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Research Services - Benchmarking the Value of XBRL and structured data in an AI-Driven Reporting Environment

THE FINANCIAL REPORTING COUNCIL LIMITED

This public procurement record has 1 release in its history.

Tender

07 Jul 2026 at 10:47

UK4 - Tender Notice
Summary of the contracting process

The Financial Reporting Council Limited (FRC), a public authority within the central government of the United Kingdom, is currently in the tender stage for a project titled "Research Services - Benchmarking the Value of XBRL and Structured Data in an AI-Driven Reporting Environment." This project falls under the industry category of Research and Development Services and is open for businesses in various UK regions, including UKC, UKD, UKE, UKF, UKG, UKH, UKI, UKJ, and UKK. The procurement process is open and below the threshold for open competition, with a tender submission deadline of 31st July 2026. The study aims to evaluate the performance of AI models using structured data like XBRL against traditional formats such as PDF and HTML, further aligning with the FRC's digital reporting agenda. The contract period is set to begin on 17th August 2026 and conclude by 30th November 2026, with provisions for renewal and additional options.

This tender presents a significant opportunity for businesses specialising in research services, particularly those with expertise in AI, data analytics, and digital reporting technologies. Small and medium-sized enterprises (SMEs) are encouraged to participate, as the contract is suitable for them and includes comprehensive research responsibilities like proposing a robust study design, utilising appropriate AI models, and delivering evidence-based conclusions. By engaging with this project, businesses can enhance their credentials in cutting-edge reporting technologies and contribute to shaping the future landscape of digital reporting frameworks. The project's budget of £70,000 presents a worthwhile opportunity for qualified research entities to showcase their capabilities and influence advancements in the field of corporate reporting.

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Notice Information

Notice Title

Research Services - Benchmarking the Value of XBRL and structured data in an AI-Driven Reporting Environment

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 FRC is seeking to strengthen its understanding of how structured data performs in an AI-driven reporting environment. This aligns with the FRC's wider technology and digital reporting agenda, including work to understand the opportunities and risks arising from AI and to support high-quality digital reporting. The FRC is seeking to commission research services to benchmark the value of XBRL in an AI-driven reporting environment. The study will assess how structured data, including XBRL, performs in comparison with equivalent disclosures presented in PDF and HTML formats. The research should use clearly evidenced measures, including accuracy, completeness, consistency and explainability, to compare how AI models interpret, extract and reason from disclosures in different formats. The findings will support the FRC's work on digital reporting, structured data quality and the usability of corporate reporting information by preparers, users, regulators and technology providers. This evidence gap is central to the proposed study. The FRC requires robust comparative evidence on AI performance across equivalent disclosures presented in XBRL, PDF and HTML formats. The FRC requires the appointment of a suitably qualified external research provider to design and deliver a benchmarking study comparing AI model performance across equivalent corporate reporting disclosures presented in XBRL, PDF and HTML formats. The benchmarking should include determining which format is the most effective relating to: * Numerical information, * Accounting standard-related information, * Narrative information, and * Consistency and overall quality of information. The external provider will be expected to propose a robust research design, identify and justify suitable AI models and testing methods, and produce clear, evidence-based findings. PLEASE SEE INVITATION TO TENDER FOR FULL DETAILS.

Lot Information

Lot 1

Options: The FRC reserves the right to procure further Services of the same / related nature.

Renewal: The supplier should deliver the Services (as per the Invitation to Tender (ITT) by the end of November 2026). Should the FRC amend/alter the requirement the timeline may change.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-06c503
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/063574-2026
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
UK4 - Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Below threshold - open competition
Tender Suitability
SME
Awardee Scale
Not specified

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
£70,000 Under £100K
Lots Value
£70,000 Under £100K
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
7 Jul 20261 weeks ago
Submission Deadline
31 Jul 20263 weeks to go
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
16 Aug 2026 - 30 Nov 2026 1-6 months
Recurrence
Not specified

Notice Status

Tender Status
Active
Lots Status
Active
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

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
TLC North East (England), TLD North West (England), TLE Yorkshire and The Humber, TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLI London, TLJ South East (England), TLK South West (England)
Local Authority
Tower Hamlets
Electoral Ward
Blackwall & Cubitt Town
Westminster Constituency
Poplar and Limehouse

Further Information

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

JSON Markdown

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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