Audit Substantive Testing Data Automation Tool

Concepts

• financial auditing
• victoria
• auditing services
• accounting and auditing
• document automation software
• financial audit
• audit evidence
• tests
• audit substantive testing data automation tool
• testing

Location

UNITED KINGDOM

Description

The National Audit Office (NAO) requires an off the shelf software solution to assist with automating our audit testing and documentation process, covering two use-cases within financial audit: 1.Substantive testing - Test of detail/Test of control automation Auditors spend a significant amount of time and manual effort conducting tests of detail (ToD) and tests of controls, comparing documents (such as invoices) to samples from the general ledger or other structured records for consistency. We are interested in document automation software to parse images/pdfs of audit evidence and automatically match to tabular data and output this in a manner which is easy to follow and document for the purposes of our audit testing within an excel document. 2.Financial Statement procedures Auditors are required to check the financial statements. Ensuring that (for example) the sums within the statements are internally consistent/correct. Similar to the use case above we are looking for document automation software that can automate some of this by extracting 'sums' from the document and automatically reconciling them, as well as some other processes detailed in the procurement documents. The software needs to be ready for use by 1 October 2024. The estimated total value in this notice excludes VAT and is for the duration of the maximum contract term (1+1+1).

Total Quantity or Scope

The initial contract term will be a period of 1 year, with the NAO having the option to extend the contract period by two further periods of 12 months, with a maximum term of 3 years. Please refer to the invitation to tender documentation for further information. The estimated contract value in this notice is for the duration of the maximum term.

CPV Codes

• 79212100 - Financial auditing services
• 48000000 - Software package and information systems
• 79212000 - Auditing services
• 79200000 - Accounting, auditing and fiscal services

Indicators

• Bids should cover the whole contract.
• Renewals are not available.
• Award on basis of price and quality.

Other Information

To respond to this opportunity please click here: https://www.delta-esourcing.com/respond/9679NVEF47 The contracting authority considers that this contract may be suitable for economic operators that are small or medium enterprises (SMEs). However, any selection of tenderers will be based solely on the criteria set out for the procurement. For more information about this opportunity, please visit the Delta eSourcing portal at: https://www.delta-esourcing.com/tenders/UK-UK-Victoria:-Financial-auditing-servi... To respond to this opportunity, please click here: https://www.delta-esourcing.com/respond/9679NVEF47 GO Reference: GO-2024725-PRO-27000162