Internal Audit Services

Tender description

The FSCS is looking to appoint a Service Provider for the provision of Internal Audit Services. This successful Service Provider will be expected to deliver a proactive, risk-based internal audit service. The Service Provider will be prepared to challenge existing processes and support management in identifying efficiencies and driving change without undue risk, as well as opining on the wider assurance approach. The Financial Services Compensation Scheme intend to undertake the procurement exercise in the last quarter of 2021, with contract expected to start in the new financial year in April 2022. Lot 1: Delivery of a proactive risk-based internal audit service, prepared to challenge existing processes and support management in identifying efficiencies and driving change without undue risk, as well as opining on the wider assurance approach. •Plan proposed annual audit •Work with FSCS’ risk and resilience team to deliver assurance and focus on the areas most relevant to FSCS •development of internal audit strategy and / or methodologies •advice, benchmarking and external good practice on governance •Communicate effectively throughout the progress of an audit with key stakeholders •specialist internal audit assurance and advisory service e.g. IT/IS audit •use of own internal audit methodology and quality assurance process •producing reports and working papers •act as the Scheme’s trusted advisors on matters of governance, risk management and assurance frameworks •draw on experience and research covering both the public and private sector