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Financial Accounting review

O F W A T

This public procurement record has 1 release in its history.

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31 Jul 2026 at 15:00

UK7 - Contract Details Notice
Summary of the contracting process

The Water Services Regulation Authority, known as Ofwat, procured a financial accounting review of its accounting team. This is a professional financial consultancy service, covering the review of accounting activities and related financial processes. The work is associated with Ofwat’s operations across England and Wales, including the North East, North West, Yorkshire and the Humber, the East Midlands, the West Midlands, the East of England, London, the South East, the South West and Wales. The buyer is a central government public authority based in Birmingham. The requirement is suited to firms providing financial accounting review, financial consultancy and related advisory services for a public-sector regulator operating across multiple UK regions.

The procurement is complete and the contract has been awarded following a below-threshold limited competition. There was one completed lot. Grant Thornton UK LLP was awarded the contract and the contract was signed on 22 July 2026. The contract runs from 27 July 2026 to 30 October 2026. Its value is £30,000 excluding VAT, or £36,000 including VAT. The award covers financial consultancy, financial transaction processing and clearing-house services. The published information records the award as active and the contract as active. The procurement used a limited procedure rather than an open competition; the available outcome information identifies the selected supplier but does not set out separate price or quality weightings.

For firms that did not win this requirement, the award demonstrates demand from Ofwat for specialist review of an accounting team and its financial accounting arrangements. A credible competitor for a future requirement would need established capability in financial accounting review and financial consultancy, with the expertise to assess accounting activities and related processes for a central government public authority. Experience working with regulated or public-sector organisations would help demonstrate an understanding of governance, assurance and accountability expectations, although no particular accreditation is recorded here. The requirement also indicates that suppliers may need to support work spanning England and Wales and operate effectively across a geographically broad public-sector organisation. The selected supplier was a large professional services firm, indicating a market in which organisational capacity and credible advisory delivery are relevant.

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Notice Information

Notice Title

Financial Accounting review

Notice Description

Financial Accounting review of the accounting team

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-06d912
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/072804-2026
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
UK7 - Contract Details Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Limited
Procurement Method Details
Below threshold - limited competition
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66170000 - Financial consultancy, financial transaction processing and clearing-house services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£30,000 Under £100K

Notice Dates

Publication Date
31 Jul 20262 months ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
27 Jul 2026 - 30 Oct 2026 1-6 months
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
O F W A T
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
BIRMINGHAM
Postcode
B5 4UA
Postcode Area
Birmingham
Country
England
Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG3 West Midlands
Small Region (ITL 3)
TLG31 Birmingham
Delivery Location
Not specified
Local Authority
Birmingham
Electoral Ward
Ladywood
Westminster Constituency
Birmingham Ladywood

Supplier Information

Number of Suppliers
1
Supplier Name

Grant Thornton UK LLP

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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