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External Audit Services

Heriot Watt University

This public procurement record has 2 releases in its history.

Award

21 Jan 2020 at 00:00

OJEU - F3 - Contract Award Notice
Tender

14 Oct 2019 at 01:00

OJEU - F2 - Contract Notice
Summary of the contracting process

The procurement process for External Audit Services was conducted by Heriot Watt University, located in Riccarton, Edinburgh. This open tender, identified by the ID HWU/1885, sought to appoint external auditors responsible for reporting on the financial statements of the university and its subsidiaries. The tender process has now been completed, with the audit services awarded to Ernst & Young following a scheduled tender period that ended on 18th November 2019.

This tender offers an excellent opportunity for businesses in the auditing and financial consulting sectors to expand their operations, particularly those capable of managing large-scale audit assignments. Given the significant financial thresholds and insurance requirements specified, firms with substantial experience and robust financial standings would be ideally suited to compete for such contracts in the education sector. Additionally, businesses interested in providing specialist services may find room for collaboration, as the university reserves the right to appoint additional firms for niche requirements.

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Notice Information

Notice Title

External Audit Services

Notice Description

The University has a requirement to appoint External Auditors to report on Financial Statements of both the University and its subsidiary companies.

Lot Information

Lot 1

The primary role of the External Auditors will be to report on the financial statements of the University and to carry out whatever examination of the statements and underlying records and control systems is necessary to reach their opinion on the statements. Additionally, the External Auditors shall report that funds from whatever source administered by the Group or the University for specific purposes have been properly applied to those purposes and, if relevant, managed in accordance with relevant legislation and any other terms and conditions attached to them; and that those provided by the SFC have been applied in accordance with the Financial Memorandum and the mandatory requirements. The scope of the External Audit Service must include the whole of the Heriot-Watt Group, which includes the following active subsidiary companies: - Heriot-Watt University Malaysia Sdn Bhd; - Heriot-Watt Services Ltd; and - Heriot-Watt Trading Ltd The University intends to appoint a single supplier but reserves the right to appoint a further firm or firms of auditors for specialist matters, where a substantial matter, project or transaction is contemplated or in any matter where the University believes that a conflict of interests may otherwise arise.. Economic operators may be excluded from this competition if they are in any of the situations referred to in regulation 58 of the Public Contracts (Scotland) Regulations 2015.

Renewal: It is proposed that the upcoming contract is for a three-year term, from Jan 1 2020 to Dec 31 2022, with two one-year options to extend.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-r6ebe6-0000600692
Publication Source
Public Contracts Scotland
Latest Notice
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=JAN378004
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
OJEU - F3 - Contract Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
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

79212100 - Financial auditing services

Notice Value(s)

Tender Value
£500,000 £500K-£1M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£485,000 £100K-£500K

Notice Dates

Publication Date
21 Jan 20206 years ago
Submission Deadline
18 Nov 2019Expired
Future Notice Date
Not specified
Award Date
18 Dec 20196 years ago
Contract Period
1 Jan 2020 - 31 Dec 2022 3-4 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Heriot Watt University
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
RICCARTON, EDINBURGH
Postcode
EH14 4AP
Postcode Area
Edinburgh
Country
Scotland
Major Region (ITL 1)
TLM Scotland
Basic Region (ITL 2)
TLM1 East Central Scotland
Small Region (ITL 3)
TLM13 City of Edinburgh
Delivery Location
TLM75 City of Edinburgh
Local Authority
City of Edinburgh
Electoral Ward
Pentland Hills
Westminster Constituency
Edinburgh South West

Supplier Information

Number of Suppliers
1
Supplier Name

Ernst & Young

Further Information

Notice Documents

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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