Accounting, auditing and fiscal services

Tender description

Independent Reporters are commissioned by Network Rail to provide impartial, expert advice to the ORR and Network Rail. Since their establishment in 2004 Independent Reporters are recognised as industry experts and have played an important role in researching and assuring Network Rail’s delivery of services. Network Rail, with the support of Government, has committed to further devolution to regions and routes. With this context, ORR in its initial PR18 consultation set out its plans for a route based regulatory framework which has set the path for the periodic review process and ultimately the regulatory framework for CP6. Independent reporters will play an important role in providing opinion and advice to ORR potentially across various regions and routes and not just Network Rail as a singular organisation. Independent reporters may be commissioned to look at any part of Network Rail’s regulated activities covering any of the following areas: Financial — auditing financial accounts and regulatory measures, — business and performance planning, — monitoring of financial efficiencies, — reviewing Network Rail’s business plans. Asset management — asset stewardship capability, — renewal and replacement of the network, — quality and capability of the network. Consultancy — planning and delivering enhancement projects, — management, development and auditing of data management systems, — project management, — delivery and planning of train performance to operators, — managing change, — stakeholder engagement, — long term planning. For reference only, examples of previous independent reporter mandates include: — review and determine the accuracy of the information held in respect of Network Rail’s assets to demonstrate confidence in the quality and governance over its asset data, — determine the reliability and accuracy of the information presented in Network Rail's regulatory financial statements, — provide assurance that the methodology for producing price lists is robust, prior to sharing the them with industry stakeholders, — provide ORR with assurance of the reliability and accuracy of proposed metrics that could be used to measure performance, — develop a route-based approach to monitoring and reporting on Network Rail’s capability to manage and deliver capital projects, programmes and portfolios through the lifecycle, — provide assurance to ORR on the reasonableness of the forecast headwinds and efficiencies included within Network Rail’s plans, — provide assurance on Network Rail’s proposed business change programmes to be delivered in CP6 including assurance to ORR that the processes and controls for governing programmes are appropriate, — support ORR’s review of Network Rail’s planning for, and deliverability of, its strategic plans, — provide assurance that any submitted, and anticipated future, changes to costs and outputs are efficient and provide value for money for third party funders. Further information of previous Independent Reporter scope of services can be found on the official ORR website.