Published date: 12 April 2021

This notice was replaced on 28 May 2021

This notice does not contain the most up-to-date information about this procurement. The most recent notice is:

Awarded contract (published 28 May 2021)

Closed opportunity - This means that the contract is currently closed. The buying department may be considering suppliers that have already applied, or no suitable offers were made.


Contract summary

Industry

  • Research and development services and related consultancy services - 73000000

Location of contract

EC2Y 5AS

Value of contract

£28,000 to £35,000

Procurement reference

FRC2021-048

Published date

12 April 2021

Closing date

4 May 2021

Closing time

5pm

Contract start date

17 May 2021

Contract end date

30 September 2021

Contract type

Service contract

Procedure type

Open procedure (below threshold)

Any interested supplier may submit a tender in response to an opportunity notice.

This procedure can be used for procurements below the relevant contract value threshold.

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

Yes

Description

The Financial Reporting Council sets the UK Corporate Governance and UK Stewardship Codes; sets UK standards for accounting and actuarial work; monitors and takes action to promote the quality of corporate reporting; and operates independent enforcement arrangements for accountants and actuaries. As the competent authority for audit in the UK the FRC sets auditing and ethical standards and monitors and enforces audit quality. The FRC works in the public interest. Our work is aimed at investors and others who rely on company reports, audit and high-quality risk management.

Background:
In 2016 the FRC published a report titled Corporate Culture and the Role of Boards (hereafter the '2016 Report') which sought to address how boards can influence and shape their company's culture, build trust with various stakeholders and deliver sustainable success through culture assessment, measuring and monitoring.
In 2018 the FRC published the new UK Corporate Governance Code which places a greater emphasis on culture, encouraging companies to develop cultures that promote integrity and openness, that value diversity and are responsive to the views of stakeholders.


Purpose and Scope:
Research conducted by the FRC for its 2020 Annual Review of Corporate Governance indicated that only about a half of companies provided meaningful commentary on their culture in their most recent annual reports, while many companies made no mention at all of monitoring or assessing their culture. In light of these findings, the purpose of this research project is answer three questions:
1. What externally sourced information, guidance and tools/concepts are boards using to frame and support their companies' internal discussions on culture?
2. How have companies' internal practical approaches to measuring corporate culture, embedding (implementing) culture change, and reviewing the impact of that change evolved in the five years since the FRC's 2016 report?
3. What obstacles do companies encounter in promoting the desired corporate culture and how have they been (or how can they be) addressed?


** This is a summary only, please see the PDF download below for full details **

More information

Attachments

Additional text

Notes:-

• Download and review the documents;

• Observe the timelines and tender process

• Register your interest in this opportunity by email to procurement@frc.org.uk

• You will need to register your interest in this opportunity to receive the Q&A responses.

About the buyer

Contact name

Head of Procurement

Address

8th Floor,125 London Wall
LONDON
EC2Y5AS
England

Telephone

020 7492 2300

Email

procurement@frc.org.uk