---
title: "Board Performance Review"
ocid: "ocds-b5fd17-089c74b4-76b2-43bc-bde7-f4c2546fa942"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-089c74b4-76b2-43bc-bde7-f4c2546fa942"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-089c74b4-76b2-43bc-bde7-f4c2546fa942.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-089c74b4-76b2-43bc-bde7-f4c2546fa942.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "THE FINANCIAL REPORTING COUNCIL LIMITED"
published: "2023-11-11"
---

# Board Performance Review

Buyer: THE FINANCIAL REPORTING COUNCIL LIMITED  
Current stage: Award  
OCID: ocds-b5fd17-089c74b4-76b2-43bc-bde7-f4c2546fa942

[View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-089c74b4-76b2-43bc-bde7-f4c2546fa942)  
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## Summary

The Financial Reporting Council Limited has awarded a contract for a Board Performance Review. The review will focus on assessing the effectiveness of the Board in various areas such as composition, decision-making processes, and roles of individual directors. The contract was awarded to Independent Audit Limited, with a total value of £64,000. The contract period is from 10th November 2023 to 1st June 2024.

This public procurement opportunity presents a chance for businesses specialised in performance review services, business consultancy, and related services to compete. The Financial Reporting Council seeks an independent external provider to conduct the review. Small and Medium Enterprises (SMEs) and Voluntary, Community, and Social Enterprise (VCSE) organisations are eligible to participate in this open procedure tender. Interested businesses need to observe the deadlines and tender process specified by the FRC procurement team.

## Notice

THIS IS A CONTRACT AWARD NOTICE The Financial Reporting Council (FRC) regulates auditors, accountants and actuaries and sets the UK's Corporate Governance and Stewardship Codes. We seek to promote transparency and integrity in business; our work is aimed at investors and others who rely on company accounts, audit, and high-quality risk management. As the Competent Authority for audit in the UK, the FRC sets auditing and ethical standards and monitors and enforces audit quality. Role of the Board The Board of the Financial Reporting Council (FRC) is made up of non-executive and executive directors and is collectively responsible for the long-term success of the FRC. All Board Members, including the CEO and Chairman, are appointed by the Secretary of State for Business and Trade. The Board's role is to provide strategic leadership of the FRC within a framework of prudent and effective controls which enables risk to be assessed and managed. The Board sets the FRC's strategic aims, ensures that the necessary financial and human resources are in place for the FRC to meet its objectives and reviews management performance. The Board also sets the FRC's values and culture and ensures that its obligations to its stakeholders and others are understood and met. All directors must act in what they consider to be the best interests of the FRC, consistent with their statutory duties. The Board delegates some of its responsibilities to its five Committees to carry out on its behalf. Further information about the FRC Board role and structure can be found on our website https://www.frc.org.uk/about-the-frc/structure-of-the-frc/frc-board The FRC is seeking an independent external Board effectiveness review provider to objectively assess the effectiveness of the Board. The review to focus on: * The composition and structure of the Board and its Committees. * The effectiveness of the Board and its Committees at agenda setting and forward planning to ensure efficient and effective meetings. * How the board and its committees support the Accounting Officer in meeting the requirements set out within Managing Public Money. * The decision-making processes of the Board and its Committees. * The quality and timeliness of the information and materials provided to the Board and its Committees. * The Board's role in strategy development. * The roles, responsibilities, and performance of each Committee and how they contribute to and support the Board. The interaction and collaboration between the Committees and the Board. This includes the dynamics and effectiveness of Board and Committee discussions, decision-making, and conflict resolution. * How the board's practices, relationships and culture compare with other Arm's Length Public Bodies. * The performance of individual directors, including the quality of their contribution and engagement. ***AWARD NOTICE*** Additional information: THIS IS A CONTRACT AWARD NOTICE. THIS TENDER HAS BEEN COMPLETED.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/604dee6a-621f-492a-b83a-81be18ecea54 |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure (below threshold) |
| Tender suitability | SME, VCSE |
| Awardee scale | SME |
| All stages | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 11 Nov 2023 |
| Submission deadline | 16 Oct 2023 |
| Future notice date | Not specified |
| Award date | 6 Nov 2023 |
| Contract period | 10 Nov 2023 - 1 Jun 2024 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £65,000 |
| Lots value | Not specified |
| Awards value | £64,000 |
| 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 | THE FINANCIAL REPORTING COUNCIL LIMITED |
| Locality | LONDON |
| Post town | Central London |
| Postcode | EC2Y 5AS |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI3 Inner London - West |
| ITL 3 | TLI35 Westminster and City of London |
| Local authority | City of London |
| Electoral ward | Bassishaw |
| Westminster constituency | Cities of London and Westminster |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | INDEPENDENT AUDIT |

## CPV Codes

### Divisions

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

### Codes

- 79313000 - Performance review services
- 79400000 - Business and management consultancy and related services

## Release History

- 11 Nov 2023 at 08:30 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/604dee6a-621f-492a-b83a-81be18ecea54
- 25 Sep 2023 at 09:50 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/83ab6744-a297-43ec-ab52-2eb5c7ebd758

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/604dee6a-621f-492a-b83a-81be18ecea54
  11th November 2023 - Awarded contract notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/83ab6744-a297-43ec-ab52-2eb5c7ebd758
  25th September 2023 - Opportunity notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/7279813c-b3cf-4982-91ab-51ef2fd9575c
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/280b293b-5675-4f03-8ba0-c6a61e1a6274

## Notice URLs

- http://www.frc.org.uk
- https://www.frc.org.uk/about-the-frc/structure-of-the-frc/frc-board

## 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-b5fd17-089c74b4-76b2-43bc-bde7-f4c2546fa942. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-089c74b4-76b2-43bc-bde7-f4c2546fa942.json.