Published date: 24 May 2018

Last edited date: 24 May 2018

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


Closing: 7 November 2017

Contract summary

Industry

  • Business and management consultancy services - 79410000

Location of contract

West Midlands, London

Value of contract

£0 to £144,000

Procurement reference

PROC.04.0133

Published date

24 May 2018

Closing date

7 November 2017

Contract start date

30 November 2017

Contract end date

28 February 2018

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

Ofwat has a temporary opportunity for one or two experienced regulatory accountants, financial analysts, audit and assurance or corporate finance specialists to assist us with scutinising company financial information to identify key financial risks, fully research and assess the scale of the issues and propose next steps.

Due to the proactive nature of the finance and governance programme and the changing environment the sector is operating in, it is not possible to provide a full description of the key responsibilities required. But to provide context we have included details of some possible work packages required.

• Financial flows - work to identify and understand financial flows between the regulated company and it's owners/investors. Initially based on statutory accounts, this could also require correspondence or queries with companies, as well as face to face meetings.
• Non-appointed income - work to identify and compare companies' reporting of non-appointed income to identify outliers and review against our regulatory reporting guidance.
• Leases - work to consider the potential impact of future changes to reporting of leases (IFRS16). Looking to identify the impact on companies.

Potential outputs
The successful candidates will take responsibility for delivery of specified work packages relating to financial risks. This will involve detailed analysis and review of companies' financial information from a variety of sources. Gathering further information through correspondence and meeting with companies.

• Prepare analysis of findings for programme board papers with recommendations and next steps.
• Where future information capture is considered appropriate, working with colleagues to draft data requirements for inclusion into our Regulatory Accounting Guidelines (RAGs).

The successful candidates will be required to work collaboratively with the internal Ofwat programme team and other colleagues across the organisation. This will include discussing the results, highlighting issues and suggesting potential areas for further work.

More information

Attachments

Award information

Awarded date

28 November 2017

Contract start date

30 November 2017

Contract end date

28 February 2018

Total value of contract

£144,000

This contract was awarded to 1 supplier.

Deloitte LLP

Address

Athene Place
66 Shoe Lane
London
EC4A 3BQ

Reference

Companies House number: OC303675

Value of contract

£144,000

Supplier is SME?

No

Supplier is VCSE?

No

Additional details

2 Key Personnel were appointed

About the buyer

Address

Centre City Tower
7 Hill Street
Birmingham
B5 4UA
England

Email

mailbox@ofwat.gsi.gov.uk