External Audit Services Royal Academy of Music

Tender description

The Royal Academy of Music (the Academy) is tendering for services to: a) Audit the annual financial statements comprising: i) Main Academy (including the Legacy Pool and Awards) The Legacy Pool holds our endowments and legacies, invested in the market. The income from the Legacy Pool is transferred to Awards to fund bursaries and scholarships for students. In addition, donations received during the year are added to Awards. These accounts form part of the consolidated accounts of the Academy. ii) RAM Collections Trust (a Company limited by guarantee and a registered charity) which maintains, promotes, exhibits and provides the widest possible access to the musical archive of the late Yehudi Menuhin. iii) RAM Development Company (a subsidiary which is currently dormant). b) Audit of US loans scheme; (currently under $500k value) c) Audit of the annual teachers’ pension scheme return, and d) Audit services for the Royal Academy of Music 1967 pension scheme accounts. Audits must be undertaken in accordance with UK GAAP, International Standards on Auditing ISAs (UK) and applicable law.