Published date: 2 June 2017

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


Closing: 31 March 2017

Contract summary

Industry

  • Internal audit services - 79212200

Location of contract

West Midlands, London

Value of contract

£0 to £72,600

Procurement reference

PROC.01.0532

Published date

2 June 2017

Closing date

31 March 2017

Contract start date

3 April 2017

Contract end date

31 May 2018

Contract type

Service contract

Procedure type

Direct award

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

No

Description

The Customer's statutory accounts are audited by the National Audit Office (NAO), who fulfil the role of external auditor. It is essential that Internal Audit (IA) liaise and work effectively with the NAO to ensure internal audits are completed to a high standard and meet NAO's assurance requirements for the external audit.

Objective

The IA provider must provide an independent assurance service for management by measuring and evaluating the adequacy, reliability and effectiveness of management and financial control systems.

IA will be required to make recommendations based on the appraisal of each system reviewed and to provide an annual assurance report to the Accounting Officer (AO) and Audit and Risk Assurance Committee (ARAC).

Scope and Key Tasks

The Customer anticipates that circa 70 audit days will be used in the financial year.

The Customer and the Supplier will agree an audit plan at the start of the financial year and will detail the audits required during the financial year. The audit plan will be subject to refinement throughout the year. Any work undertaken should be with the approval of the General Counsel, Executive, or her nominated representative, Delivery Director, Operations.

1. Ad-hoc Service Provision

The Customer may require the Supplier to carry out ad-hoc work from time to time, such as:

• value for money reviews;
• tax advice;
• fraud investigations;
• special investigation; or
• areas of high regulatory risk.

More information

Attachments

Award information

Awarded date

1 April 2017

Contract start date

3 April 2017

Contract end date

31 May 2018

Total value of contract

£72,600

This contract was awarded to 1 supplier.

Grant Thornton UK LLP

Address

30 Finsbury Square
London
EC2P 2YU

Reference

None

Supplier is SME?

No

Supplier is VCSE?

No

About the buyer

Address

Centre City Tower
7 Hill Street
Birmingham
B5 4UA
England

Email

mailbox@ofwat.gsi.gov.uk