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C0963 - Financial Model Audit Services

UK INFRASTRUCTURE BANK LIMITED

This public procurement record has 1 release in its history.

Award

10 Sep 2026 at 15:27

Award Notice
Summary of the contracting process

National Wealth Fund Limited procured financial model audit services for its direct equity investments. The work involves auditing the operating models used for direct equity investments, providing assurance over the financial models that support those investments. It falls within accounting and auditing services, with related business consultancy services. Delivery is across the United Kingdom. The requirement was organised as a further competition under a Dynamic Purchasing System and covered a two-year service period. The buyer is based in Leeds and operates as a national economic affairs body. This opportunity is relevant to audit, financial modelling, investment assurance and related professional services firms able to examine direct equity operating models and provide structured assurance to a public-sector investment organisation.

The procurement is complete and was awarded to Deloitte LLP; the associated contract is active and was signed on 16 March 2025. It used a limited procedure under a Dynamic Purchasing System, described as an award without prior publication of a call for competition. Seven bids were recorded, including one from an SME. Recorded valid bid values ranged from £1 to £480,000. Evaluation was based on price at 30% and quality at 70%: proposed approach and methodology 17.5%, successful delivery 17.5%, resourcing and delivery plan 25%, and key risks and mitigations 10%. The requirement was presented as one lot, although that lot is recorded as cancelled while the award and contract remain active. The procurement was covered by the Government Procurement Agreement.

This award shows demand from National Wealth Fund Limited for specialist assurance of direct equity investment operating models, rather than general statutory audit alone. A credible future supplier would need demonstrable financial model audit capability, experience testing complex investment or operating models, and the ability to identify and explain model risks. The evaluation places particular emphasis on the proposed methodology, successful delivery, resourcing and delivery planning, and risk mitigation, so firms should be able to present a robust audit approach backed by suitably skilled staff and clear delivery controls. The seven recorded bids, including one SME, indicate competition from both large and smaller providers. Firms targeting similar work should be prepared to evidence reliable delivery for a public-sector investment organisation and strong financial-model assurance expertise.

How relevant is this notice?

Notice Information

Notice Title

C0963 - Financial Model Audit Services

Notice Description

The supply of Financial Model Audit Services to undertake audits of the direct equity operating models for direct equity investments

Lot Information

Lot 1

Further competition under Dynamic Purchasing System for the supply of Financial Model Audit Services to undertake audits of the direct equity operating models for direct equity investments. This covers a two year time period.

Procurement Information

This contract was competed under a Dynamic Purchasing System which was tendered under PCR15: https://www.find-tender.service.gov.uk/Notice/006418-2025 We are unable to link the notice (2025/S 000-006418) and select Restricted Procedure here since the FTS website will not allow us to do so, however, this has followed the correct procedure.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-06f723
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/086018-2026
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Limited
Procurement Method Details
Award procedure without prior publication of a call for competition
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

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

CPV Codes

79000000 - Business services: law, marketing, consulting, recruitment, printing and security

79210000 - Accounting and auditing services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
10 Sep 20265 days ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
UK INFRASTRUCTURE BANK 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
LEEDS
Postcode
LS1 4HR
Postcode Area
Leeds
Country
England
Major Region (ITL 1)
TLE Yorkshire and The Humber
Basic Region (ITL 2)
TLE4 West Yorkshire
Small Region (ITL 3)
TLE42 Leeds
Delivery Location
Not specified
Local Authority
Leeds
Electoral Ward
Hunslet & Riverside
Westminster Constituency
Leeds South

Supplier Information

Number of Suppliers
1
Supplier Name

Deloitte LLP

Further Information

Open Contracting Data Standard (OCDS)

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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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