Auditing services

Tender description

The University wishes to establish a contract with a professional services firm to provide external audit services as required by the University's Audit and Risk Committee (A&RC). The contract will commence on 1 January 2021 and is for a period of 3 years, with two possible extensions of 1 year each (3 + 1 + 1), subject to supplier performance and requirement. The opportunity can be viewed at http://events.transaxions.com/service.aspx?event=6811 The University wishes to establish a contract with a professional services firm to provide external audit services as required by the University's Audit and Risk Committee (A&RC). The University's governing body, Council, has approved the tendering of the agreement and stated that the overriding consideration is to appoint an audit firm with the experience to undertake the University's audit, as well as the ability to exercise appropriate judgement on audit issues, provide value for money and auditor independence. The University proposes a 3 + 1 + 1 year contract (with an annual review on performance). A key concern of the University is to ensure a constructive working relationship between the University and the Supplier, to ensure a ‘no surprises’ audit. As with all Higher Education Institutions (HEIs), the University is required to comply with FRS102 and the Office for Students (OfS) SORP as well as the OfS Memorandum of Assurance and Accountability. The University is also required to comply with various other regulatory requirements, for example, annual return for the National College of Teaching and Leadership (NCTL), an audit of US federal aid compliance and an audit of US GAAP compliance (triennially). The opportunity can be viewed at http://events.transaxions.com/service.aspx?event=6811