--- title: "External Audit Services - Soft Market Engagement" ocid: "ocds-h6vhtk-030bf2" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-030bf2" markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-030bf2.md" json_url: "https://d3tenders.com/contract/ocds-h6vhtk-030bf2.json" source: "Find A Tender Service" current_stage: "Planning" buyer: "UNIVERSITY OF SOUTHAMPTON" published: "2022-01-17" --- # External Audit Services - Soft Market Engagement Buyer: UNIVERSITY OF SOUTHAMPTON Current stage: Planning OCID: ocds-h6vhtk-030bf2 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-h6vhtk-030bf2) [Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-030bf2.json) ## Summary The University of Southampton is initiating a planning stage for the procurement of External Audit Services through a soft market engagement process. This tender aims to gather insights from potential suppliers regarding the dynamics of the audit marketplace. The engagement is scheduled to take place via individual virtual meetings, with a communication notice set for 1 June 2022. The value of the contract is estimated at £800,000, and audits will cover the university's financial statements and compliance reports, specifically relating to various entities within higher education. This opportunity is well-suited for firms offering auditing services, particularly those with experience in the education sector. Businesses that specialise in statutory audit services and possess a strong understanding of compliance requirements for public interest entities will find this tender especially relevant. Engaging in this exercise can position suppliers to align their offerings with the university’s needs, potentially leading to long-term partnerships and growth within the higher education auditing market. ## Notice The University is looking to tender, in the near future, its requirement for a supplier to provide external audit services and would like to engage with the marketplace by means of discussions via individual virtual meetings to help enable the University to understand the dynamics of the current marketplace and to enable the opportunity for potential suppliers to ask us any questions or raise any issues directly with the people that matter - the day-to-day end users and owners of the future contract. This exercise is not a call for competition but engagement with the market to help inform our procurement approach in future. The University envisages the scope of the contract to include the below: * External audit of the annual consolidated financial statements of the University of Southampton; * External audit of the annual financial statements of relevant subsidiary companies; * External audit of the annual accounts for the University of Southampton Pension and Assurance Scheme (PASNAS); * Audits relating to the National College for Teaching and Learning, and the Teachers' Pension Scheme contributions and the Federal Family Education Loan Program Compliance report; * Supporting the University in complying with the reporting requirements of a Public Interest Entity and Financial Conduct Authority's Disclosure and Transparency Rules (DTR) in relation to the University's debt securities. For a University of the complexity and size of Southampton, the external auditor would need access to specialist audit skills, be familiar with specific higher education issues and bring relevant knowledge of the large business units operating within the University (e.g. academic faculties, catering, estates, library services etc.). The auditor must be aware of developments within Higher Education particularly where these may have mandatory applications to institutions and/or potentially have significant financial effects. ### Lot Information Lot 1 The University envisages the scope of the contract to include the below: * External audit of the annual consolidated financial statements of the University of Southampton; * External audit of the annual financial statements of relevant subsidiary companies; * External audit of the annual accounts for the University of Southampton Pension and Assurance Scheme (PASNAS); * Audits relating to the National College for Teaching and Learning, and the Teachers' Pension Scheme contributions and the Federal Family Education Loan Program Compliance report; * Supporting the University in complying with the reporting requirements of a Public Interest Entity and Financial Conduct Authority's Disclosure and Transparency Rules (DTR) in relation to the University's debt securities. For a University of the complexity and size of Southampton, the external auditor would need access to specialist audit skills, be familiar with specific higher education issues and bring relevant knowledge of the large business units operating within the University (e.g. academic faculties, catering, estates, library services etc.). The auditor must be aware of developments within Higher Education particularly where these may have mandatory applications to institutions and/or potentially have significant financial effects. ## Key Details | Field | Value | | --- | --- | | Publication source | Find A Tender Service | | Latest notice | https://www.find-tender.service.gov.uk/Notice/001369-2022 | | Notice type | Planning Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Not Specified | | Procurement method details | Not specified | | Tender suitability | Not specified | | Awardee scale | Not specified | | All stages | Planning | ## Dates | Field | Value | | --- | --- | | Publication date | 17 Jan 2022 | | Submission deadline | Not specified | | Future notice date | 31 May 2022 | | Award date | Not specified | | Contract period | Not specified | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £800,000 | | Lots value | Not specified | | Awards value | Not specified | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Planned | | Lots status | Planned | | Awards status | Not specified | | Contracts status | Not specified | ## Buyer | Field | Value | | --- | --- | | Main buyer | UNIVERSITY OF SOUTHAMPTON | | Locality | SOUTHAMPTON | | Post town | Southampton | | Postcode | SO17 1BJ | | Country | England | | ITL 1 | TLJ South East (England) | | ITL 2 | TLJ3 Hampshire and Isle of Wight | | ITL 3 | TLJ32 Southampton | | Local authority | Southampton | | Electoral ward | Portswood | | Westminster constituency | Southampton Test | | Delivery location | TLJ32 Southampton | ## CPV Codes ### Divisions - 79 - Business services: law, marketing, consulting, recruitment, printing and security ### Codes - 79212000 - Auditing services - 79212300 - Statutory audit services ## Release History - 17 Jan 2022 at 17:02 - Planning - Planning Notice - https://www.find-tender.service.gov.uk/Notice/001369-2022 ## Notice URLs - https://in-tendhost.co.uk/universityofsouthampton/aspx/Home - https://www.southampton.ac.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-h6vhtk-030bf2. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-030bf2.json.