---
title: "External Auditor Services"
ocid: "ocds-h6vhtk-04c112"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-04c112"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-04c112.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-04c112.json"
source: "Find A Tender Service"
current_stage: "Award"
buyer: "DEVELOPMENT BANK OF WALES"
published: "2025-03-04"
---

# External Auditor Services

Buyer: DEVELOPMENT BANK OF WALES  
Current stage: Award  
OCID: ocds-h6vhtk-04c112

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## Summary

The Development Bank of Wales is seeking external audit services for the financial year ending 31 March 2026 in Cardiff, under the "services" industry category. The final contract was awarded on 4 March 2025, following a tender process that started on 29 November 2024. The process involved an open procedure and the contract, worth £3,350,000, was signed with FORVIS MAZARS LLP. Key activities include auditing the group’s Annual Report and Financial Statements under IFRS, subsidiary accounts based on various FRS standards, Client Asset Sourcebook (CASS) assurance for FW Capital, and providing audit confirmations for Audit Wales.

This contract offers substantial opportunities for businesses capable of providing comprehensive audit services, particularly those experienced with IFRS and various FRS standards. The tender process outlined rigorous evaluation criteria, focusing on both quality (70% weightage allocated to technical evaluation and presentation) and price (30% weightage). The successful bidder, FORVIS MAZARS LLP, a large-scale supplier, will be required to share the Group Audit Completion Memo with Welsh Government employees, ensuring transparency and collaboration. Firms specialising in auditing and financial services and capable of meeting the high standards and demanding compliance requirements of public sector contracts would find this opportunity particularly advantageous.

## Notice

DBW wishes to procure external audit services for the group for the financial year ended 31 March 2026 which should include: The audit of the group's Annual Report and Financial Statements, prepared under IFRS, noting that any future changes to IFRS should be incorporated into all future audits under this agreement. The audit of the group's subsidiary accounts, to include: Limited companies and General partners, prepared under FRS101 Limited Partnerships, one of which is consolidated and is prepared under FRS101, the remainder are non-consolidated and prepared under FRS102 Client Asset Sourcebook (CASS) assurance for FW Capital Providing audit confirmations on a Component Auditor basis to the Welsh Audit Wales Office.

### Lot Information

Lot 1

DBW wishes to procure external audit services for the group for the financial year ended 31 March 2026 which should include: The audit of the group's Annual Report and Financial Statements, prepared under IFRS, noting that any future changes to IFRS should be incorporated into all future audits under this agreement. The audit of the group's subsidiary accounts, to include: Limited companies and General partners, prepared under FRS101 Limited Partnerships, one of which is consolidated and is prepared under FRS101, the remainder are non-consolidated and prepared under FRS102 Client Asset Sourcebook (CASS) assurance for FW Capital Providing audit confirmations on a Component Auditor basis to Audit Wales. Please note that the successful bidder will also be required to share the Group Audit Completion Memo with Welsh Government employees. Selection Process The tender process will include four stages as follows: Assessment of Capability and Knowledge - this will be a written submission in response to the questions in the Technical Envelope on etenderWales. Submission of Fees - bidders are requested to submit their proposed fees for the services using the template provided in the attachment section on etenderWales. Volume 2 Commercial Evaluation. Presentation - following the evaluation of the written and commercial submissions, the four top scoring bidders will be asked to attend a presentation with members of DBWs Audit and Risk Committee (ARC) and senior members of the finance team. The topic of the presentation is set out in Section 12 of the ITT Volume 1. We expect senior members of the audit team to be present. Informal meeting with key members of the finance team - the four top scoring bidders that proceed to the presentation stage will be asked to attend an informal meeting with key members of the finance team. This will not be scored as part of the bid. Additional information: Please refer to scope within Volume 1 ITT for further information

Renewal: 3 year extension in 12 month increments

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/007867-2025 |
| Notice type | Tender Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure |
| Tender suitability | Not specified |
| Awardee scale | Large |
| All stages | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 4 Mar 2025 |
| Submission deadline | 6 Jan 2025 |
| Future notice date | Not specified |
| Award date | 4 Mar 2025 |
| Contract period | 13 Feb 2025 - 12 Feb 2027 |
| Recurrence | 2030 |

## Values

| Field | Value |
| --- | --- |
| Tender value | Not specified |
| Lots value | Not specified |
| Awards value | Not specified |
| Contracts value | £3,350,000 |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Cancelled |
| Awards status | Active |
| Contracts status | Active |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | DEVELOPMENT BANK OF WALES |
| Locality | WREXHAM |
| Post town | Not specified |
| Postcode | LL1 37Y |
| Country | Not specified |
| ITL 1 | Not specified |
| ITL 2 | Not specified |
| ITL 3 | Not specified |
| Local authority | Not specified |
| Electoral ward | Not specified |
| Westminster constituency | Not specified |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | FORVIS MAZARS |

## CPV Codes

### Divisions

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

### Codes

- 79212000 - Auditing services
- 79212100 - Financial auditing services

## Release History

- 4 Mar 2025 at 14:35 - Award - Award Notice - https://www.find-tender.service.gov.uk/Notice/007867-2025
- 29 Nov 2024 at 11:11 - Tender - Tender Notice - https://www.find-tender.service.gov.uk/Notice/038568-2024

## Notice URLs

- http://www.developmentbank.wales
- https://etenderwales.bravosolution.co.uk/
- https://www.sell2wales.gov.wales/search/Search_AuthProfile.aspx?ID=AA0555

## 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-04c112. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-04c112.json.