Award

Staff Benefits Scheme External Audit Services

UNIVERSITY OF EDINBURGH

This public procurement record has 2 releases in its history.

Summary of the contracting process

The University of Edinburgh, serving as the contracting authority, has recently completed the procurement process for the provision of "Staff Benefits Scheme External Audit Services." This contract falls under the education category, focusing on services within the UK region, specifically Edinburgh. The procurement utilized an open procedure, indicative of a transparent and competitive tendering process. Key milestones include the initial tender issuance on 3rd February 2025, with a submission deadline of 6th March 2025. The contract, valued at GBP 120,000, was awarded to RSM UK Audit LLP on 24th June 2025, and covers a three-year period, offering the potential for a three-year extension, ensuring long-term collaboration and growth opportunities.

This procurement offers significant opportunities for businesses specializing in audit and financial services to demonstrate expertise in handling complex financial statements and compliance with international standards. Firms that excel in delivering innovative solutions and have personnel experienced in the nuances of public sector pensions auditing are well-positioned to compete. The scale of the University of Edinburgh's Staff Benefits Scheme, with assets valued at approximately GBP 410 million and a substantial membership, provides an expansive scope for business growth and the establishment of a portfolio within the educational sector. Businesses aiming to enhance their reputation through public sector partnerships may find this tender particularly beneficial.

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Notice Title

Staff Benefits Scheme External Audit Services

Notice Description

To design and deliver an audit programme to assess the annual report and financial statements for the Staff Benefits Scheme.

Lot Information

Lot 1

The University of Edinburgh Staff Benefits Scheme (SBS) is the Defined Benefit pension arrangement based on career average revalued earnings (CARE) for support staff within the University of Edinburgh. Established in 1966, the current market value of the Scheme's assets is circa GBP 410,000,000 and has approximately 1,700 active, 2,300 deferred and 2,400 pensioner members. Although the University of Edinburgh is the principal employer sponsoring the scheme, the scheme is set up under trust and is governed independently according to its trust deed and rules by a sole corporate trustee, the directors of which are appointed in accordance with the trust deed and articles of the Trustee to run the scheme. Both the University and members contribute to the scheme and the amount of pension payable is dependent upon: - the length of time served in the scheme (known as pensionable service); - career averaged earnings; - the scheme's accrual rate. The accrual rate is the proportion of salary that is received for each year of service. The contract is for the provision of external audit services in connection with the annual report and financial statements of the scheme. The supplier is expected to audit the annual report and financial statements for SBS in accordance with all statutory responsibilities, as set out in the International Standards in Auditing (UK) and PA95.

Options: Three year initial period followed by the option to extend for a further three years.

Renewal: Three year initial period followed by the option to extend for a further three years.

Publication & Lifecycle

Open Contracting ID
ocds-r6ebe6-0000789481
Publication Source
Public Contracts Scotland
Latest Notice
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=JUN533569
Current Stage
Award
All Stages
Tender, 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

79212000 - Auditing services

Notice Value(s)

Tender Value
£150,000 £100K-£500K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£120,000 £100K-£500K

Notice Dates

Publication Date
30 Jun 20257 months ago
Submission Deadline
6 Mar 2025Expired
Future Notice Date
Not specified
Award Date
24 Jun 20258 months 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

Contracting Authority (Buyer)

Main Buyer
UNIVERSITY OF EDINBURGH
Contact Name
GORDON WHITTAKER
Contact Email
aoughton@ed.ac.uk, gordon.whittaker@ed.ac.uk
Contact Phone
+44 1316502759

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
TLM75 City of Edinburgh

Local Authority
City of Edinburgh
Electoral Ward
City Centre
Westminster Constituency
Edinburgh East and Musselburgh

Supplier Information

Number of Suppliers
1
Supplier Name

RSM UK AUDIT

Further Information

Notice Documents

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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