Published date: 21 October 2021
Awarded contract - This means that the contract has been awarded to a supplier.
Contract summary
Industry
Auditing services - 79212000
Location of contract
SW1W 9SP
Value of contract
£15,200 to £18,240
Procurement reference
C-2060
Published date
21 October 2021
Closing date
1 March 2021
Closing time
5pm
Contract start date
1 April 2021
Contract end date
31 July 2021
Contract type
Service contract
Procedure type
Call-off from a framework agreement
A mini-competition or direct purchase from a pre-established framework agreement.
Contract is suitable for SMEs?
Yes
Contract is suitable for VCSEs?
No
Description
The supplier will provide their proposals including details of their team's expertise and independence to carry out the work in early April for the NAO.
The NAO will provide the necessary evidence and selected samples for the supplier in mid-April (contingent on Highways England's provision of these items to the NAO), and will liaise with Highways England where further explanations or assumptions are required.
The supplier will complete its work through April and May on the below:
• Review of VOA's methodology for calculating the land and property liabilities and confirmation that this is in line with the Compensation Code.
• The supplier will review a sample of 5 valuations supporting land and property provisions to assess whether, based on the information provided in the detailed valuation, the key assumptions and judgements are materially consistent with the Compensation Code in terms of providing a reasonable estimate for HE valuation on the anticipated forecast outturn cost to settle compensation. This should also confirm that the area of land included in the liability is appropriate. These valuations will, depending on sample selection, cover multiple properties (e.g. where they cover the acquisition area for a whole road scheme) and so some degree of consideration of items contributing to the overall valuation may be necessary in these larger samples, as opposed to them being tightly restricted to a single property. Regardless of item size, we would in each case be looking for the auditor's expert to assess the material reasonableness of the valuation in question.
Supplier to produce a report on their findings on the above work not later than late May 2021, with early delivery preferred. This report will be compliant with the technical standards applicable to this type of work and will contain reference to their qualifications to support the NAO in our assessment of the contractor as auditor's experts under ISA 620. The report should include confirmation of the contractor's independence to act as an auditors' experts. This should include details of any interests and relationships that may create a threat to the contractor's objectivity.
NAO will pay undisputed invoices within 30 days of receipt of the final report output.
Award information
Awarded date
15 March 2021
Contract start date
1 April 2021
Contract end date
31 July 2021
Total value of contract
£18,240
This contract was awarded to 1 supplier.
FRANK KNIGHT LIMITED
Address
55 Baker Street
W1U 8AN
GBReference
Companies House number: 02059284
Supplier is SME?
Yes
Supplier is VCSE?
No
About the buyer
Contact name
Tania Khan
Address
157-197 Buckingham Palace Road
LONDON
SW1W9SP
England
Telephone
02077987000
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Closing: 1 March 2021, 5pm
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