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AwardedFind a Tender · award

External Audit Services

Buyer: LONDON LGPS CIV LIMITED →

BuyerLONDON LGPS CIV LIMITED
StatusAwarded
DeadlineNot published
ValueValue not published
Published2 Oct 2024

What is being bought

London CIV is authorised as an Alternative Investment Fund Manager (AIFM) and had £15.9 billion of assets under management as of 31 December 2023. In support of London CIV's strategic objectives, London CIV is seeking to appoint an independent auditor. The entities included in the tender are London LGPS CIV Ltd, 18 active funds and 2 closed funds structured under an Authorised Contractual Scheme (ACS) and 6 private market funds.

Delivery location

UK

Categories

Pension investment services 66131100

Lot details

Lot 1

Specific services will include, but will not be limited to: • Providing annual statutory and fund audits for London CIV as the AIFM and all its funds prepared in accordance with United Kingdom Generally Accepted Accounting Practice and the Companies Act 2006, Investment Association SORP or other applicable financial reporting and regulatory framework; • reporting to management, the Compliance, Audit & Risk (CARCO) Committee and the Board including attendance at meetings as appropriate in accordance with best practice; • CASS assurance audit - we do not currently hold any client money or assets , • Rates clearances on fund audits prior to year-end distribution payment.

What is included

ItemCategoryQuantity
1Not publishedNot published

Comparable-procurement analytics

Benchmarked against retained Find a Tender procedures with CPV division 66. The category anchor is Pension investment services (66131100); this is a deliberately broad market comparator. The comparison is shown at several levels rather than pretending one company or region is always the best benchmark.

Comparison setProceduresReported bids per procedureNamed award suppliersPrice evidence
Market: CPV division 662,7583 median · 17.2 average (1,184 of 2,758 with a bid count)2.5 average (1,316 of 2,758 with named award suppliers)Not published
Same buyer21 median · 1 average (1 of 2 with a bid count)1 average (1 of 2 with named award suppliers)Not published
Delivery region: UK8945 median · 28.2 average (349 of 894 with a bid count)3.3 average (388 of 894 with named award suppliers)Not published

“Reported bids” is an official aggregate, sometimes reported per lot; it is the closest available competition measure. “Named award suppliers” are winners, not all applicants.

Price-outcome signal

Not enough comparable procedures currently publish both a GBP tender value and a usable lowest-valid-bid value to calculate a responsible price-reduction benchmark. Tenderline deliberately does not infer a saving from named award suppliers or from missing award values.

Procurement strategy & market signals

Framework agreementNot published
Dynamic purchasing systemNot published
Competitive procurementNot published
Recurring requirementNot published
Procurement method rationaleNot published
Rationale classificationsNot published
Special regimeNot published
Covered byNot published
Submission policyNot published
Selection criteriaNot published
Risk detailsNot published

Planning & early market engagement

BudgetNot published
No-engagement rationaleNot published
Planning documents0
Planning milestones0

No planning milestones published.

Related procurements

No linked framework, prior procurement or reprocurement published.

Awards

Contracts

031617-2024-1

Statusactive
Value£2,000,000

Documents & submission route

No documents are published in the current source record.

Source data inventory

Diagnostic view. “Not published” means this current release does not provide a value.

OCIDocds-h6vhtk-044e1d
Latest release ID031617-2024
Latest release timestampWed Oct 02 2024 19:49:19 GMT+0000 (Coordinated Universal Time)
Sourcefind-a-tender
Official notice URLNot published
Tender statuscomplete
Procurement methodopen
Procurement method detailsOpen procedure
Main procurement categoryservices
Above thresholdNot published
Legal basis32014L0024
Tender period: startNot published
Tender period: endNot published
Expression of interest deadlineNot published
Enquiry deadlineNot published
Award period: startNot published
Award period: endNot published
Submission method detailsNot published
Submission languagesNot published
Electronic catalogue policyNot published
Total tender valueNot published
Tender lots in source1
Tender items in source1
Tender documents in source0
Awards in latest release1
Contracts in latest release1
Parties in latest release2

Notice history

DateEventReference
2 Oct 2024award, contract031617-2024
28 Mar 2024planning, tender010242-2024

All source data

Unmodified official OCDS data retained by Tenderline for this procurement process.

Complete current OCDS release JSON
{
  "id": "031617-2024",
  "tag": [
    "award",
    "contract"
  ],
  "bids": {
    "statistics": [
      {
        "id": "1",
        "value": 3,
        "measure": "bids",
        "relatedLot": "1"
      },
      {
        "id": "2",
        "value": 0,
        "measure": "smeBids",
        "relatedLot": "1"
      },
      {
        "id": "3",
        "value": 3,
        "measure": "electronicBids",
        "relatedLot": "1"
      }
    ]
  },
  "date": "2024-10-02T20:49:19+01:00",
  "ocid": "ocds-h6vhtk-044e1d",
  "buyer": {
    "id": "GB-COH-09136445",
    "name": "LONDON LGPS CIV LIMITED"
  },
  "awards": [
    {
      "id": "031617-2024-1",
      "status": "active",
      "suppliers": [
        {
          "id": "GB-COH-OC307742",
          "name": "Grant Thornton UK LLP"
        }
      ],
      "relatedLots": [
        "1"
      ]
    }
  ],
  "tender": {
    "id": "ocds-h6vhtk-044e1d",
    "lots": [
      {
        "id": "1",
        "description": "Specific services will include, but will not be limited to:\n•\tProviding annual statutory and fund audits for London CIV as the AIFM and all its funds  prepared in accordance with United Kingdom Generally Accepted Accounting Practice and the Companies Act 2006, Investment Association SORP or other applicable financial reporting and regulatory framework;\n•\treporting to management, the Compliance, Audit & Risk (CARCO) Committee and the Board including attendance at meetings as appropriate in accordance with best practice;\n•\tCASS assurance audit - we do not currently hold any client money or assets ,\n•\tRates clearances on fund audits prior to year-end distribution payment."
      }
    ],
    "items": [
      {
        "id": "1",
        "relatedLot": "1",
        "deliveryAddresses": [
          {
            "region": "UK"
          }
        ]
      }
    ],
    "title": "External Audit Services",
    "status": "complete",
    "legalBasis": {
      "id": "32014L0024",
      "scheme": "CELEX"
    },
    "description": "London CIV is authorised as an Alternative Investment Fund Manager (AIFM) and had £15.9 billion of assets under management as of 31 December 2023. In support of London CIV's strategic objectives, London CIV is seeking to appoint an independent auditor. The entities included in the tender are London LGPS CIV Ltd, 18 active funds and 2 closed funds structured under an Authorised Contractual Scheme (ACS) and 6 private market funds.",
    "classification": {
      "id": "66131100",
      "scheme": "CPV",
      "description": "Pension investment services"
    },
    "procurementMethod": "open",
    "mainProcurementCategory": "services",
    "procurementMethodDetails": "Open procedure"
  },
  "parties": [
    {
      "id": "GB-COH-09136445",
      "name": "LONDON LGPS CIV LIMITED",
      "roles": [
        "buyer"
      ],
      "address": {
        "region": "UKI44",
        "locality": "LONDON",
        "postalCode": "SE10NZ",
        "countryName": "United Kingdom",
        "streetAddress": "4th Floor,Crane Building, 22 Lavington Street"
      },
      "details": {
        "url": "http://www.londonciv.org.uk",
        "classifications": [
          {
            "id": "BODY_PUBLIC",
            "scheme": "TED_CA_TYPE",
            "description": "Body governed by public law"
          },
          {
            "scheme": "COFOG",
            "description": "Pensions"
          }
        ]
      },
      "identifier": {
        "id": "09136445",
        "scheme": "GB-COH",
        "legalName": "LONDON LGPS CIV LIMITED"
      },
      "contactPoint": {
        "name": "Ian Inglis",
        "email": "ian.inglis@londonciv.org.uk",
        "telephone": "+44 2080369030"
      }
    },
    {
      "id": "GB-COH-OC307742",
      "name": "Grant Thornton UK LLP",
      "roles": [
        "supplier"
      ],
      "address": {
        "region": "UK",
        "locality": "London",
        "countryName": "United Kingdom"
      },
      "identifier": {
        "id": "OC307742",
        "scheme": "GB-COH",
        "legalName": "Grant Thornton UK LLP"
      }
    }
  ],
  "language": "en",
  "contracts": [
    {
      "id": "031617-2024-1",
      "value": {
        "amount": 2000000,
        "currency": "GBP"
      },
      "status": "active",
      "awardID": "031617-2024-1"
    }
  ],
  "initiationType": "tender"
}
Complete JSON history (2 releases)
2 Oct 2024 · 031617-2024 · award, contract
{
  "id": "031617-2024",
  "tag": [
    "award",
    "contract"
  ],
  "bids": {
    "statistics": [
      {
        "id": "1",
        "value": 3,
        "measure": "bids",
        "relatedLot": "1"
      },
      {
        "id": "2",
        "value": 0,
        "measure": "smeBids",
        "relatedLot": "1"
      },
      {
        "id": "3",
        "value": 3,
        "measure": "electronicBids",
        "relatedLot": "1"
      }
    ]
  },
  "date": "2024-10-02T20:49:19+01:00",
  "ocid": "ocds-h6vhtk-044e1d",
  "buyer": {
    "id": "GB-COH-09136445",
    "name": "LONDON LGPS CIV LIMITED"
  },
  "awards": [
    {
      "id": "031617-2024-1",
      "status": "active",
      "suppliers": [
        {
          "id": "GB-COH-OC307742",
          "name": "Grant Thornton UK LLP"
        }
      ],
      "relatedLots": [
        "1"
      ]
    }
  ],
  "tender": {
    "id": "ocds-h6vhtk-044e1d",
    "lots": [
      {
        "id": "1",
        "description": "Specific services will include, but will not be limited to:\n•\tProviding annual statutory and fund audits for London CIV as the AIFM and all its funds  prepared in accordance with United Kingdom Generally Accepted Accounting Practice and the Companies Act 2006, Investment Association SORP or other applicable financial reporting and regulatory framework;\n•\treporting to management, the Compliance, Audit & Risk (CARCO) Committee and the Board including attendance at meetings as appropriate in accordance with best practice;\n•\tCASS assurance audit - we do not currently hold any client money or assets ,\n•\tRates clearances on fund audits prior to year-end distribution payment."
      }
    ],
    "items": [
      {
        "id": "1",
        "relatedLot": "1",
        "deliveryAddresses": [
          {
            "region": "UK"
          }
        ]
      }
    ],
    "title": "External Audit Services",
    "status": "complete",
    "legalBasis": {
      "id": "32014L0024",
      "scheme": "CELEX"
    },
    "description": "London CIV is authorised as an Alternative Investment Fund Manager (AIFM) and had £15.9 billion of assets under management as of 31 December 2023. In support of London CIV's strategic objectives, London CIV is seeking to appoint an independent auditor. The entities included in the tender are London LGPS CIV Ltd, 18 active funds and 2 closed funds structured under an Authorised Contractual Scheme (ACS) and 6 private market funds.",
    "classification": {
      "id": "66131100",
      "scheme": "CPV",
      "description": "Pension investment services"
    },
    "procurementMethod": "open",
    "mainProcurementCategory": "services",
    "procurementMethodDetails": "Open procedure"
  },
  "parties": [
    {
      "id": "GB-COH-09136445",
      "name": "LONDON LGPS CIV LIMITED",
      "roles": [
        "buyer"
      ],
      "address": {
        "region": "UKI44",
        "locality": "LONDON",
        "postalCode": "SE10NZ",
        "countryName": "United Kingdom",
        "streetAddress": "4th Floor,Crane Building, 22 Lavington Street"
      },
      "details": {
        "url": "http://www.londonciv.org.uk",
        "classifications": [
          {
            "id": "BODY_PUBLIC",
            "scheme": "TED_CA_TYPE",
            "description": "Body governed by public law"
          },
          {
            "scheme": "COFOG",
            "description": "Pensions"
          }
        ]
      },
      "identifier": {
        "id": "09136445",
        "scheme": "GB-COH",
        "legalName": "LONDON LGPS CIV LIMITED"
      },
      "contactPoint": {
        "name": "Ian Inglis",
        "email": "ian.inglis@londonciv.org.uk",
        "telephone": "+44 2080369030"
      }
    },
    {
      "id": "GB-COH-OC307742",
      "name": "Grant Thornton UK LLP",
      "roles": [
        "supplier"
      ],
      "address": {
        "region": "UK",
        "locality": "London",
        "countryName": "United Kingdom"
      },
      "identifier": {
        "id": "OC307742",
        "scheme": "GB-COH",
        "legalName": "Grant Thornton UK LLP"
      }
    }
  ],
  "language": "en",
  "contracts": [
    {
      "id": "031617-2024-1",
      "value": {
        "amount": 2000000,
        "currency": "GBP"
      },
      "status": "active",
      "awardID": "031617-2024-1"
    }
  ],
  "initiationType": "tender"
}
28 Mar 2024 · 010242-2024 · planning, tender
{
  "id": "010242-2024",
  "tag": [
    "planning",
    "tender"
  ],
  "date": "2024-03-28T11:35:17Z",
  "ocid": "ocds-h6vhtk-044e1d",
  "buyer": {
    "id": "GB-COH-9136445",
    "name": "LONDON LGPS CIV LIMITED"
  },
  "tender": {
    "id": "ocds-h6vhtk-044e1d",
    "lots": [
      {
        "id": "1",
        "value": {
          "amount": 2000000,
          "currency": "GBP"
        },
        "status": "active",
        "description": "External audit services for company and funds.\nThe ITN document may be obtained via email to ian.inglis@londonciv.org.uk Additional information: Initial 5 year contract with a break clause at year 3.",
        "contractPeriod": {
          "durationInDays": 1800
        }
      }
    ],
    "items": [
      {
        "id": "1",
        "relatedLot": "1",
        "deliveryLocation": {
          "description": "Supplier must be a UK based entity with ability to attend onsite meetings on an adhoc basis."
        },
        "deliveryAddresses": [
          {
            "region": "UKI"
          }
        ]
      }
    ],
    "title": "External Audit Services",
    "value": {
      "amount": 2000000,
      "currency": "GBP"
    },
    "status": "active",
    "legalBasis": {
      "id": "32014L0024",
      "scheme": "CELEX"
    },
    "awardPeriod": {
      "startDate": "2024-10-01T00:00:00+01:00"
    },
    "description": "London CIV is authorised as an Alternative Investment Fund Manager (AIFM) and had £15.9 billion of assets under management as of 31 December 2023. In support of London CIV's strategic objectives, London CIV is seeking to appoint an independent auditor. The entities included in the tender are London LGPS CIV Ltd, 18 active funds and 2 closed funds structured under an Authorised Contractual Scheme (ACS) and 6 private market funds.",
    "tenderPeriod": {
      "endDate": "2024-04-30T17:00:00+01:00"
    },
    "contractTerms": {
      "electronicInvoicingPolicy": "allowed"
    },
    "classification": {
      "id": "66131100",
      "scheme": "CPV",
      "description": "Pension investment services"
    },
    "submissionTerms": {
      "languages": [
        "en"
      ]
    },
    "submissionMethod": [
      "written"
    ],
    "otherRequirements": {
      "reductionCriteria": "ITN document may be obtained on request via email to ian.inglis@londonciv.org.uk",
      "requiresStaffNamesAndQualifications": true
    },
    "procurementMethod": "open",
    "selectionCriteria": {
      "criteria": [
        {
          "type": "technical",
          "description": "Supplier must be an FCA approved auditor"
        }
      ]
    },
    "mainProcurementCategory": "services",
    "procurementMethodDetails": "Open procedure"
  },
  "parties": [
    {
      "id": "GB-COH-9136445",
      "name": "LONDON LGPS CIV LIMITED",
      "roles": [
        "buyer"
      ],
      "address": {
        "region": "UKI44",
        "locality": "LONDON",
        "postalCode": "SE10NZ",
        "countryName": "United Kingdom",
        "streetAddress": "4th Floor,Crane Building, 22 Lavington Street"
      },
      "details": {
        "url": "https://londonciv.org.uk/",
        "classifications": [
          {
            "id": "BODY_PUBLIC",
            "scheme": "TED_CA_TYPE",
            "description": "Body governed by public law"
          },
          {
            "id": "04",
            "scheme": "COFOG",
            "description": "Economic affairs"
          }
        ]
      },
      "identifier": {
        "id": "9136445",
        "scheme": "GB-COH",
        "legalName": "LONDON LGPS CIV LIMITED"
      },
      "contactPoint": {
        "name": "Ian Inglis",
        "email": "ian.inglis@londonciv.org.uk",
        "telephone": "+44 2080369030"
      }
    }
  ],
  "language": "en",
  "initiationType": "tender"
}