---
title: "Board Effectiveness Review"
ocid: "ocds-h6vhtk-077b73"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-077b73"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-077b73.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-077b73.json"
source: "Find A Tender Service"
current_stage: "Tender"
buyer: "THE FINANCIAL REPORTING COUNCIL LIMITED"
published: "2026-09-28"
---

# Board Effectiveness Review

Buyer: THE FINANCIAL REPORTING COUNCIL LIMITED  
Current stage: Tender  
OCID: ocds-h6vhtk-077b73

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[Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-077b73.json)

## Summary

The Financial Reporting Council (FRC) is seeking an independent external reviewer to assess the effectiveness of its Board, Board committees and wider governance arrangements. The review concerns the Board’s strategic leadership, oversight of resources and management performance, risk controls, values and culture, and responsibilities to stakeholders. The FRC regulates auditors, accountants and actuaries, sets the UK Corporate Governance and Stewardship Codes, and oversees audit standards and quality. This is a governance and management consultancy service, rather than an audit engagement. Delivery is in the United Kingdom, with locations identified in the West Midlands and London. The work supports the FRC’s public-interest role and its aim of upholding standards in corporate governance, corporate reporting, audit and actuarial work.

The FRC invited tenders through an open competition below the public procurement threshold. The process reached the tender stage, when the buyer invited offers. The single lot has an estimated value of £75,000 excluding VAT (£93,750 including VAT). Questions were due by 16 October 2026 at 12:00, and tender submissions by 23 October 2026 at 12:00; submissions were to be emailed. The contract period was set to run from 7 December 2026 to 21 May 2027, with a possible four-month renewal extending the period to 21 September 2027. The FRC also reserved the right to buy further services of the same or a related nature. Evaluation covers conflicts of interest, quality and price.

This opportunity is suited to an independent reviewer with substantial experience assessing board effectiveness, committee performance and governance arrangements. Suppliers should be able to examine the strategic leadership and oversight responsibilities of a central public-interest regulator, including its risk controls, organisational culture and accountability to stakeholders. Small and medium-sized enterprises are considered suitable. Independence and careful conflict management are commercially critical: the FRC regulates entities that may have an interest in the procurement, so bidders must assess actual, potential and perceived conflicts and, where relevant, explain the circumstances and proposed measures to manage, mitigate or remove them. The FRC will assess those conflicts and measures, and may exclude a bidder if it considers the conflict cannot be adequately addressed. Quality and price are also evaluation considerations.

## Notice

BACKGROUND The Financial Reporting Council (FRC) regulates auditors, accountants and actuaries and sets the UK's Corporate Governance and Stewardship Codes. As the Competent Authority for audit in the UK, we set auditing and ethical standards and monitor and enforce audit quality. The purpose of the FRC is to serve the public interest and support UK economic growth by upholding high standards of corporate governance, corporate reporting, audit and actuarial work. The FRC's core objectives are to promote high-quality corporate governance and reporting, support effective audit and actuarial work, hold relevant parties to account through proportionate supervision and enforcement, and contribute to well-functioning UK capital markets in the public interest. PROJECT REQUIREMENTS The Board of the Financial Reporting Council (FRC) is made up of non-executive and executive directors and is collectively responsible for the long-term success of the FRC. All Board Members, including the CEO and Chair, are appointed by the Secretary of State for Business, Innovation, Science and Trade. The Board's role is to provide strategic leadership of the FRC within a framework of prudent and effective controls which enables risk to be assessed and managed. The Board sets the FRC's strategic aims, ensures that the necessary financial and human resources are in place for the FRC to meet its objectives and reviews management performance. The Board also sets the FRC's values and culture and ensures that its obligations to its stakeholders and others are understood and met. All directors must act in what they consider to be the best interests of the FRC, consistent with their statutory duties. For further information see FRC Board The UK Corporate Governance Code requires that companies which follow the Code should consider undertaking an externally facilitated Board effectiveness review every three years. THIS TENDER The FRC is seeking an experienced, independent external reviewer to undertake a Board Effectiveness Review covering the Board, its Committees and wider governance arrangements. PLEASE REFER TO THE INVITATION TO TENDER (ITT) FOR FULL DETAILS INCLUDING HOW TO SUBMIT YOUR TENDER IMPORTANT: * Please register your interest (and raise any tender queries) by emailing the FRC's procurement team - procurement@frc.org.uk * The FRC will share all tender queries and answers with those that have registered. * Your tender submission must be submitted within the deadline by email to procurement@frc.org.uk

### Lot Information

Lot 1

Options: The FRC reserves the right to procure further Services of the same / related nature.

Renewal: Further four (4) months.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/091391-2026 |
| Notice type | UK4 - Tender Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Below threshold - open competition |
| Tender suitability | SME |
| Awardee scale | Not specified |
| All stages | Tender |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 28 Sep 2026 |
| Submission deadline | 23 Oct 2026 |
| Future notice date | Not specified |
| Award date | Not specified |
| Contract period | 7 Dec 2026 - 21 May 2027 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £75,000 |
| Lots value | £75,000 |
| Awards value | Not specified |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Active |
| Lots status | Active |
| Awards status | Not specified |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | THE FINANCIAL REPORTING COUNCIL LIMITED |
| Locality | LONDON |
| Postcode area | East London |
| Postcode | E14 9GE |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI4 Inner London - East |
| ITL 3 | TLI42 Tower Hamlets |
| Local authority | Tower Hamlets |
| Electoral ward | Blackwall & Cubitt Town |
| Westminster constituency | Poplar and Limehouse |
| Delivery location | TLG31 Birmingham, TLI London |

## CPV Codes

### Divisions

- 72 - IT services: consulting, software development, Internet and support
- 79 - Business services: law, marketing, consulting, recruitment, printing and security

### Codes

- 72221000 - Business analysis consultancy services
- 79313000 - Performance review services
- 79400000 - Business and management consultancy and related services

## Release History

- 28 Sep 2026 at 12:25 - Tender - UK4 - Tender Notice - https://www.find-tender.service.gov.uk/Notice/091391-2026

## Documents

- https://www.find-tender.service.gov.uk/Notice/091391-2026
  28th September 2026 - Tender notice on Find a Tender
- https://www.find-tender.service.gov.uk/Notice/Attachment/A-23099
- https://www.find-tender.service.gov.uk/Notice/Attachment/A-23101

## Notice URLs

- https://www.frc.org.uk/
- https://www.frc.org.uk/about-us/structure/frc-board/
- https://www.legislation.gov.uk/ukpga/2023/54/contents

## 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-077b73. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-077b73.json.