---
title: "Audit and Assurance Services for Income Contingent Repayment Student Loans Monetisation Programme"
ocid: "ocds-b5fd17-02a348cb-af11-41c9-87f6-706da399acad"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-02a348cb-af11-41c9-87f6-706da399acad"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-02a348cb-af11-41c9-87f6-706da399acad.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-02a348cb-af11-41c9-87f6-706da399acad.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "DEPARTMENT FOR EDUCATION"
published: "2025-06-17"
---

# Audit and Assurance Services for Income Contingent Repayment Student Loans Monetisation Programme

Buyer: DEPARTMENT FOR EDUCATION  
Current stage: Award  
OCID: ocds-b5fd17-02a348cb-af11-41c9-87f6-706da399acad

[View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-02a348cb-af11-41c9-87f6-706da399acad)  
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## Summary

The Department for Education has awarded a contract for Audit and Assurance Services for the Income Contingent Repayment Student Loans Monetisation Programme. The procurement process was conducted under the Crown Commercial Service's Audit & Assurance Services framework, specifically Lot 4: Other Independent Assurance, using a selective method. BDO LLP has been selected as the supplier. The contract commenced on 23rd May 2025 and will run until 22nd September 2031, with break clauses on 31st January 2026 and 30th September 2028. This award, published on 17th June 2025, covers auditing services across various locations including the United Kingdom, Europe, and other international territories, under the industry category of Auditing Services (CPV: 79212000).

This tender presents significant opportunities for growth, especially for businesses skilled in complex financial auditing and assurance services. Given the contract's substantial duration and monetary value of £719,075 GBP, firms with expertise in auditing financial models and those that can provide detailed compliance services annually will be well-suited to meet the requirements. The framework's support for SME and VCSE organisations further encourages diverse business participation, fostering opportunities for smaller and socially-conscious enterprises to engage in high-value contracts within the educational sector.

## Notice

Following the 2008 Sale of Student Loans Act, the Secretary of State for Education assumed the responsibilities of Master Servicer for the sold loans agreements and is therefore responsible for sourcing a range of audits to ensure compliance. This is the Department's Contract Award Notice for the re-procurement of an Audit and Assurance Provider to deliver two related workstreams annually: - Assumptions AUP Report covering both the Assumptions AUP (one report to cover both sales). It will include auditing the Transition Matrices (TMs) used within the Earnings Module and Payment Adjustment Factors (PAFs) used in the Re-payments Module. - A Model Audit Report (one report per sale): Audit of the complex financial model used to forecast student loan cashflows. This should focus on any changes made to the model annually. It will include audit of any methodological changes, analytical review of TERM to make sure the model reacts to economic variations in an expected manner, and audit of the Liabilities Module. The type of methodological change could include (but not be limited to): a change in the indexation of a Note in the Liabilities module, a change in the source macroeconomic variables, how we forecast individual earnings. The agreement will last from 23rd May 2025 until 22nd September 2031, with two break clauses on the 31st January 2026 and 30th September 2028. This contract was competed via the Crown Commercial Service's Audit & Assurance Services (A&AS) framework (RM6188), Lot 4: Other Independent Assurance.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/89563c92-51d6-426b-ae42-86ed8dda3e30 |
| Notice type | Award Notice |
| Procurement type | Framework |
| Procurement category | Services |
| Procurement method | Selective |
| Procurement method details | Call-off from a framework agreement |
| Tender suitability | SME, VCSE |
| Awardee scale | Large |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 17 Jun 2025 |
| Submission deadline | 5 Feb 2025 |
| Future notice date | Not specified |
| Award date | 22 May 2025 |
| Contract period | 22 May 2025 - 22 Sep 2031 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £719,075 |
| Lots value | Not specified |
| Awards value | £719,075 |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Not specified |
| Awards status | Active |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | DEPARTMENT FOR EDUCATION |
| Locality | LONDON |
| Post town | South West London |
| Postcode | SW1P 3BT |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI3 Inner London - West |
| ITL 3 | TLI35 Westminster and City of London |
| Local authority | Westminster |
| Electoral ward | St James's |
| Westminster constituency | Cities of London and Westminster |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | BDO |

## CPV Codes

### Divisions

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

### Codes

- 79212000 - Auditing services

## Release History

- 17 Jun 2025 at 11:38 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/89563c92-51d6-426b-ae42-86ed8dda3e30

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/89563c92-51d6-426b-ae42-86ed8dda3e30
  17th June 2025 - Awarded contract notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/4a4e809f-c76b-4e15-a214-6a8d4d59193b
  Redacted Contract Documents
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/22934702-4d59-4643-b2aa-d0401a080865
  Redacted Contract Documents
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/36309076-5ae8-44fe-a43e-9309b9ddf6f4
  Redacted Contract Documents
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/d9d6fc07-916b-4fcf-86ae-5ef8a5576434
  Redacted Contract Documents
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/df32fbeb-fcc6-4686-b7c6-58175334fdd9
  Redacted Contract Documents
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/5a343fdc-991b-4b67-b828-3b9ed5905722
  Redacted Contract Documents
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/39c075f8-2cc6-4f18-8358-fa5f84b0546c
  Redacted Contract Documents
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/38c34252-9947-4e56-8400-1966e1c6682c
  Redacted Contract Documents
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/867cce3c-cc66-44d8-964b-fd55b62bd606
  Redacted Contract Documents
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/0ac08a75-f257-4614-8aff-b463a8f3770f
  Redacted Contract Documents
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/40275b56-a3fb-433b-bed1-a9fb99df6380
  Redacted Contract Documents
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/d47bc6f7-4615-4ede-a6e5-ea71a8c6c905
  Redacted Contract Documents
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/b1a6ce00-6c2c-44aa-866d-0f4b8c909c9a
  Redacted Contract Documents
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/36913c0e-086c-4b73-8efa-bce822ce996d
  Redacted Contract Documents
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/13ec056a-6043-43b6-bed6-4beafdfb60ca
  Redacted Contract Documents
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/21480441-2063-4678-acad-4906e1cce388
  Redacted Contract Documents
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/82f66805-67d1-4c95-9521-6f3872c13768
  Redacted Contract Documents
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/8d18db40-2d2c-46f5-a498-21db257c64bd
  Redacted Contract Documents
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/d174e029-f99f-44c7-9ff8-8e2cb3144e12
  Redacted Contract Documents
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/9345301a-39ac-417d-b5ae-b2427627f6d9
  Redacted Contract Documents
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/30a0e0d1-f886-4994-99f9-bc11b705a3ef
  Redacted Contract Documents
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/f5e6f5c6-6fd5-427f-927e-7c70698f0c63
  Redacted Contract Documents

## Provenance

This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-02a348cb-af11-41c9-87f6-706da399acad. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-02a348cb-af11-41c9-87f6-706da399acad.json.