Notice Information
Notice Title
External Audit
Notice Description
The external auditors will be engaged to undertake the audit of the University's financial statements, its subsidiaries and quasi-subsidiaries.
Lot Information
Lot 1
The external auditors will be engaged to undertake the audit of the University's financial statements, its subsidiaries and quasi-subsidiaries, and shall report whether in all material respects: 1.1 The financial statements give a true and fair view, in accordance with UK Generally Accepted Accounting Practice (UK GAAP), of the state of the University's affairs, and of its comprehensive income and expenditure and statement of cash flow for the year. They should take into account relevant statutory and other mandatory disclosure and accounting requirements, and Funding Council requirements. 1.2 The financial statements have been properly prepared in accordance with the Statement of Recommended Practice (SORP) - Accounting in Further and Higher Education, and the Companies Acts where relevant, and/or other legislative or regulatory requirements. 1.3 Funds from whatever source administered by the institution 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. 1.4 Funds provided by the Funding Council have been applied in accordance with the Financial Memorandum and the mandatory requirements attached to the Financial Memorandum. 1.5 The financial statements for US filing are in accordance with US Generally Accepted Accounting Practice (US GAAP). 2. Audit certificates relating to subsidiary activities which should be covered as part of the overall audit routine, for example, Hardship, Child Care and Nursing Discretionary Funds Statements and US loans. For clarity, certification of European Research Grants are not included in this tender. 3. The external auditor will report to the Audit & Risk Committee and the University Court (by way of a management letter), any significant matters arising from the audit which might lead to material errors or have an impact on future audits. This may include: 3.1 Areas where economies could be made or resources could be used more effectively, with advice for improvement. 3.2 Weaknesses in the structure and operation of accounting systems and internal control. 3.3 That the work of the internal auditors has been assessed, and the extent to which reliance can be placed on the work of the internal auditors in support of external audit work. 3.4 Inappropriate accounting practices and regulations. 3.5 Non-compliance with legislation, accounting standards, Funding Council requirements or other regulations. 4. The external auditor is expected to attend all meetings of the Audit & Risk Committee, which are four times per annum. 5. The external auditor, notwithstanding responsibilities to the University, is expected to co-operate fully with any enquiries or routine monitoring that the Scottish Funding Council undertakes. 6. Provision of training and updates on Corporate Governance, Accounting Standards, Financial Reporting Standards and Audit Standards, and other legislative changes as they apply to the University. 7. Irregularities including fraud.
Notice Details
Publication & Lifecycle
- Open Contracting ID
- ocds-r6ebe6-0000740550
- Publication Source
- Public Contracts Scotland
- Latest Notice
- https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=AUG485118
- Current Stage
- Award
- All Stages
- Award
Procurement Classification
- Notice Type
- PCS Notice - Website 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
79212400 - Fraud audit services
Notice Value(s)
- Tender Value
- Not specified
- Lots Value
- Not specified
- Awards Value
- Not specified
- Contracts Value
- £2,967,264 £1M-£10M
Notice Dates
- Publication Date
- 3 Aug 20232 years ago
- Submission Deadline
- Not specified
- Future Notice Date
- Not specified
- Award Date
- 12 Jun 20232 years ago
- Contract Period
- Not specified - Not specified
- 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
- UNIVERSITY OF EDINBURGH
- Contact Name
- Not specified
- Contact Email
- maria.dick@ed.ac.uk
- Contact Phone
- Not specified
Buyer Location
- Locality
- EDINBURGH
- Postcode
- EH1 1HT
- Post Town
- 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
- TLM Scotland
-
- Local Authority
- City of Edinburgh
- Electoral Ward
- City Centre
- Westminster Constituency
- Edinburgh East and Musselburgh
Further Information
Notice Documents
-
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=AUG485118
External Audit - The external auditors will be engaged to undertake the audit of the University's financial statements, its subsidiaries and quasi-subsidiaries.
Open Contracting Data Standard (OCDS)
View full OCDS Record for this contracting process
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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