UK SBS PS17307 SIL Financial Services

Tender description

The final date and time for the submission of bids is 26/01/2018 at 14:00. Please DO NOT apply directly to the buyer. To contract with a suitably qualified accountancy company, so that they can provide SIL with business support services: primarily preparation and audit of the annual financial statements and preparation and submission of corporation tax returns. Therefore the minimum qualification required by the personnel providing these services would need to hold a minimum qualifications ACA/ACCA. Objectives • Preparation of annual financial statements for STFC Innovations Ltd (SIL) in accordance with statutory requirements (including applicable law and International Financial Reporting Standards). • Annual audit of SIL financial statements and associated transactions in accordance with International Standards on Auditing. Completion of the audit is on a very tight timeline - SIL's year-end is 31 March and final accounts signed off by the auditors are required by May • Provision of a suitable report to the Directors detailing any significant matters arising from the audit together with any significant deficiencies in internal control. • Preparation and submission of SIL annual Corporation tax returns in accordance with statutory requirements and timescales. • General accountancy/business support/taxation advice as required. Requirement. • Pre-audit planning meeting at STFC, Harwell Campus, Didcot, . • Onsite account preparation and audit work at STFC, Harwell Campus, Didcot, liaising with the management accountant supporting BID and SIL. This includes a possible need to visit UK SBS (Shared Business Services) in Swindon where accounting records are held and the Oracle accounting system is hosted. • All activities must be performed or supervised by qualified accountants. • The successful company must have expertise of the following; o Preparing annual financial statements for Limited companies. o Submitting Corporation tax returns. o Innovation based start-ups and spin-out activities, accounting for IP and valuation of early stage companies • Financial statements and audit activities must be completed in accordance with agreed STFC year-end timetable (tbc). • Audit activities and Corporation tax activities must be conducted by different teams. • Dedicated account manager and audit team to maintain continuity and experience. • Keep nominated directors promptly informed of issues arising from the accounts or audit • Attendance at Board meeting in person or by phone to support discussion of approval of account. Contract Management . • Annual Performance review meeting to take place after each audit has been completed and signed off. Timetable • Contract expected to commence in February 2018 to allow time for familiarisation with SIL FY 17/18 accounts and subsequent financial statement preparation/audit in April 2018. • A two year contract proposed for the above services, with an option to extend for a further two years subject .