Published date: 28 May 2021

Awarded contract - This means that the contract has been awarded to a supplier.


Closing: 4 May 2021, 5pm

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

28 May 2021

Closing date

4 May 2021

Closing time

5pm

Contract start date

21 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

**THIS IS A CONTRACT AWARD NOTICE - THIS TENDER IS CLOSED**

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.

The Background of this Project:
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.

The Purpose and Scope of this Project was:

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 was to 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 contract award notice **

More information

Previous notice about this procurement

Culture in companies Research Project

  • Opportunity
  • Published 12 April 2021

Attachments

Additional text

** THIS OPPORTUNITY IS CLOSED. THIS IS A CONTRACT AWARD NOTICE**

Award information

Awarded date

19 May 2021

Contract start date

21 May 2021

Contract end date

30 September 2021

Total value of contract

£35,000

This contract was awarded to 1 supplier.

DRAGONFISH CONSULTING LTD

Address

4-5 Grosvenor Square
SOUTHAMPTON
Hampshire
SO15 2BE
GB

Reference

Companies House number: 08971418

Value of contract

£35,000

Supplier is SME?

Yes

Supplier is VCSE?

No

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