Provision of External Audit Services to University of South Wales Group & Wrexham University Group

A Tender Notice
by UNIVERSITY OF SOUTH WALES

Source
Find a Tender
Type
Contract (Services)
Duration
3 year
Value
___
Sector
BUSINESS
Published
13 Mar 2024
Delivery
To 12 Apr 2027 (est.)
Deadline
12 Apr 2024 12:00

Concepts

Location

Pontypridd

Geochart for 3 buyers and 0 suppliers

3 buyers

Description

The University of South Wales has a requirement to tender for the provision of External Audit Services to the University of South Wales Group and Wrexham University Group, the parties to this tender. The University of South Wales Group and Wrexham University Group, parties to this tender, are seeking to appoint external auditors for up to a maximum of five years (three years in the first instance with the option of up to 2 x 1 year extensions on a +1, +1 basis) with effect from 1 August 2024. The appointment would be subject to the continued satisfactory performance by the successful service provider as well as meeting the target of agreed KPI’s.

Lot Division

1 External Audit Services to University of South Wales Group & Wrexham University

The University of South Wales Group and Wrexham University, parties to this tender, are seeking to appoint external auditors for up to a maximum of five years (three years in the first instance with the option of up to 2 x 1 year extensions on a +1, +1 basis) with effect from 1 August 2024. The appointment would be subject to the continued satisfactory performance by the successful service provider as well as meeting the target of agreed KPI’s. REQUIREMENT OVERVIEW The Parties to the tender requires the successful provider to deliver an external audit service to include the requirements detailed in the table below. The tender has been split into two lots for which we will accept bids for individual lots or both lots. - Lot 1 comprises the University of South Wales and its two colleges, RWCMD and Merthyr College, and Wrexham University. See table in PQQ attached to this notice for full scope. The primary role of the external auditors will be to report on the financial statements of the parties to this tender and all its subsidiary companies and to carry out whatever examination of the statements, underlying records and control systems is necessary to reach their opinion on the financial statements. The auditor’s report should state whether funds received from HEFCW(to be known as CTER from August 2024) and other bodies have been applied for the purposes intended and in accordance with HEFCW’s accounts direction, HEFCW’s audit code of practice and the Financial Management Code issued under the Higher Education (Wales) Act 2015 and the latest SORP – please find link https://www.frc.org.uk/accountants/accounting-and-reporting-policy/uk-accounting-standards/statements-of-recommended-practice-(sorps) In addition to the opinion on the financial statements, the appointed auditors will be required to express an opinion on the University’s Corporate Governance statement. Both Universities are keen to adopt best practice in respect of Corporate Governance and would be interested in any relevant experience, which will assist it in this respect. The audit of the financial statements is generally undertaken in two stages, an interim audit in June and final fieldwork completed from September onwards. All financial statements are to be finalised and signed by the relevant committees and board meeting dates in November to allow circulation to HEFCW at the 30 November. Representatives from the external auditors will be expected to attend the Audit Committee meetings as and when required. Audit Committee meetings take place four times per year. These are during September, November, March and June. Dates will be confirmed.
2 External Audit Services to the subsidiary companies of both institutions plus Grant audits

The University of South Wales Group and Wrexham University, parties to this tender, are seeking to appoint external auditors for up to a maximum of five years (three years in the first instance with the option of up to 2 x 1 year extensions on a +1, +1 basis) with effect from 1 August 2024. The appointment would be subject to the continued satisfactory performance by the successful service provider as well as meeting the target of agreed KPI’s. The Parties to the tender requires the successful provider to deliver an external audit service to include the requirements detailed in the table below. The tender has been split into two lots for which we will accept bids for individual lots or both lots. - Lot 2 comprises the subsidiary companies of both Institutions plus Grant audits. See PQQ document attached to this notice for full scope of requirements.

Renewal Options

This contract will commence 1st August 2024, subject to the Parties respective Board approval, and will run for an initial 3 year term with an option of up to 2 x 1 year extensions on a +1, +1 basis, subject to agreement by the parties

Award Criteria

Quality of the audit process 20.0
Risk Management 10.0
Relationship Management 10.0
Service Delivery 10.0
Audit Methodology & Software 5.0
Terms & Conditions 5.0
Social Value 5.0
Interview 10.0
PRICE 25.0

CPV Codes

  • 79210000 - Accounting and auditing services
  • 79212000 - Auditing services
  • 79212300 - Statutory audit services
  • 79212100 - Financial auditing services

Indicators

  • Restrictions apply to the lot award allocation.
  • Bids should cover a maximum number of lots.
  • Bids may cover one or more lots.
  • Renewals are available.
  • Performance considerations apply.
  • Professional qualifications are sought.
  • Staff qualifications are relevant.
  • Award on basis of price.

Other Information

Supplier Engagement Meeting As part of engaging with prospective suppliers, USW is looking to hold Supplier Engagement meetings in order to introduce the University of South Wales and Wrexham University to you. The dates scheduled are w/c 25th March 2024 and shall be by appointment only and held On Microsoft Teams Please email Procurement@southwales.ac.uk to note your interest in attending, providing the following information: Company name; Attendees name and role - Please limit attendees to no more than three; Lot(s) interested in You are invited to submit any questions you have, in advance of the meetings, via the Sell2Wales Q & A function of this notice. (Please note the below deadline for questions is for the Supplier Engagement meetings only. This is to ensure that all interested parties have as much information to inform as early in the process as possible. Further questions are allowed in line with the deadline in the tender document prior to the return of PQQ submissions. Questions, in advance of the meeting, need to be submitted by: midday, Wednesday 20th March 2024. These questions will be answered in the meeting(s) and once the meeting is concluded they will be shared via an additional document to this notice for transparency. Should any questions not be answered during the meeting we will include the answers to them via the additional document also. NOTE: please submit your questions for the Supplier Engagement Meetings in one posting (if possible) to the Q & A function. NOTE: To register your interest in this notice and obtain any additional information please visit the Sell2Wales Web Site at https://www.sell2wales.gov.wales/Search/Search_Switch.aspx?ID=139607. The buyer has indicated that it will accept electronic responses to this notice via the Postbox facility. A user guide is available at https://www.sell2wales.gov.wales/sitehelp/help_guides.aspx. Suppliers are advised to allow adequate time for uploading documents and to dispatch the electronic response well in advance of the closing time to avoid any last minute problems. Under the terms of this contract the successful supplier(s) will be required to deliver Community Benefits in support of the authority’s economic and social objectives. Accordingly, contract performance conditions may relate in particular to social and environmental considerations. The Community Benefits included in this contract are: Please see PQQ for full details (WA Ref:139607)

Reference

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