Published date: 3 June 2024

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


Closing: 15 December 2023, 12am

Contract summary

Industry

  • Auditing services - 79212000

Location of contract

Any region

Value of contract

£4,438,800

Procurement reference

BIP850647567

Published date

3 June 2024

Closing date

15 December 2023

Closing time

12am

Contract start date

1 April 2024

Contract end date

31 March 2028

Contract type

Service contract

Procedure type

Not specified

Contract is suitable for SMEs?

No

Contract is suitable for VCSEs?

No

Description

British Business Financial Services Ltd (BBFS Ltd), an owned subsidiary of BBB, manage the debt schemes on behalf of the Secretary of State for DBT. BBB sets the policy for the schemes, manages performance, sets Annual Lending Limits for individual Lenders, manages day-to-day operations and monitors each Lender's use of the schemes. BBB works with accredited Lenders to manage scheme performance and to raise awareness of the schemes.
Auditors are required, through the Delivery Partner (DP) Assurance Programme, to provide assurance to BBB that the participating Lender is correctly and effectively administering the scheme in line with the guarantee agreements and, where applicable, the side letters and Lending Limit Letters.  In addition, the auditors oversee corrective action plans implemented (where required) by the Lender and provide BBB with Management Information to support BBB's supervision of the schemes.
The Lender Assurance and Insights (LA&I) team, within the Small Business Lending function, administers the Assurance Programme. The Lender Audit and Assurance Forum (LAAF) oversees this activity, reporting to the Lender Performance Strategic Committee (LPSC) and Investment Committee (IC), as required.

More information

Links

Additional text

This Procurement was done via competition using the CCS RM6188 A&AS Framework Lot 2 - External audit

Award information

Awarded date

15 December 2023

Contract start date

1 April 2024

Contract end date

31 March 2028

Total value of contract

£4,438,800

This contract was awarded to 3 suppliers.

RSM UK Risk Assurance Services LLP

Address

6th Floor,
25 Farringdon Street,
London
EC4A 4AB

Reference

None

Supplier is SME?

No

KPMG LLP

Address

15 Canada Square,
London
E14 5GL

Reference

None

Supplier is SME?

No

Ernst & Young LLP

Address

1 More London Place
London
SE1 2AF

Reference

None

Supplier is SME?

No

About the buyer

Contact name

Procurement

Address

Steel City House
West Street
Sheffield
S1 2GQ
UK

Telephone

+441142127877

Email

procurement@british-business-bank.co.uk