Internal Audit

Tender description

Prior Information Only:The Cornwall college group are looking for a suitably qualified supplier(s) to carry out the internal audit functions. Lot 1: 1. Description of Internal Audit ServicesThe Supplier shall provide the College with the following Services:• the provision of an internal audit service.• the provision of ad-hoc services as required by the College.2. Scope of the Internal Audit ServicesThe Supplier shall provide the College with an internal audit service that:• is performed with due professional care.• is in accordance with the appropriate professional auditing practice (Institute of Internal Audit) and the Code of Audit Practice.• follow Audit Guidance from the Education and Skills Funding Agency (ESFA).• meet the deliverables set out in this document.• provides the College with and independent/objective appraisal of all College activities (excluding audits of academic provision), its financial systems and management controls including business risk.• provides the College with an objective assessment of adequacy and effectiveness of the College’s systems and controls to:o enable the College Board Members and senior management to know the extent to which they can rely on the College’s systems and controls; and o enable individual managers to know how reliable the College’s systems and controls for which they are responsible are; ando secure propriety, economy, efficiency and effectiveness in all areas; ando indicate activities where value for money could be improved.As part of the internal audit service the Supplier shall also be required to:• liaise with the College’s appointed external auditor and the Education and Skills Funding Agency (ESFA) to enhance the level of service it provides to College.• provide the College’s appointed external auditor with copies of all reports including the annual report which have been completed and considered by the College Audit and Risk Committee.