Award

External audit services

CWMPAS

This public procurement record has 2 releases in its history.

Award

17 Oct 2022 at 15:19

S2W Notice - Website Contract Award Notice
Tender

16 May 2022 at 12:41

S2W Notice - Website Invitation to Tender Notice
Summary of the contracting process

The public procurement process for the provision of external audit services is being conducted by Cwmpas, a national body for co-operatives, mutuals, and social enterprises based in Caerphilly, Wales. The procurement stage is currently in the award phase with a contract signed on 4th July 2022. Interested parties were invited to bid by 10th June 2022. The industry category is services, and the buying organisation is specifically seeking professional audit and accountancy services for the financial year ending 31st March 2023. The contract duration is from September 2022 to September 2025, with a possibility of a two-year extension.

This tender provides an opportunity for businesses specialising in financial auditing services to secure a contract with Cwmpas. The successful organisation will be tasked with providing independent statutory annual audits and specific individual audits for public funded projects. The organisation must demonstrate experience with Community Benefit Societies regulated by the FCA. Additionally, commitment to social responsibility, equal opportunities, and environmental sustainability are key criteria for selection. Businesses with a proven track record in the financial audit sector and a focus on social impact are well-suited to compete for this contract.

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Notice Information

Notice Title

External audit services

Notice Description

Cwmpas, formerly known as the Wales Co-operative Centre, is Wales' national body for co-operatives, mutuals, social enterprises and employee owned businesses. It applies its co-operative values to supporting social businesses, strengthening communities, tackling poverty and promoting inclusion.It delivers major programmes on behalf of the EU (via the Welsh European Funding Office) and Welsh Government. Other funders include the Big Lottery and the Nationwide Foundation. It also delivers consultancy services to a wide range of clients.It employs just over 100 members of staff who are based across Wales. It is a co-operative, with an active community of members who shape the strategic direction of Cwmpas and democratically elect a Management Board each year.This document invites quotes for the provision of audit and accountancy services for Cwmpas.BackgroundCwmpas is registered with the Financial Conduct Authority under the Co-operative and Community Benefit Societies Act 2014.It prepares Financial Statements annually to the 31st March. The previous audited accounts for the year to 31st March 2021 resulted in a turnover of PS6.1million, a surplus of PS92k and a balance sheet total of PS965k. Turnover for the year to 31st March 2022 is forecast at PS6.5million. Following recent funding awards we are anticipating the turnover for the coming financial year (March 2023) to be circa PS7.2million.A copy of our latest audited accounts is attached with this request for quote. The organisation currently uses Sage Line 50 and Sage Payroll to manage its finances.The organisation delivers major programmes and activities funded via the Welsh European Funding Office (WEFO), the Welsh Government (WG) and other funding bodies. Project and contract values range from PS150k to PS15million in total with delivery timescales ranging from one to 5 years. Current major projects are as follows:Social Business Wales. This project supports the development and growth of social enterprises and co-operatives across Wales. It aims to increase the number, sustainability and growth of emerging and established social enterprises. The project operates in both the West Wales and the Valleys and the East Wales areas. Europeon funding comes to an end in June 2023. Replacement funding is expected, but at a lower value.Digital Communities Wales. Cwmpas delivers a Welsh Government project, Digital Communities Wales, which provides support to organisations that are working with digitally excluded groups, particularly older people, people with disabilities, unemployed people, social housing tenants and families in poverty.Co-operative Housing. Cwmpas offers business support and advice to new and existing organisations looking to develop Co-operative Housing schemes in Wales. With funding from Welsh Government and the Nationwide Foundation, our goal is to develop and stimulate demand for the Co-operative Housing approach throughout Wales.Other. The organisation has recently been awarded funding from the Community Renewal Fund. It also receives income from other funders such as the Lottery.Further details about the role and work of Cwmpas can be found at www.cwmpas.coop3. Audit and Accountancy Services RequirementsThe organisation requires the service of an organisation to provide professional audit and accountancy services. The principal outputs of the contract will be to provide annual audit reports for all public funded contracts/projects and to prepare and audit the statutory accounts derived from a Final Trial Balance provided by Cwmpas.The successful organisation will be formally appointed at the Annual General Meeting in September 2022 and will be expected to deliver all external audit services from that date. These services will include:* Independent statutory annual audit;* Individual annual audits for some public funded projects;* Occasional advice and support regarding taxation and Industrial and Provident reporting requirements;* Attendance at the Annual General Meeting;* Attendance at Risk and Audit committee meetings as required.Contract durationOrganisations are invited to quote for the provision of the external audit services for the period September 2022 to September 2025 including the statutory audit of the accounts for the financial year ending 31 March 2023. Subject to satisfactory performance and adherence to the schedule of fees set out in the quote submission, the contract will be awarded for an initial period of three years with an option to extend for any period up to a maximum period of two years.4. SPECIFICATIONYou are required to provide the following information as part of your quote submission. The selection criteria will involve consideration of all of this information.Relevant experience: A statement of your firm's experience of Community benefit Societies regulated by the FCA and commitment to the sector.Audit references: The provision of a list of three audit clients for which audit services are currently undertaken and from which references may be sought.Partners, Staff and Quality Assurance: A list of proposed audit staff including job titles, qualifications and relevant experience. An indication of the training provided to partners and staff to enable them to maintain professional knowledge of changes within the sector. An indication of the process adopted to ensure continuity of audit staff and of your internal quality assurance measures.Audit Structure and Fees: An outline of the audit approach and timetable for an organisation of the size and operation of Cwmpas. A detailed breakdown of the total costs for audit services provided for the financial year ending 31 March 2023 to include time, charge and disbursement costs at partner, senior and junior levels to support identified requirements.You are invited to submit either a fixed fee quotation for all audit services for the financial year ending 31 March 2023 or an estimate of the fees to be charged for the individual audit services to be provided.For both options, a full schedule of hourly rates for the staff involved in the audit and assumptions made should be provided.An acknowledgement that fees for subsequent years will be by negotiation but will be expected to be based on the fees charged for the financial year ending 31 March 2023 with an indexation component.It is expected that audit services will be re-tendered in three or five years time but Cwmpas reserves the right to vary this on the basis of a review of services and fees.Other Services: A statement of your ability to provide other services to Cwmpas (assuming these are allowable under audit independence requirements) beyond the basic audit should they be required with an indication of your price structure.Indemnity: The successful Contractor is required to hold Cwmpas indemnified against any claims arising whether caused by negligence or default of the Contractor. All bidders should provide evidence of adequate levels of professional indemnity insurance to a minimum sum of PS1million.Social responsibility: Fairness, diversity and protecting the environment are key priorities being addressed by Cwmpas and its funders. All bidders should therefore confirm in their submission that they are committed to supporting a fair wage, equal opportunities and diversity, environmental sustainability and the Welsh Language.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-kuma6s-121342
Publication Source
Sell2Wales
Latest Notice
https://www.sell2wales.gov.wales/search/search_switch.aspx?ID=121342
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
S2W Notice - Website Contract Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Not specified
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

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

CPV Codes

79211200 - Compilation of financial statements services

79212100 - Financial auditing services

79212300 - Statutory audit services

79222000 - Tax-return preparation services

Notice Value(s)

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

Notice Dates

Publication Date
17 Oct 20223 years ago
Submission Deadline
10 Jun 2022Expired
Future Notice Date
Not specified
Award Date
4 Jul 20223 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
CWMPAS
Contact Name
Joanne Jones
Contact Email
joanne.jones@cwmpas.coop
Contact Phone
+44 3001115050

Buyer Location

Locality
CAERPHILLY
Postcode
CF83 2AX
Post Town
Cardiff
Country
Wales
Major Region (ITL 1)
TLL Wales
Basic Region (ITL 2)
TLL5 South East Wales
Small Region (ITL 3)
TLL53 Gwent Valleys
Delivery Location
Not specified
Local Authority
Caerphilly
Electoral Ward
Penyrheol
Westminster Constituency
Caerphilly

Supplier Information

Number of Suppliers
1
Supplier Name

HAINES WATTS WALES

Further Information

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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An indication of the process adopted to ensure continuity of audit staff and of your internal quality assurance measures.Audit Structure and Fees: An outline of the audit approach and timetable for an organisation of the size and operation of Cwmpas. 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