Official UK procurement notice
Appointment of an External Auditor
Authority: FREEPORT EAST LIMITED
What is being bought
Published requirement descriptionFreeport East Ltd is seeking an independent external auditor to review the financial information of our company and report back on findings.
The Company is required to file its first set of audited Accounts (made up from 6 December 2022 to 31 March 2023; and April 2023 to 31 March 2024) with Companies House by 6 September 2024.
Our first Annual General Meeting is due to be held on 26 September 2024, and we would like to present a full set of audited accounts and the Auditors Report to our members at this meeting.
The audit process will be overseen by the company's Finance and Audit Committee, which is a sub-group of the Supervisory Board. The Finance and Audit Committee is led by the Accountable Body's Section 151 officer and whose membership includes the company's chair of the Board and another Board director. Meetings are held virtually every two months.
The Supervisory Board sets the strategic direction of Freeport East and approves the company's strategic decisions, including annual budget, business plan and longer-term strategy.
To be successful as an external auditor, you should have excellent knowledge of auditing principles, be analytical, and have good communication skills. Ultimately, we are looking for an external auditor who can make informed and rational decisions, be objective, and is detail orientated.
CPV: Business services: law, marketing, consulting, recruitment, printing and security · Financial and insurance services
The lotProcurement structure
single lot · value publishedLot #1The company is looking to appoint an external auditor for a period of 12 months, with…AwardedPublished value£10,000
The company is looking to appoint an external auditor for a period of 12 months, with the opportunity to extend the contract for a further 24 months, based on acceptable performance in the first 12 months and upon approval by the Supervisory Board.
To be successful as an external auditor, you should have excellent knowledge of auditing principles, be analytical, and have good communication skills. Ultimately, we are looking for an external auditor who can make informed and rational decisions, be objective, and is detail orientated.
External Auditor Responsibilities:
- Evaluating financial statements and assessing accounts for accuracy and compliance.
- Investigating internal systems and operations.
- Assessing risk management approaches.
- Reporting on errors and fraud.
- Providing feedback reports on findings.
External Auditor Requirements:
- CCAB qualified accountant
- Degree in accounting or finance.
- Previous experience as an external auditor.
- Experience in data analysis and reporting on finances.
- Strong knowledge of accounting principles.
- Proficiency in ERP software.
- Good decision-making abilities.
- Problem-solving skills.
- Professional and trustworthy.
What it takes to wini
How this buyer will score bids.
The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).
Evaluation split and conditions of participation as published; the tender pack may add morei
How this buyer will score bids.
The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).
- Price
- Suitability
External Auditor Requirements:
- CCAB qualified accountant
- Degree in accounting or finance.
- Previous experience as an external auditor.
- Experience in data analysis and reporting on finances.
- Strong knowledge of accounting principles.
- Proficiency in ERP software.
- Good decision-making abilities.
- Problem-solving skills.
- Professional and trustworthy.
In setting out your response to this ITT, please ensure that the following is included:
- Explain the audit approach that you will adopt and how you believe this best meets the needs of Freeport East Ltd.
- Specify the proposed team who will undertake the work, along with their skills set and ability to deliver the audit service in a timely manner.
- Demonstrate an understanding of our business and provide examples of working with similar companies.
- Outline the training programmes you have in place to ensure your staff meet continuing professional development requirements.
- Explain how you will develop your understanding of the major risks for our company and how to respond.
- Outline your approach to communication and reporting back to our Finance and Audit Committee and the planned frequency of written and verbal communications.
- Briefly outline your approach to innovation and the extent to which technology will be integrated into the audit approach (including, where relevant, use of data analytics)
- To enable us to assess compliance with independence requirements as well as your approach to ensuring …
- Economic & financial standing
Cost / Value for Money 10%
Effectiveness of the audit process 30%
Access to additional services / added value 15%
Demonstrate an understanding of our business 10%
Communication / company auditor relationship 15%
Links with geographical area 20%
- Technical & professional ability
CCAB qualified accountant
Procedure terms & legal framework
From the official record- Procedure method
- Open procedure
- Legal basis
- CELEX · 32014L0024 Public Contracts Regulations 2015 (Directive 2014/24/EU)
- Procurement category
- Services
- Notice status
- Awarded
- Procurement threshold
- Unspecified in notice
- Regulatory regime
- Standard
- Commercial structure
- Stand-alone contract (no framework)
- Competition type
- Competitive procedure
- GPA / WTO covered
- Unspecified in notice
- Recurring procurement
- No (one-off requirement)
- First published
- 6 Feb 2024, 11:37 GMT
- Last source update
- 9 Jul 2024, 13:27 BST
- Award evaluation window
- 18 Mar 2024 – …
- FTS notice number
2024/S 000-020912- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-04377aFind a Tender
How it was run
Official notice- Submission deadline
- 15 Mar 2024, 12:00 GMT
- Submission channel
- {"electronicSubmission","written"}
- Accepted languages
- en
- Bids opened
- 18 Mar 2024, 08:00 GMT
Timeline
15 Mar 2024 → 9 Jul 2024 · 3 dates- Submission deadline15 Mar 2024, 12:00 GMT
- Bids opened18 Mar 2024, 08:00 GMT
- Notice published9 Jul 2024, 13:27 BST
Notice history
1 event · 2 releases on Find a Tender- Status changed to complete9 Jul 2024, 13:27 BST
Commercial outcome & contract awards
Published awards, contracts and bid statistics, not a forecast| Awarded to | Value | Date | Status |
|---|---|---|---|
| AZETS AUDIT SERVICES LIMITED | £9,350 † | — | Awarded |
Contracts
Contract 020912-2024-1 · AZETS AUDIT SERVICES LIMITED
- Signed
- 24 Apr 2024
- Value
- £9,350
- Status
- active
Bid statistics published by the authority
| Bids | SME | VCSE | Valid bid range |
|---|---|---|---|
| 1bids | — | — | — |
Contracting authority & participating public bodies
Dispute resolution & review bodies
- East Suffolk CouncilReview body
Bidders & participating suppliers
1 commercial party on the notice- AzetsAwarded supplier
Official documents & specifications (1)
Official links; attachments are not copiedTender pack and attachments
- Technical selection criteria