Highways England KF L&P 2020-21

Tender description

The supplier will provide their proposals including details of their team's expertise and independence to carry out the work in early April for the NAO. The NAO will provide the necessary evidence and selected samples for the supplier in mid-April (contingent on Highways England's provision of these items to the NAO), and will liaise with Highways England where further explanations or assumptions are required. The supplier will complete its work through April and May on the below: • Review of VOA's methodology for calculating the land and property liabilities and confirmation that this is in line with the Compensation Code. • The supplier will review a sample of 5 valuations supporting land and property provisions to assess whether, based on the information provided in the detailed valuation, the key assumptions and judgements are materially consistent with the Compensation Code in terms of providing a reasonable estimate for HE valuation on the anticipated forecast outturn cost to settle compensation. This should also confirm that the area of land included in the liability is appropriate. These valuations will, depending on sample selection, cover multiple properties (e.g. where they cover the acquisition area for a whole road scheme) and so some degree of consideration of items contributing to the overall valuation may be necessary in these larger samples, as opposed to them being tightly restricted to a single property. Regardless of item size, we would in each case be looking for the auditor's expert to assess the material reasonableness of the valuation in question. Supplier to produce a report on their findings on the above work not later than late May 2021, with early delivery preferred. This report will be compliant with the technical standards applicable to this type of work and will contain reference to their qualifications to support the NAO in our assessment of the contractor as auditor's experts under ISA 620. The report should include confirmation of the contractor's independence to act as an auditors' experts. This should include details of any interests and relationships that may create a threat to the contractor's objectivity. NAO will pay undisputed invoices within 30 days of receipt of the final report output.