---
title: "Research Services - Investor use of structured company data"
ocid: "ocds-b5fd17-bd72fa20-228c-419b-ba40-a5e129c8ba09"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-bd72fa20-228c-419b-ba40-a5e129c8ba09"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-bd72fa20-228c-419b-ba40-a5e129c8ba09.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-bd72fa20-228c-419b-ba40-a5e129c8ba09.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "THE FINANCIAL REPORTING COUNCIL LIMITED"
published: "2023-07-31"
---

# Research Services - Investor use of structured company data

Buyer: THE FINANCIAL REPORTING COUNCIL LIMITED  
Current stage: Award  
OCID: ocds-b5fd17-bd72fa20-228c-419b-ba40-a5e129c8ba09

[View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-bd72fa20-228c-419b-ba40-a5e129c8ba09)  
[Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-bd72fa20-228c-419b-ba40-a5e129c8ba09.json)

## Summary

The Financial Reporting Council has awarded a contract for Research Services on Investor use of structured company data. The project aims to understand how investors utilise structured data and XBRL reports. The contract has a minimum value of £35,000, a total value of £40,000, and commenced on 31st July 2023, ending on 31st October 2023. This opportunity falls under the category of Research and development services and related consultancy services.

This tender offers opportunities for businesses, particularly those in research and consultancy services, to engage with the Financial Reporting Council. Small and medium-sized enterprises (SMEs) and voluntary, community, and social enterprises (VCSEs) are well-suited to compete for this contract. Businesses interested in data analysis, financial reporting, and XBRL technology can benefit from participating in this procurement process that prioritises access, cost-efficiency, and data quality.

## Notice

****THIS IS A CONTRACT AWARD NOTICE**** ABOUT THE FRC 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. ABOUT THE PROJECT Historically, investors and others looking to obtain financial and non-financial data about companies in bulk had to compile it from unstructured PDF reports or pay for access to third-party databases. However, in recent years, companies have increasingly been required to report in machine-readable formats, making structured data publicly available. The United Kingdom has mandated the use of eXtensible Business Reporting Language (XBRL) for corporate tax returns. In 2021 the XBRL requirements were extended for listed companies to include consolidated financial statements. A requirement to use XBRL in filings to Companies House is expected in future. As XBRL reporting requirements continue to evolve and are extended to new reporting areas (for example in sustainability-related data), it is important for regulators to understand how XBRL data is actually being used by investors, and how this compares to their use of other sources of structured data. This will allow regulators to identify the barriers to wider usage and opportunities for improving accessibility and efficiency. Unfortunately, there is little contemporary and direct evidence on the use of the XBRL data in practice. Existing research is based mainly on 'indirect' studies, while the gathering of direct evidence has been rather limited. The aim of this research project is to answer the following questions: 1. What attributes do investors value most in choosing a source for structured company data - for example: ease of access, cost, timeliness, assurance, data quality etc.? 2. In practice, are investors using information from annual reports in XBRL format? a. If so, how are they accessing and using it? For example, are they accessing the XBRL data directly or through an intermediary? How does it flow into their analysis? b. If not, what are the main barriers to the use of XBRL data and what attributes is the XBRL data lacking? Which other sources of structured data do they use instead (for example commercial platforms providing proprietary structured data)? This research project would principally feed into wider FRC Lab work on XBRL use by investors. 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/3d39b60f-a613-475e-b1dd-238436c7044a |
| 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 | 31 Jul 2023 |
| Submission deadline | 29 Jun 2023 |
| Future notice date | Not specified |
| Award date | 18 Jul 2023 |
| Contract period | 30 Jul 2023 - 31 Oct 2023 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £40,000 |
| Lots value | Not specified |
| Awards value | £39,950 |
| 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 | CORE DATA 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

- 31 Jul 2023 at 16:21 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/3d39b60f-a613-475e-b1dd-238436c7044a
- 13 Jun 2023 at 13:55 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/e9582943-f10f-45db-89af-5a53af163801

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/3d39b60f-a613-475e-b1dd-238436c7044a
  31st July 2023 - Awarded contract notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/e9582943-f10f-45db-89af-5a53af163801
  13th June 2023 - Opportunity notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/d92b6c53-96a2-4df4-a760-e6eecacc86c9
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/200ad8c9-f308-46ff-95ac-619764058b52

## Notice URLs

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

## 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-bd72fa20-228c-419b-ba40-a5e129c8ba09. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-bd72fa20-228c-419b-ba40-a5e129c8ba09.json.