--- title: "LPFA Internal Audit Services - Contracts Finder Notice" ocid: "ocds-b5fd17-d6378701-07ef-4253-b44a-84ed22895465" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-d6378701-07ef-4253-b44a-84ed22895465" markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-d6378701-07ef-4253-b44a-84ed22895465.md" json_url: "https://d3tenders.com/contract/ocds-b5fd17-d6378701-07ef-4253-b44a-84ed22895465.json" source: "Contracts Finder" current_stage: "Tender" buyer: "LONDON PENSIONS FUND AUTHORITY" published: "2020-02-17" --- # LPFA Internal Audit Services - Contracts Finder Notice Buyer: LONDON PENSIONS FUND AUTHORITY Current stage: Tender OCID: ocds-b5fd17-d6378701-07ef-4253-b44a-84ed22895465 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-d6378701-07ef-4253-b44a-84ed22895465) [Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-d6378701-07ef-4253-b44a-84ed22895465.json) ## Summary The London Pensions Fund Authority (LPFA) is conducting a tender for Internal Audit Services, with the opportunity titled "LPFA Internal Audit Services - Contracts Finder Notice." This procurement falls under the services industry category, specifically focusing on internal audit services. The tender process is currently active and is being conducted through an open procurement method. The deadline for submission is 9th March 2020, and the contract is expected to commence on 1st April 2020, lasting until 31st March 2023. The estimated contract value ranges from £80,000 to £100,000 per annum, excluding VAT, with the delivery address located in London, United Kingdom. This tender presents significant growth opportunities for businesses specialising in internal audit services, particularly those that can offer comprehensive solutions in compliance, governance, and risk management. Firms equipped to deliver high-quality audits and maintain strict internal controls will be well-suited to compete, and SMEs are particularly encouraged to participate. The partnerships required with external auditors and the potential for consultancy services also suggest avenues for collaboration, making this a valuable opportunity for firms aiming to expand their offerings and client base within the public sector. ## Notice The London Pensions Fund Authority (LPFA) is required to have an internal audit function under the accounts and audit regulations. These regulations place responsibility on the authority for maintaining an adequate and effective internal audit service. The LPFA Audit and Risk Committee is responsible to the LPFA Board for ensuring that there is an adequate system of internal control, and that it is maintained and complied with on a routine basis. The lead officer responsible for maintaining the system of internal control is the Managing Director of LPFA, although the LPFA acknowledges that internal controls are a collective responsibility with the LPFA Audit & Risk Committee and the Section 151 Officer also has responsibility in this area. The LPFA will prepare an Annual Governance Statement to review the effectiveness of the system of internal control, and this is signed by the LPFA Managing Director and the Chair of the LPFA Audit & Risk Committee. This is supported by a statement from the Head of the Internal Audit function on the effectiveness of the system of internal control. The LPFA Audit & Risk Committee has the responsibility for reviewing the effectiveness of the internal audit function. The Committee will receive regular reports from the internal audit provider, and the senior internal auditor will attend the Audit & Risk Committee meetings. The Head of Internal Audit, to be provided by the supplier, will be required to work with other elements of the audit services. This includes the LPFA's external auditors (currently Grant Thornton) but may also require working with the internal and external audit service of Local Pensions Partnerships, (currently Deloitte internal and Grant Thornton external). LPFA may also make use of external consultants to support organisational development. The internal audit function may identify areas for external consultancy to advise on, and support implementation of, new systems following recommendations from external consultants. The estimated value of the contract is PS80,000 to PS100,000 (excluding VAT) per year. Further details about the services required are set out in the invitation to tender. ________________________________________ ## Key Details | Field | Value | | --- | --- | | Publication source | Contracts Finder | | Latest notice | https://www.contractsfinder.service.gov.uk/Notice/6555eef6-ae91-4dfb-8684-67a0686c971c | | Notice type | Tender Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Open | | Procurement method details | Open procedure (above threshold) | | Tender suitability | SME | | Awardee scale | Not specified | | All stages | Tender | ## Dates | Field | Value | | --- | --- | | Publication date | 17 Feb 2020 | | Submission deadline | 9 Mar 2020 | | Future notice date | Not specified | | Award date | Not specified | | Contract period | 31 Mar 2020 - 31 Mar 2023 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £100,000 | | 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 | LONDON PENSIONS FUND AUTHORITY | | Locality | LONDON | | Post town | South East London | | Postcode | SE1 0LL | | Country | England | | ITL 1 | TLI London | | ITL 2 | TLI4 Inner London - East | | ITL 3 | TLI44 Lewisham and Southwark | | Local authority | Southwark | | Electoral ward | Borough & Bankside | | Westminster constituency | Bermondsey and Old Southwark | | Delivery location | TLI London | ## CPV Codes ### Divisions - 79 - Business services: law, marketing, consulting, recruitment, printing and security ### Codes - 79212200 - Internal audit services ## Release History - 17 Feb 2020 at 16:26 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/6555eef6-ae91-4dfb-8684-67a0686c971c ## Documents - https://www.contractsfinder.service.gov.uk/Notice/6555eef6-ae91-4dfb-8684-67a0686c971c 17th February 2020 - Opportunity notice on Contracts Finder - https://www.contractsfinder.service.gov.uk/Notice/Attachment/45f3cf31-977f-42b2-9e95-1b515627c698 LPFA _Internal Audit Services Tender - 17.02.20 - https://www.contractsfinder.service.gov.uk/Notice/Attachment/504fa5b4-d626-4bcc-844d-39fe315696a0 Annex A_Statement of Accounts 2018_19 - https://www.contractsfinder.service.gov.uk/Notice/Attachment/9b19de84-2819-42a7-b464-6ea3de342892 Annex B_Annual Reports and Accounts 2018_19 - https://www.contractsfinder.service.gov.uk/Notice/Attachment/a6e7e500-6f85-4e1f-a832-70f9c0da25d4 Annex C_Strategic Policy Statement_2019_22 - https://www.contractsfinder.service.gov.uk/Notice/Attachment/dd95530a-210f-4909-8bb3-1bb69c3362c1 Annex D_Medium Term Financial Plan - https://www.contractsfinder.service.gov.uk/Notice/Attachment/a0238789-8d8a-43cc-a496-d119fc24e1b9 Appendix 4_Company Mandatory Policies - https://www.contractsfinder.service.gov.uk/Notice/Attachment/3d35684a-16e6-493f-bd12-ec6d6b98d58c LPFA Internal Audit Plan (Year 2 and 3) ## Notice URLs - http://www.lpfa.org.uk/ ## Provenance This Markdown file is an alternate public rendering of the D3 Tenders contract record. 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