External Audit Services

Tender description

The University requires an external auditor to provide the external audit of the University's annual consolidated financial statements and of the annual financial statements of its relevant UK and overseas subsidiary companies including pensions. Tenderers must be a UK-registered auditor, registered with a relevant UK accountancy body, and a Malaysian-registered auditor. Where the University requires external audit services to be provided for its overseas subsidiaries, the Tenderer will also need to confirm they (or their subcontractor that will be fulfilling the services locally) are compliant with local auditor registration requirements. The Tenderer will need to confirm they are compliant with the Financial Reporting Council's Code of Ethics particularly in respect of the start date of this Contract and the independence required for working with public interest entities. Lot 1: The University requires an external auditor to provide the external audit of the University's annual consolidated financial statements and of the annual financial statements of its relevant UK and overseas subsidiary companies including pensions. Tenderers must be a UK-registered auditor, registered with a relevant UK accountancy body, and a Malaysian-registered auditor. Where the University requires external audit services to be provided for its overseas subsidiaries, the Tenderer will also need to confirm they (or their subcontractor that will be fulfilling the services locally) are compliant with local auditor registration requirements. The Tenderer will need to confirm they are compliant with the Financial Reporting Council's Code of Ethics particularly in respect of the start date of this Contract and the independence required for working with public interest entities. Procurement Process: This procurement process is being conducted as an Open procedure. Tenderers will need to achieve a minimum acceptable qualitative pass mark of 50%. Tenderers who do not achieve an overall qualitative score of 50% or higher will be excluded from the competition and will not receive a Commercial score. The University will tell you that you have been excluded from the procurement and why at the award stage. Contract Period: The University proposes to enter into a contract for 10 years - this will be the maximum contract period, including any potential extensions with the successful tenderer. This will comprise of an initial contract period of 5 years with an option to extend by a further 5 years subject to satisfactory performance and at the discretion of the University. Contract Value: The estimated value of the initial 5-year contract term is in the region of £875,000 - £1,375,000 GBP (excluding VAT). The estimated value of the 5-year extension period is £875,000 - £1,375,000 GBP (excluding VAT). Details of current expenditure or potential future uptake are given as a guide based on past purchasing and current planning to assist you in the preparation of your Tender. They should not be interpreted as an undertaking to purchase any goods or services to any particular value and not form part of the Contract. Additional information: Lots: This contract is NOT suitable for splitting into lots. The risk of dividing the requirement into Lots would render the execution of the contract excessively difficult, not cost effective and would undermine proper execution of the contract.