Published date: 11 January 2022

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


Closing: 24 November 2021, 12pm

Contract summary

Industry

  • Research and development services and related consultancy services - 73000000

Location of contract

EC2Y 5AS

Value of contract

£54,000 to £60,000

Procurement reference

FRC2021-0155

Published date

11 January 2022

Closing date

24 November 2021

Closing time

12pm

Contract start date

8 December 2021

Contract end date

29 April 2022

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 OPPORTUNITY IS CLOSED. THIS IS A CONTRACT AWARD NOTICE***
The Financial Reporting Council (FRC) regulates auditors, accountants and actuaries and sets the UK's Corporate Governance and Stewardship Codes. We seek to promote transparency and integrity in business; our work is aimed at investors and others who rely on company accounts, audit and high-quality risk management.

In May 2018 the FRC published a thematic review on Audit Culture. Audit firm culture is a critical component of an audit firm's ability to deliver high quality audits in the public interest therefore the review looked at audit firms' activities to establish, promote and embed a culture that is committed to delivering consistently high-quality audits.

One key attribute of a good, healthy audit culture is auditors being able to challenge companies' management teams effectively and exercise professional scepticism when performing audits. The FRC's work continues to show that auditors often struggle to challenge the management of audited entities effectively, especially on issues that involve judgement. This can result in auditors failing to obtain sufficient and appropriate audit evidence, and in some cases, failing to identify or seek the correction of potential misstatements of the financial statements.

The research project was to provide evidence and analysis to support the FRC's current thematic review on audit culture.

More information

Previous notice about this procurement

Audit Firm Culture

  • Opportunity
  • Published 27 October 2021

Attachments

Additional text

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

Award information

Awarded date

14 December 2021

Contract start date

16 December 2021

Contract end date

29 April 2022

Total value of contract

£55,000

This contract was awarded to 1 supplier.

C M MONITOR (BRITAIN THINKS) LTD

Address

METHERELL GARD,MORVAL
LOOE
Cornwall
PL13 1PN
GB

Reference

Companies House number: 07291125

Value of contract

£55,000

Supplier is SME?

Yes

Supplier is VCSE?

No

About the buyer

Contact name

Head of Procurement

Address

8th Floor,
125 London Wall
LONDON
EC2Y 5AS
England

Telephone

020 7492 2300

Email

procurement@frc.org.uk

Website

www.frc.org.uk