---
title: "Qualitative research with audit committee chairs on audit quality"
ocid: "ocds-b5fd17-823c15fd-c4b3-44e4-baf7-8d3a348ad7a5"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-823c15fd-c4b3-44e4-baf7-8d3a348ad7a5"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-823c15fd-c4b3-44e4-baf7-8d3a348ad7a5.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-823c15fd-c4b3-44e4-baf7-8d3a348ad7a5.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "THE FINANCIAL REPORTING COUNCIL LIMITED"
published: "2021-03-31"
---

# Qualitative research with audit committee chairs on audit quality

Buyer: THE FINANCIAL REPORTING COUNCIL LIMITED  
Current stage: Award  
OCID: ocds-b5fd17-823c15fd-c4b3-44e4-baf7-8d3a348ad7a5

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## Summary

The Financial Reporting Council Limited has recently completed a public procurement process for a tender titled "Qualitative research with audit committee chairs on audit quality." This project falls under the research and development services category and was located in London, England. The procurement process was carried out using the open method, specifically an open procedure below the threshold, concluding with contract awards on February 25, 2021. The contract period commenced on March 12, 2021, and concluded on August 13, 2021, with a total contract value of £175,000, including potential future research.

This tender presents a significant opportunity for businesses, particularly small and medium-sized enterprises (SMEs) and voluntary, community, and social enterprises (VCSEs) specialising in qualitative research and consultancy services. Companies that have expertise in conducting in-depth interviews and analysis of audit quality will find this tender aligns well with their capabilities. With the possibility of additional research being commissioned by the FRC in future years, interested businesses should consider engaging with this authority to establish ongoing collaboration and growth opportunities in the field of audit quality and corporate governance.

## Notice

**THIS IS A CONTRACT AWARD NOTICE - THIS TENDER IS CLOSED** The Financial Reporting Council sets the UK Corporate Governance and UK Stewardship Codes; sets UK standards for accounting and actuarial work; monitors and takes action to promote the quality of corporate reporting; and operates independent enforcement arrangements for accountants and actuaries. As the competent authority for audit in the UK the FRC sets auditing and ethical standards and monitors and enforces audit quality. The FRC works in the public interest. Our work is aimed at investors and others who rely on company reports, audit and high-quality risk management. The research project objective is to obtain qualitative research with Audit Committee Chairs (ACCs) of Public Interest Entities (PIEs) - a rich, in-depth understanding of ACCs' views on audit quality. This will build on similar research undertaken in 2020. The FRC does not anticipate tender bids over PS50,000 excluding VAT Note: The FRC may in future decide to repeat this research in future years to provide an over-time comparison. If the FRC takes up this option, it will do so before the end of 2025 (and the total expenditure including repeat(s) will be capped at no more than PS175,000). The overarching objective of the project is to provide the FRC with a rich understanding of ACCs' views on, and approach to, audit quality. This may include: * ACC's views on the key drivers of audit quality * What does a good/bad audit look like to an ACC? * Selection of auditors / tender process * Audit planning * Considerations of quality during the audit and post-audit, including ACC's views of the impact, if any, of audit firm culture * How ACC's use the results of AQR inspections to drive improved audit quality * How ACC's satisfy themselves as to the independence and suitability of their auditor * How ACC's assess the work of their committees The above list of questions is not exhaustive. ** This is a summary only ** Additional information: ** THIS OPPORTUNITY IS CLOSED. THIS IS A CONTRACT AWARD NOTICE**

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/b95fa42a-cbda-4e23-b4cf-5f329f3d5790 |
| 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 | Large |
| All stages | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 31 Mar 2021 |
| Submission deadline | 17 Feb 2021 |
| Future notice date | Not specified |
| Award date | 25 Feb 2021 |
| Contract period | 12 Mar 2021 - 13 Aug 2021 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £50,000 |
| Lots value | Not specified |
| Awards value | £175,000 |
| 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 | YOUGOV |

## CPV Codes

### Divisions

- 73 - Research and development services and related consultancy services

### Codes

- 73000000 - Research and development services and related consultancy services

## Release History

- 31 Mar 2021 at 15:04 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/b95fa42a-cbda-4e23-b4cf-5f329f3d5790
- 25 Jan 2021 at 12:41 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/5da8e90d-6ff5-48a7-97ef-60aeea4122ac

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/b95fa42a-cbda-4e23-b4cf-5f329f3d5790
  31st March 2021 - Awarded contract notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/5da8e90d-6ff5-48a7-97ef-60aeea4122ac
  25th January 2021 - Opportunity notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/49b99143-d9a8-4656-b346-39f0e8af14b5
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/8fb55def-04e1-480c-95c9-3e4ff05d3baa

## 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-b5fd17-823c15fd-c4b3-44e4-baf7-8d3a348ad7a5. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-823c15fd-c4b3-44e4-baf7-8d3a348ad7a5.json.