and other disruptive technologies in corporate reporting. This research project will gather evidence about the use of AI and other disruptive technologies in corporate reporting to inform FRC regulatory practice and policy. The research project will answer the following research questions: (1). What specific AI and other disruptive technologies are most commonly used in corporate reporting, and how are they being used? (2). How is the use of AI and other disruptive technologies in corporate reporting influencing changes to governance and audit processes? (3). How do companies believe their stakeholders perceive the reliability and transparency of corporate reports prepared with the use of AI? The research population will be companies that meet the UK Public Interest Entity (PIE) definition, i.e. those with transferable securities listed on a UK-regulated market, credit institutions, and insurance undertakings, and their finance and corporate reporting teams.

Lot Information

Lot 1

Options: Additional research services of the same nature.

Renewal: Four months extension

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-0527c3
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/072678-2025
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
UK7 - Contract Details Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Below threshold - open competition
Tender Suitability
SME, VCSE
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

73 - Research and development services and related consultancy services


CPV Codes

73000000 - Research and development services and related consultancy services

Notice Value(s)

Tender Value
£65,000 Under £100K
Lots Value
£65,000 Under £100K
Awards Value
Not specified
Contracts Value
£64,065 Under £100K

Notice Dates

Publication Date
11 Nov 20256 months ago
Submission Deadline
8 Jul 2025Expired
Future Notice Date
Not specified
Award Date
14 Oct 20257 months ago
Contract Period
14 Oct 2025 - 31 Mar 2026 1-6 months
Recurrence
Not specified

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
THE FINANCIAL REPORTING COUNCIL 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
LONDON
Postcode
E14 9GE
Post Town
East London
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI42 Tower Hamlets
Delivery Location
TLI London

Local Authority
Tower Hamlets
Electoral Ward
Blackwall & Cubitt Town
Westminster Constituency
Poplar and Limehouse

Supplier Information

Number of Suppliers
1
Supplier Name

UNIVERSITY OF LANCASTER

Open Contracting Data Standard (OCDS)

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