---
title: "XBRL taxonomies IFRS 17 Insurance Contracts (Provision of consulting & advisory services)"
ocid: "ocds-b5fd17-a45a3aa2-50e2-4e16-ba7e-e7f3897bbcc8"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-a45a3aa2-50e2-4e16-ba7e-e7f3897bbcc8"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-a45a3aa2-50e2-4e16-ba7e-e7f3897bbcc8.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-a45a3aa2-50e2-4e16-ba7e-e7f3897bbcc8.json"
source: "Contracts Finder"
current_stage: "Tender"
buyer: "THE FINANCIAL REPORTING COUNCIL LIMITED"
published: "2022-04-29"
---

# XBRL taxonomies IFRS 17 Insurance Contracts (Provision of consulting & advisory services)

Buyer: THE FINANCIAL REPORTING COUNCIL LIMITED  
Current stage: Tender  
OCID: ocds-b5fd17-a45a3aa2-50e2-4e16-ba7e-e7f3897bbcc8

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## Summary

The Financial Reporting Council Limited (FRC) recently awarded a contract for consulting and advisory services related to the development of XBRL taxonomies for IFRS 17 Insurance Contracts. This procurement process, classified under accounting services, carried a total contract value of £50,000 and took place within London. The initial tender phase concluded on 6th May 2022, with the contract period starting from 16th May 2022 and running until 18th October 2022. The procurement method was an open procedure, designed to facilitate competitive bidding, with the FRC pursuing outcomes that enhance corporate governance and transparency within the UK market.

This opportunity may appeal to businesses specialising in accounting and consulting services, particularly those with expertise in financial reporting and regulatory compliance. Small and medium-sized enterprises (SMEs) could significantly benefit from this tender, as engagement with the FRC not only provides a platform for professional collaboration but also bolsters credibility within the industry. Firms aiming to expand their market presence in public sector contracts should consider similar future opportunities offered by the FRC to foster business growth.

## Notice

The purpose of the Financial Reporting Council (FRC) is to serve the public interest by setting high standards of corporate governance, reporting and audit and by holding to account those responsible for delivering them. Delivering on our purpose will bring a variety of benefits. Improved outcomes, created by each of our regulatory activities are shown in the circle; each of which can positively reinforce others in the circle and contribute to overall benefits for a wide range of stakeholders such as greater transparency, increased trust in UK markets and a lower cost of capital for companies. Our direct stakeholders include companies, institutional investors, auditors, actuaries, accountants and their respective professional bodies. Our indirect stakeholders include retail shareholders, suppliers, employees, customers, communities, pensioners and savers, and financial institutions, all of whom have an interest in the health of companies and other organisations within our existing and future regulatory scope and in the success of the UK corporate sector as a whole. The FRC has a requirement for the development of content for the FRC's XBRL taxonomies relating to the implementation of IFRS 17 Insurance Contracts. This is to facilitate the mandatory requirement of full digital tagging of any standards to HMRC. To fulfil the requirement for the development of content for the FRC's XBRL taxonomies relating to the implementation of IFRS 17 Insurance Contracts the FRC are seeking to engage specialist input. Please see attached ITT for further information. Additional information: Notes:- * Download and review the documents; * Observe the timelines and tender process * Register your interest in this opportunity by email to procurement@frc.org.uk * You will need to register your interest in this opportunity to receive the Q&A responses. The FRC reserves the right to * extend the contract by an additional 12 month * to seek additional Services of the same nature under the contract (whilst capping the aggregated contract spend to no more than PS165,000)

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/beff40e8-70f1-486f-97e8-e3c9b4c27b5e |
| Notice type | Tender Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure (below threshold) |
| Tender suitability | SME |
| Awardee scale | Not specified |
| All stages | Tender |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 29 Apr 2022 |
| Submission deadline | 6 May 2022 |
| Future notice date | Not specified |
| Award date | Not specified |
| Contract period | 15 May 2022 - 18 Oct 2022 |
| Recurrence | Not specified |

## Values

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

## Status

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

## CPV Codes

### Divisions

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

### Codes

- 79211000 - Accounting services
- 79400000 - Business and management consultancy and related services
- 79900000 - Miscellaneous business and business-related services

## Release History

- 29 Apr 2022 at 13:37 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/beff40e8-70f1-486f-97e8-e3c9b4c27b5e

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/beff40e8-70f1-486f-97e8-e3c9b4c27b5e
  29th April 2022 - Opportunity notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/84cbde1d-799f-404a-9d9d-f556067fd300
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/e4ba14d0-22d2-4dd5-a595-08fd4309eb48

## Provenance

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