---
title: "External Auditor Services"
ocid: "ocds-kuma6s-146397"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-kuma6s-146397"
markdown_url: "https://d3tenders.com/contract/ocds-kuma6s-146397.md"
json_url: "https://d3tenders.com/contract/ocds-kuma6s-146397.json"
source: "Sell2Wales"
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-kuma6s-146397

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## Summary

The Development Bank of Wales has concluded a procurement process to procure external auditing services for the financial year ending 31 March 2026. The procurement, under the industry category of Finance, was conducted using an open procedure and covered the audit of the bank's annual report and financial statements prepared under IFRS, subsidiary accounts under FRS101 and FRS102, CASS assurance for FW Capital, and audit confirmations for the Welsh Audit Wales Office. The successful supplier, FORVIS MAZARS LLP, based in London, will provide services primarily delivered from Cardiff. Key dates include the award of the contract on 4 March 2025, with the contract period commencing on 13 February 2025 and ending on 12 February 2027, including options for renewal.

This external auditor services contract represents significant growth opportunities for businesses specialising in financial auditing and assurance services. Large auditing firms with capabilities in handling IFRS and FRS standards, and experience with client asset sourcebooks, are well-suited to compete in similar procurements. The contract valued at £3,350,000 underscores the financial potential for well-established audit firms aiming to expand their clientele and reinforce their market presence by partnering with public law bodies like the Development Bank of Wales. Businesses can leverage this tender to establish a robust relationship with a key financial institution, opening doors for future procurement opportunities.

## 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.. 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 | Sell2Wales |
| Latest notice | https://www.sell2wales.gov.wales/search/search_switch.aspx?ID=146397 |
| Notice type | OJEU - F3 - Contract Award 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 | Complete |
| Awards status | Not specified |
| 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 00:00 - Award - OJEU - F3 - Contract Award Notice - https://www.sell2wales.gov.wales/search/search_switch.aspx?ID=146397
- 29 Nov 2024 at 00:00 - Tender - OJEU - F2 - Contract Notice - https://www.sell2wales.gov.wales/search/search_switch.aspx?ID=146397

## Documents

- https://www.sell2wales.gov.wales/search/show/search_view.aspx?ID=NOV494808
  External Auditor Services - 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.
- https://www.sell2wales.gov.wales/search/show/search_view.aspx?ID=MAR500841
  External Auditor Services - 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.

## Notice URLs

- http://www.developmentbank.wales
- https://api.sell2wales.gov.wales/v1?lang=cy/Notice?id=ocds-kuma6s-146397
- https://etenderwales.bravosolution.co.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-kuma6s-146397. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-kuma6s-146397.json.