Tender

External Audit

LOREBURN HOUSING ASSOCIATION

This public procurement record has 1 release in its history.

Tender

01 Apr 2025 at 00:00

PCS Notice - Website Contract Notice
Summary of the contracting process

The Loreburn Housing Association (LHA), located in Dumfries, UK, is inviting tenders for external audit services for financial years 2026/27 to 2029/30, potentially extendable for another two years. This open procedure tender aims to appoint a registered audit firm to ensure compliance with legal and regulatory requirements and assess internal controls, governance, and risk management. The procurement process, currently in the tender stage, emphasizes the importance of electronic submissions and requires all responses by 12:00 PM on 4th July 2025. The contract commencement is scheduled for 7th July 2025. The service will be conducted in Dumfries and Galloway, covering both LHA and its associated company, Dumfries and Galloway Home Limited.

This tender presents significant opportunities for registered audit firms specializing in external audits, corporate tax services, and consultancy. Ideal candidates will possess expertise in the housing and community amenities sector and have a robust understanding of the associated legal, regulatory, and international auditing standards. Firms providing thorough, independent financial assessments and those capable of meeting critical deadlines will find this tender particularly appealing. Moreover, businesses equipped to offer auxiliary management consultancy services while avoiding conflicts of interest will gain a competitive edge in the selection process. This contract not only offers a stable revenue stream but also potential growth through additional assignments during the contract period.

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Notice Information

Notice Title

External Audit

Notice Description

1.1. Loreburn Housing Association (LHA), a Registered Social Landlord, is looking for a firm of registered Auditors to carry out its External Audit services for a period of three years from Financial Years 2026/30 onwards, with a potential to extend this for a further 2 years. 1.2. The External Audit service will provide the LHA Management Committee with an independent and objective opinion on the financial statements in accordance with the relevant legal and regulatory requirements and International Standards of Auditing. The audit will also provide the Management Committee with a view on internal controls, governance arrangements, and risk management by measuring and evaluating their effectiveness in supporting LHA's corporate objectives. In addition, the successful Auditor may be engaged from time to time by LHA to perform ad hoc assignments. 1.3. The external audit firm may also be invited to provide certain management consultancy services as agreed. Applicable daily rates for specialist consultancy staff should be provided. To avoid potential conflicts of interest, the Association wishes to specifically exclude the successful external audit firm from undertaking certain consultancy assignments on their behalf, for example internal audit. 1.4. LHA forms part of the Loreburn Group. There is one associated company of LHA - Dumfries and Galloway Home Limited (DGH) - SC304439. The board of this company also requires the services of a firm of registered Auditors to carry out its External Audit services and Corporate Tax services for a period of three years from Financial Years 2025/26 onwards, with a potential to extend this for a further 2 years and this also forms part of this tender. It is envisaged that the same firm of Auditors will act for both entities.

Lot Information

Lot 1

3.1.6. The external audit and tax service will include, but not be limited to: - The planning, management, and efficient execution of the annual external audit of financial statements - Preparation of an annual audit plan for each business to be made available to each board in line with the timetable below - Formal reporting to the Audit and Compliance committee, the Management Committee, and any other Board meetings where the members require clarification of the accounts. - Meetings with the Executive management team pre and post audit to discuss audit plan and audit report respectively in advance of Committee/Board meetings - Review of the final financial statements on behalf of the group companies for accuracy, in terms of technical and numerical. The draft accounts will be prepared by the LHA Group Head of Finance. - The Auditor will prepare an annual audit finding report for the financial year for presentation at a meeting of the Audit & Compliance Committee on completion of their audit by the agreed dates in the table below - The report will include; - Summary of activity against plan. - Main recommendations, responses and outcomes. - Limitations on audit. - Overall assessment of internal controls. - Recommendations for changes, improvements, etc. to the External Audit Service, with costings if necessary. - Audit field work on site for up to 5 days for the final audit. Regular progress updates to management to be provided during the field work, concluding with a clearance meeting encompassing all audit issues. Therefore, all works must be based on a total of 10 days for the pricing schedule. - Attendance at LHA's Annual General Meeting with a report presentation - Provision of timely and accurate advice and guidance on technical accounting and finance issues. Owing to the time critical nature of the process of preparation of annual financial statements it is expected that the principal external audit contacts will be readily available by telephone/email and will provide a full response to requests within 2 working days. - Preparation and submission of the Corporation Tax Return for DGH. - Timely provision of relevant technical accounting updates, including relevant Financial Reporting Standards, Statements of Recommended Practice and Accounting Orders. - Excellent and timely communication between auditor and client on all matters, including feedback on information supplied and immediate feedback on any predicted cost over-runs. - The provision of added value and innovation to the audit process. - The supplier is expected to use their skill, knowledge and expertise to identify any gaps in this scope and address them in their submission. - Co-operation with LHA's internal auditors where you wish to rely on their assurance work when planning the statutory audit. (This service is being tendered at the same time to separate organisation in line with our Financial Regulations) - Submission of accounts to company's house for DGH. 3.1.7. In addition, we may require the external auditor to provide expert professional advice and guidance on: - Corporation Tax issues affecting the Association and the Subsidiary. - VAT issues. - Other relevant taxation issues, for example, PAYE/NI, Capital Gains Tax etc.

Renewal: Further 2 years (24 months) after the initial 3 years (36 months)

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-r6ebe6-0000794983
Publication Source
Public Contracts Scotland
Latest Notice
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=APR527290
Current Stage
Tender
All Stages
Tender

Procurement Classification

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

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

72 - IT services: consulting, software development, Internet and support

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

90 - Sewage, refuse, cleaning and environmental services

CPV Codes

66171000 - Financial consultancy services

72221000 - Business analysis consultancy services

79212000 - Auditing services

79212100 - Financial auditing services

90714400 - Activity specific environmental auditing services

Notice Value(s)

Tender Value
£81,000 Under £100K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
1 Apr 202510 months ago
Submission Deadline
4 Jul 2025Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
LOREBURN HOUSING ASSOCIATION
Contact Name
Not specified
Contact Email
tonym@loreburn.org.uk
Contact Phone
+44 1387321300

Buyer Location

Locality
DUMFRIES
Postcode
DG1 2JB
Post Town
Dumfries and Galloway
Country
Scotland
Major Region (ITL 1)
TLM Scotland
Basic Region (ITL 2)
TLM9 Southern Scotland
Small Region (ITL 3)
TLM92 Dumfries and Galloway
Delivery Location
TLM92 Dumfries and Galloway
Local Authority
Dumfries and Galloway
Electoral Ward
Nith
Westminster Constituency
Dumfries and Galloway

Further Information

Notice Documents

  • https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=APR527290
    External Audit - 1.1. Loreburn Housing Association (LHA), a Registered Social Landlord, is looking for a firm of registered Auditors to carry out its External Audit services for a period of three years from Financial Years 2026/30 onwards, with a potential to extend this for a further 2 years. 1.2. The External Audit service will provide the LHA Management Committee with an independent and objective opinion on the financial statements in accordance with the relevant legal and regulatory requirements and International Standards of Auditing. The audit will also provide the Management Committee with a view on internal controls, governance arrangements, and risk management by measuring and evaluating their effectiveness in supporting LHA's corporate objectives. In addition, the successful Auditor may be engaged from time to time by LHA to perform ad hoc assignments. 1.3. The external audit firm may also be invited to provide certain management consultancy services as agreed. Applicable daily rates for specialist consultancy staff should be provided. To avoid potential conflicts of interest, the Association wishes to specifically exclude the successful external audit firm from undertaking certain consultancy assignments on their behalf, for example internal audit. 1.4. LHA forms part of the Loreburn Group. There is one associated company of LHA - Dumfries and Galloway Home Limited (DGH) - SC304439. The board of this company also requires the services of a firm of registered Auditors to carry out its External Audit services and Corporate Tax services for a period of three years from Financial Years 2025/26 onwards, with a potential to extend this for a further 2 years and this also forms part of this tender. It is envisaged that the same firm of Auditors will act for both entities.

Open Contracting Data Standard (OCDS)

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