Official UK procurement notice
Board Effectiveness Review — UK public procurement notice
Authority: THE FINANCIAL REPORTING COUNCIL LIMITED (Central government)
What is being bought
Published requirement descriptionBACKGROUND
The Financial Reporting Council (FRC) regulates auditors, accountants and actuaries and sets the UK's Corporate Governance and Stewardship Codes. As the Competent Authority for audit in the UK, we set auditing and ethical standards and monitor and enforce audit quality.
The purpose of the FRC is to serve the public interest and support UK economic growth by upholding high standards of corporate governance, corporate reporting, audit and actuarial work.
The FRC's core objectives are to promote high-quality corporate governance and reporting, support effective audit and actuarial work, hold relevant parties to account through proportionate supervision and enforcement, and contribute to well-functioning UK capital markets in the public interest.
PROJECT REQUIREMENTS
The Board of the Financial Reporting Council (FRC) is made up of non-executive and executive directors and is collectively responsible for the long-term success of the FRC. All Board Members, including the CEO and Chair, are appointed by the Secretary of State for Business, Innovation, Science and Trade.
The Board's role is to provide strategic leadership of the FRC within a framework of prudent and effective controls which enables risk to be assessed and managed. The Board sets the FRC's strategic aims, ensures that the necessary financial and human resources are in place for the FRC to meet its objectives and reviews management performance.
Read the full description (1,077 more characters)
The Board also sets the FRC's values and culture and ensures that its obligations to its stakeholders and others are understood and met. All directors must act in what they consider to be the best interests of the FRC, consistent with their statutory duties. For further information see FRC Board
The UK Corporate Governance Code requires that companies which follow the Code should consider undertaking an externally facilitated Board effectiveness review every three years.
THIS TENDER
The FRC is seeking an experienced, independent external reviewer to undertake a Board Effectiveness Review covering the Board, its Committees and wider governance arrangements.
PLEASE REFER TO THE INVITATION TO TENDER (ITT) FOR FULL DETAILS INCLUDING HOW TO SUBMIT YOUR TENDER
IMPORTANT:
• Please register your interest (and raise any tender queries) by emailing the FRC's procurement team - [email protected]
• The FRC will share all tender queries and answers with those that have registered.
• Your tender submission must be submitted within the deadline by email to [email protected]
CPV: Business analysis consultancy services · Business and management consultancy and related services · Performance review services
The lotProcurement structure
single lot · value publishedLot #1Lot 1RenewalPublished value£75,000
- Value
- £75,000 exc. VAT · £93,750 inc. VAT
- Extensions
- The FRC reserves the right to procure further Services of the same / related nature. · Further four (4) months.
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).
• Conflict of Interest • Quality • Price PLEASE REFER TO THE INVITATION TO TENDER (ITT)
- Condition of participation
The FRC performs functions of public importance, including the regulation of entities that may be interested in participating in this Procurement. Tenderers should carefully consider, before submitting a Tender, whether their participation could give rise to more…
an actual, potential or perceived conflict of interest, including any perception that the FRC's independence, impartiality or reputation could be compromised. Where such a conflict or perceived conflict may arise, Tenderers are expected to assess whether it is appropriate for them to participate in the Procurement and, where relevant, to provide full details of the circumstances and any proposed measures to manage, mitigate or remove the conflict. The FRC will assess any actual, potential or perceived conflict, and any proposed mitigation, objectively. If the FRC is not satisfied that the conflict can be adequately managed, mitigated or removed, the FRC reserves the right to exclude the Tenderer from further participation in this Procurement.
Competition analysis · published record, not a forecast of who will bid
How THE FINANCIAL REPORTING COUNCIL LIMITED buys Systems and technical consultancy services (CPV 7222) — and who usually turns up
THE FINANCIAL REPORTING COUNCIL LIMITED’s own published record, next to the West Midlands market for the same work. Frameworks and DPS are kept out: they attract a different number of bids. Whole-market view: Systems and technical consultancy services (CPV 7222) →
How the contest usually goes
Left: this authority. Right: the market where the work is delivered. Bids and award-vs-estimate pairs are per lot, from contested contracts only — direct awards (including PA 2023 transparency notices) report one bid by definition and are left out. On Procurement Act 2023 notices the count is the tenders assessed at the final stage, not every submission received; pairs compare like with like (VAT-exclusive, or VAT-inclusive on both sides). Empty means nothing was published, not filled in from elsewhere.
THE FINANCIAL REPORTING COUNCIL LIMITED
contract notices in 36 months: 1 in CPV 7222 (1 without competition) · 5 in division 72 (2 without competition) · 19 in all categories (5 without competition · 1 route not published)
i
How many companies usually bid for work like this.
Middle value of published bid counts, one per lot, for this buyer or this region in the same sector.
Based on this buyer’s tenders in all categories, last 36 months: 4 lots. 2 lots are from Procurement Act 2023 notices (bids assessed, middle 10.5) and 2 from older notices (bids received, middle 1.5).
Nothing is filled in from UK-wide numbers. An empty tile means nothing usable was published.
i
How often only one company bid.
Share of lots that received exactly one bid, on the same competitions as the bids figure.
Based on this buyer’s tenders in all categories, last 36 months: 4 lots.
High means a thin market or an incumbent that is hard to beat.
i
Do awards for work like this land above or below the estimate.
Estimate against award per lot, for this buyer or this region in the same sector.
Based on this buyer’s tenders in all categories, last 36 months: 8 pairs.
A past pattern, not a price to bid.
i
How long buyers here take to decide after bids close.
Middle value in days from the deadline to the first award notice, on competitions that published both dates.
Based on this buyer’s tenders in this industry (CPV 72), last 36 months: 1 notices. Small sample.
Only decided tenders count, so slow ones still waiting are not in.
i
How often this buyer changes a notice after publishing it.
Middle number of amendments per notice. Deadline extensions and corrections both count.
Based on this buyer’s tenders in all categories, last 24 months: 25 notices.
i
How often this buyer awards without a competition.
Direct or limited awards as a share of its notices that say which procedure was used. These routes are legal in defined cases. This is just the record.
Based on this buyer’s tenders in this industry (CPV 72), last 36 months: 5 notices.
West Midlands · Systems and technical consultancy services (CPV 7222)
contract notices delivered in West Midlands in 36 months: 78 in CPV 7222 (40 competed, 18 route not published) · 553 in division 72 (240 competed, 135 route not published)
i
How many companies usually bid for work like this.
Middle value of published bid counts, one per lot, for this buyer or this region in the same sector.
Based on this region’s tenders in this sector (CPV 7222), last 36 months: 19 lots. 10 lots are from Procurement Act 2023 notices (bids assessed, middle 4) and 9 from older notices (bids received, middle 4).
Nothing is filled in from UK-wide numbers. An empty tile means nothing usable was published.
i
How often only one company bid.
Share of lots that received exactly one bid, on the same competitions as the bids figure.
Based on this region’s tenders in this sector (CPV 7222), last 36 months: 19 lots.
High means a thin market or an incumbent that is hard to beat.
i
Do awards for work like this land above or below the estimate.
Estimate against award per lot, for this buyer or this region in the same sector.
Based on this region’s tenders in this sector (CPV 7222), last 36 months: 17 pairs.
A past pattern, not a price to bid.
i
How long buyers here take to decide after bids close.
Middle value in days from the deadline to the first award notice, on competitions that published both dates.
Based on this region’s tenders in this sector (CPV 7222), last 36 months: 10 notices.
Only decided tenders count, so slow ones still waiting are not in.
i
How much of this market goes to small and medium firms.
SME bidders where buyers published the split, otherwise SME winners.
Based on this region’s tenders in this sector (CPV 7222), last 36 months: 14 lots.
i
How much work like this goes to companies based in the delivery region.
Awards in this category delivered here where the winner’s registered address is in the region.
Based on this region’s tenders in this sector (CPV 7222), last 36 months: 37 awards.
Registered address, so a national firm with a local branch counts as outside.
i
Where this tender’s estimate would land if the usual pattern repeats.
We apply the buyer’s usual movement between estimate and award (or the region’s) to the estimate on this notice.
Based on this buyer’s own usual movement over 8 lots (all categories), applied to the £75,000 estimate on this notice.
A benchmark, not a price to bid.
Coverage and what to read with care
- Each tile explains itself. The on a figure says what it is, how it is counted and which scope this notice’s own record came from (class, division, all categories, or the authority’s 24-month row). The two columns are never blended and nothing is filled from a UK-wide figure; an empty tile means the source published nothing usable. Long form: Methodology.
- Coverage. Roughly 40 % of notices publish a bid count; about half publish an ITL1 delivery location, so the market column reads the authority’s registered region when the notice has none (labelled). About 30 % of award-vs-estimate pairs are exact matches — the buyer published the award at the estimate. n is on every figure; a thin sample is muted, never hidden.
- “Match” and “relevance” are model scores from the nightly matcher, not published facts. Find a Tender does not publish who is bidding. Never shown: contact details, payment behaviour, or a recommended price.
Procedure terms & legal framework
From the official record- Procedure method
- Below threshold - open competition
- Legal basis
- UKPGA · 2023/54 Procurement Act 2023
- Procurement category
- Services
- Notice status
- Open for tender
- Procurement threshold
- Below threshold
- 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
- 28 Sept 2026, 12:25 BST
- Last source update
- 28 Sept 2026, 12:25 BST
- Authority reference
FRC2026-084- Latest notice
- Tender notice (UK4)
- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-077b73Find a Tender
How to participate & submission route
Official notice Submit via portal- Expression of interest (EOI)
- —
- Tender submission deadline
- 23 Oct 2026, 12:00 BST
- Clarification deadline
- 16 Oct 2026, 12:00 BST
- Submission channel
- Official e-sourcing portal
- Electronic submission
- Allowed
Timeline
4 published dates · Europe/London- Tender notice publishedearlier today28 Sept 2026, 12:25 BST
- Clarification questions byin 18 days16 Oct 2026, 12:00 BST
- Submission deadlinein 25 days23 Oct 2026, 12:00 BST
- Contract startsin 69 days7 Dec 2026, 00:00 GMT
Commercial outcome & contract awards
Nothing awarded yet- Awards (0)
- No award published
- Contracts (0)
- No contract published
- Bid statistics
- No aggregate bid statistics published
Notice history
1 event · 1 release on Find a Tender- Tender notice published28 Sept 2026, 12:25 BSTUK4
Contracting authority & participating public bodies
Official documents & specifications (3)
Official links; attachments are not copiedTender pack and attachments
Notices published for this procedure
- Tender notice Tender notice on Find a Tender