--- title: "FORS Financial Audit" ocid: "ocds-b5fd17-d9c7e9d0-1473-42a9-8bc9-fde02000476a" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-d9c7e9d0-1473-42a9-8bc9-fde02000476a" markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-d9c7e9d0-1473-42a9-8bc9-fde02000476a.md" json_url: "https://d3tenders.com/contract/ocds-b5fd17-d9c7e9d0-1473-42a9-8bc9-fde02000476a.json" source: "Contracts Finder" current_stage: "Tender" buyer: "TRANSPORT FOR LONDON" published: "2019-05-22" --- # FORS Financial Audit Buyer: TRANSPORT FOR LONDON Current stage: Tender OCID: ocds-b5fd17-d9c7e9d0-1473-42a9-8bc9-fde02000476a [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-d9c7e9d0-1473-42a9-8bc9-fde02000476a) [Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-d9c7e9d0-1473-42a9-8bc9-fde02000476a.json) ## Summary The Transport for London (TfL) is currently conducting a tender for the "FORS Financial Audit" with a focus on accounting, auditing, and fiscal services. This procurement process is in the active stage and will conclude on the 21st of June 2019. The contract, valued at £100,000, is set to commence on the 10th of July 2019 and will run until the 8th of November 2020. The audit will assess various financial aspects related to the FORS concession for the financial year ending 31 March 2019, with service delivery expected to occur within the London region. This tender presents significant opportunities for businesses, particularly those in the accounting and financial advisory sectors. SMEs with expertise in financial audits, management accounts scrutiny, and fiscal analysis would be well-suited to compete. The successful bidder will be expected to provide comprehensive reports and participate in consultations with TfL, potentially leading to further engagements and collaborations within public procurement frameworks. ## Notice TfL is seeking the services of a financial advisor to audit the management accounts relating to the FORS concession for the financial year ending 31 March 2019, for each of the FCP organisations. The review requires a level of testing, enquiry and analysis that provides TfL with confidence that the amounts presented in each entity's management accounts are attributable to the FORS business, In particular TfL is interested in the following: a. The total and breakdown of sources of income to each organisation within the FCP. We want to identify what money has come to each organisation including but not limited to audits, subsidies, sponsorship, associateships, affinity partners, external funding and consultant charge out profit. b. The total and breakdown of sources of expenditure incurred by each organisation within the FCP. We want to identify what has been spent on running FORS including but not limited to Project Management, Audits, Communications and Governance. c. The consultant charge out rates of staff and an overview of any variances against obtained TUPE data. d. A reconciliation of the profit sharing mechanism contained within the concession agreement in light of the financial information available, with the profit sharing calculation to be provided by AECOM. This shall cover any variances from the Earnings Before Interest and Tax (EBIT) between the bid and actual calculation, d. Meetings with the FORS Partnership organisations to go through the management accounts, to verify any systems and processes, and to gather further information as required. e. Fortnightly update meetings (or conference calls if more appropriate) with TfL to discuss progress and to resolve any issues or questions. f. Produce a report describing the scope of work, the key findings from the audit, any limitations to the audit and highlighting any key risks to, or opportunities for, TfL, from the audit. Five copies of the audit report along with an electronic copy shall be provided to TfL upon completion. All documentation must be Arial 12pt. Any raw numerical data used must be provided in Excel format. TfL is not seeking a financial statement audit, an audit opinion on any FORS Financial Statements or a profit share statement which are currently certified by AECOM's auditor. ## Key Details | Field | Value | | --- | --- | | Publication source | Contracts Finder | | Latest notice | https://www.contractsfinder.service.gov.uk/Notice/d5839b34-f7ef-4b39-a3b1-93049fa4dd81 | | Notice type | Tender Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Not Specified | | Procurement method details | Other - | | Tender suitability | SME | | Awardee scale | Not specified | | All stages | Tender | ## Dates | Field | Value | | --- | --- | | Publication date | 22 May 2019 | | Submission deadline | 21 Jun 2019 | | Future notice date | Not specified | | Award date | Not specified | | Contract period | 9 Jul 2019 - 8 Nov 2020 | | 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 | TRANSPORT FOR LONDON | | Locality | LONDON | | Post town | South West London | | Postcode | SW1H 0BD | | Country | England | | ITL 1 | TLI London | | ITL 2 | TLI3 Inner London - West | | ITL 3 | TLI35 Westminster and City of London | | Local authority | Westminster | | Electoral ward | St James's | | Westminster constituency | Cities of London and Westminster | | Delivery location | TLI London | ## CPV Codes ### Divisions - 79 - Business services: law, marketing, consulting, recruitment, printing and security ### Codes - 79200000 - Accounting, auditing and fiscal services ## Release History - 22 May 2019 at 11:00 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/d5839b34-f7ef-4b39-a3b1-93049fa4dd81 ## Documents - https://www.contractsfinder.service.gov.uk/Notice/d5839b34-f7ef-4b39-a3b1-93049fa4dd81 22nd May 2019 - Opportunity notice on Contracts Finder ## Notice URLs - https://tfl.gov.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-d9c7e9d0-1473-42a9-8bc9-fde02000476a. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-d9c7e9d0-1473-42a9-8bc9-fde02000476a.json.