Accounting and auditing services

Tender description

Provision of External Audit Services for the University of the Arts London and associated entities. The University of the Arts London (UAL) seeks Expressions of Interest from organisations wishing to provide External Audit Services to the University for a period of 4 years, with the option of 2 extensions of 12 months each. This is subject to formal re-appointment by the University's Audit Committee on an annual basis. Background: Operating at the heart of the world's creative capital, UAL is a vibrant international centre for innovative teaching and research in arts, design, fashion and communication. As a creative university, our future is formed by the imagination, energy and skills of our staff, students, alumni and of the many academics from other institutions who work closely with us each year. UAL is Europe's largest specialist arts and design university, attracting more than 19 000 students from more than 110 countries. UAL is built upon the specific histories, identities and achievements of its six constituent Colleges, and their long tradition of engagement with creative, intellectual and professional life: The 6 Colleges are: Camberwell College of Arts, Central Saint Martins, Chelsea College of Arts, London College of Communication*, London College of Fashion, Wimbledon College of Arts. UAL is 1 of the world's most renowned institutions for education in arts, design, fashion and communication. Our critical mass and reputation allow us to influence the creative and cultural economy in the UK, Europe and beyond. Our staff and students are immersed in the cultural life of London, and connected into the city's national and global networks. We are continually invigorated by these connections and contribute to their future development. We actively influence global cultural debates through the diversity and international reach of our staff, students and alumni. Our University not only awards more than 7 500 undergraduate and postgraduate degrees each year but also delivers short creative courses and executive education to over 20 000 students, generating through its subsidiaries additional annual income of over 10 000 000 GBP. The main contact within the University will be the Director of Finance, through whom arrangements will be made for the conduct of the external audit and with whom issues arising from the audit will be cleared. The External Audit team will report to the Audit Committee. The audited financial statements for the University and its subsidiary entities are approved by the Court of Governors of the University and submitted to HEFCE by 30 November each year. The financial statements are normally reviewed by the Audit and Finance Committees during early November and are approved by the Court of the University in mid-November each year. The External Auditor will be expected to meet this timetable for all financial statements requiring audit. The External Auditor will be required to report by way of a Management Letter, in accordance with auditing standards and the HEFCE Accountability and Audit Code of Practice. Expectations of the external auditor: The University expects any provider if invited to tender to: — Adhere to the standards set out in the HEFCE's Memorandum of Assurance and Accountability; — Comply with the appropriate Auditing Standards and Generally Accepted Accounting Practice, including the requirements of the Higher Education SORP; — Provide suitably qualified and experienced staff; — Promote continuity of staffing; — Ensure that the staff employed will be competent and receive appropriate training; — Attend meetings of the Audit Committee.