Published date: 19 January 2024

This notice was replaced on 8 March 2024

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

Awarded contract (published 8 March 2024)

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

  • Business services: law, marketing, consulting, recruitment, printing and security - 79000000

Location of contract

London

Value of contract

£60,000 to £168,000

Procurement reference

FRC2023-0113

Published date

19 January 2024

Closing date

14 February 2024

Closing time

12pm

Contract start date

2 September 2024

Contract end date

1 September 2027

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?

No

Description

The purpose of the Financial Reporting Council (FRC) is to serve the public interest by setting high standards in corporate governance and stewardship, corporate reporting, auditing and actuarial work, assessing the effectiveness of the application of those standards and enforcing those standards proportionately where it is in the public interest.

Our Enforcement Division, led by our Executive Counsel, is responsible for conducting investigations under our main enforcement procedures. Decisions to open investigations and to refer them to the Enforcement Division, are made by the FRC's Conduct Committee where it considers there may have been misconduct or a breach of the relevant professional standards.

As the UK's competent authority for statutory audit and the independent disciplinary body for accountants and actuaries in public interest cases, the FRC is committed to delivering robust, fair and transparent regulatory outcomes on a timely basis.

In the financial year ending 31 March 2023, the FRC's Enforcement Division resolved 19 cases and imposed financial sanctions of £40.5m, including a sanction of £20m.

Many investigations are concluded through settlement. In such cases, a member of the Tribunal Panel will be appointed to consider and approve the settlement agreement.

However, a small number of cases will be referred on to the Tribunal stage, where an independent public Tribunal is convened to consider the matters brought to it. Tribunals will be convened from three or five members of the Tribunal Panel and will include at least a legal chair, a member of the relevant profession and a lay member.

The FRC wishes to appoint a new Convener & Tribunal Secretary of the Tribunal Panel, a role formally provided for under the FRC's enforcement procedures.

The role of the Convener & Tribunal Secretary includes (however is not limited to):
• Appointing the Chair of the Tribunal from the Panel and, with the support of the Chair, appointing a Tribunal or Appeal Tribunal from members of the Tribunal Panel, with due regard for availability, experience, expertise and potential conflicts of interest of the Tribunal Panel members.
• Appointing replacement members to an ongoing Tribunal, Joint Tribunal or Appeal Tribunal, should this be required.
• Appointing legal chair members of the Tribunal Panel to consider Proposed Settlement Agreements under the Schemes and Proposed Decision Notices or Proposed Settlement Decision Notices under the AEP.
• Appointing legal chair members to consider applications for the interim orders or leave to appeal.
• Appointing an Independent Sanctions Tribunal from members of the Tribunal Panel.
• Managing hearings by acting as the Tribunal Clerk/Administrative Officer.

PLEASE SEE THE INVITATION TO TENDER (ITT) 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.

• Note :
The initial term of appointment will be for three (3) years, with the option to extend for a further three-years.

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

Website

https://www.frc.org.uk