---
title: "Research into the challenges faced by SMEs in relation to audit and corporate reporting"
ocid: "ocds-b5fd17-2905acc8-c009-4f8c-b291-0a2b0ef3f2c6"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-2905acc8-c009-4f8c-b291-0a2b0ef3f2c6"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-2905acc8-c009-4f8c-b291-0a2b0ef3f2c6.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-2905acc8-c009-4f8c-b291-0a2b0ef3f2c6.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "THE FINANCIAL REPORTING COUNCIL LIMITED"
published: "2025-04-10"
---

# Research into the challenges faced by SMEs in relation to audit and corporate reporting

Buyer: THE FINANCIAL REPORTING COUNCIL LIMITED  
Current stage: Award  
OCID: ocds-b5fd17-2905acc8-c009-4f8c-b291-0a2b0ef3f2c6

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## Summary

The Financial Reporting Council (FRC), located in London, has awarded a contract titled "Research into the challenges faced by SMEs in relation to audit and corporate reporting." The contract, which falls under the industry category of research and development services and related consultancy services (CPV code: 73000000), was awarded to IFF Research Limited. The procurement process was conducted using a selective method, specifically a call-off from a dynamic purchasing system. This award pertains to the tender with ID FRC2025-031, and the contract period is from April 8, 2025, to September 30, 2025. The tender period ended on March 27, 2025, with the contract award notice published on April 10, 2025. The contract's value is £95,000 GBP, with the awarded amount being £93,927.75 GBP.

This tender presents significant opportunities for businesses operating within the research and development sector, particularly those specialising in consultancy services related to corporate governance and audit practices. SMEs and voluntary, community, and social enterprises (VCSEs) are particularly suited for this engagement due to the FRC's focus on understanding SME challenges. The insights gained through this research could enhance the FRC's ability to support SMEs, creating a favourable business environment. Companies with expertise in financial audit research, corporate reporting, and audit quality standards will find this project highly relevant and beneficial for expanding their services and contributing valuable knowledge to the FRC’s objectives.

## 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. As the Competent Authority for audit in the UK, we set auditing and ethical standards and monitor and enforce audit quality. The purpose of the FRC is to serve the public interest and support UK economic growth by upholding high standards of corporate governance, corporate reporting, audit and actuarial work. 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. The FRC were seeking Research Services into the challenges faced by SMEs in relation to audit and corporate reporting. This research project aims to allow the FRC to build a greater understanding of the challenges affecting SMEs and the decisions they make about financial audits. Additional information: THIS IS A CONTRACT AWARD NOTICE The FRC can extend the Contract for the Extension Period by giving the Supplier no less than 3 Months' written notice before the Contract expires.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/2d96bfc6-7bc5-4e14-811b-962773cc95f2 |
| Notice type | Award Notice |
| Procurement type | Dynamic |
| Procurement category | Services |
| Procurement method | Selective |
| Procurement method details | Call-off from a dynamic purchasing system |
| Tender suitability | SME, VCSE |
| Awardee scale | SME |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 10 Apr 2025 |
| Submission deadline | 27 Mar 2025 |
| Future notice date | Not specified |
| Award date | 6 Apr 2025 |
| Contract period | 7 Apr 2025 - 30 Sep 2025 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £95,000 |
| Lots value | Not specified |
| Awards value | £93,927 |
| 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 | East London |
| Postcode | E14 9GE |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI4 Inner London - East |
| ITL 3 | TLI42 Tower Hamlets |
| Local authority | Tower Hamlets |
| Electoral ward | Blackwall & Cubitt Town |
| Westminster constituency | Poplar and Limehouse |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | IFF RESEARCH |

## CPV Codes

### Divisions

- 73 - Research and development services and related consultancy services

### Codes

- 73000000 - Research and development services and related consultancy services

## Release History

- 10 Apr 2025 at 08:50 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/2d96bfc6-7bc5-4e14-811b-962773cc95f2

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/2d96bfc6-7bc5-4e14-811b-962773cc95f2
  10th April 2025 - Awarded contract notice on Contracts Finder

## Notice URLs

- https://www.frc.org.uk/

## Provenance

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