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plannedFind a Tender · planning

External Audit Services - Soft Market Engagement

Buyer: UNIVERSITY OF SOUTHAMPTON →

BuyerUNIVERSITY OF SOUTHAMPTON
Statusplanned
DeadlineNot published
Value£800,000
Published17 Jan 2022

What is being bought

The University is looking to tender, in the near future, its requirement for a supplier to provide external audit services and would like to engage with the marketplace by means of discussions via individual virtual meetings to help enable the University to understand the dynamics of the current marketplace and to enable the opportunity for potential suppliers to ask us any questions or raise any issues directly with the people that matter - the day-to-day end users and owners of the future contract. This exercise is not a call for competition but engagement with the market to help inform our procurement approach in future. The University envisages the scope of the contract to include the below: • External audit of the annual consolidated financial statements of the University of Southampton; • External audit of the annual financial statements of relevant subsidiary companies; • External audit of the annual accounts for the University of Southampton Pension and Assurance Scheme (PASNAS); • Audits relating to the National College for Teaching and Learning, and the Teachers' Pension Scheme contributions and the Federal Family Education Loan Program Compliance report; • Supporting the University in complying with the reporting requirements of a Public Interest Entity and Financial Conduct Authority's Disclosure and Transparency Rules (DTR) in relation to the University's debt securities. For a University of the complexity and size of Southampton, the external auditor would need access to specialist audit skills, be familiar with specific higher education issues and bring relevant knowledge of the large business units operating within the University (e.g. academic faculties, catering, estates, library services etc.). The auditor must be aware of developments within Higher Education particularly where these may have mandatory applications to institutions and/or potentially have significant financial effects.

Delivery location

UKJ32

Categories

Statutory audit services 79212300Auditing services 79212000

Lot details

Lot 1

The University envisages the scope of the contract to include the below: • External audit of the annual consolidated financial statements of the University of Southampton; • External audit of the annual financial statements of relevant subsidiary companies; • External audit of the annual accounts for the University of Southampton Pension and Assurance Scheme (PASNAS); • Audits relating to the National College for Teaching and Learning, and the Teachers' Pension Scheme contributions and the Federal Family Education Loan Program Compliance report; • Supporting the University in complying with the reporting requirements of a Public Interest Entity and Financial Conduct Authority's Disclosure and Transparency Rules (DTR) in relation to the University's debt securities. For a University of the complexity and size of Southampton, the external auditor would need access to specialist audit skills, be familiar with specific higher education issues and bring relevant knowledge of the large business units operating within the University (e.g. academic faculties, catering, estates, library services etc.). The auditor must be aware of developments within Higher Education particularly where these may have mandatory applications to institutions and/or potentially have significant financial effects.

Statusplanned

What is included

ItemCategoryQuantity
1Statutory audit servicesNot published

Comparable-procurement analytics

Benchmarked against retained Find a Tender procedures with CPV division 79. The category anchor is Statutory audit services (79212300); 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 7913,7414 median · 30.9 average (5,804 of 13,741 with a bid count)3.2 average (6,509 of 13,741 with named award suppliers)1 comparable price pairs
Same buyer1Not publishedNot publishedNot published
Delivery region: UKJ32313 median · 5.5 average (14 of 31 with a bid count)1 average (15 of 31 with named award suppliers)Not published
Similar published value (0.5×–2×)9654 median · 4.9 average (15 of 965 with a bid count)1.4 average (15 of 965 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 byGPA
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.

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-030bf2
Latest release ID001369-2022
Latest release timestampMon Jan 17 2022 17:02:12 GMT+0000 (Coordinated Universal Time)
Sourcefind-a-tender
Official notice URLNot published
Tender statusplanned
Procurement methodNot published
Procurement method detailsNot published
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 value£800,000
Tender lots in source1
Tender items in source1
Tender documents in source0
Awards in latest release0
Contracts in latest release0
Parties in latest release1

Notice history

DateEventReference
17 Jan 2022planning001369-2022

All source data

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

Complete current OCDS release JSON
{
  "id": "001369-2022",
  "tag": [
    "planning"
  ],
  "date": "2022-01-17T17:02:12Z",
  "ocid": "ocds-h6vhtk-030bf2",
  "buyer": {
    "id": "GB-FTS-23007",
    "name": "UNIVERSITY OF SOUTHAMPTON"
  },
  "tender": {
    "id": "2021UoS-0241",
    "lots": [
      {
        "id": "1",
        "status": "planned",
        "description": "The University envisages the scope of the contract to include the below: \n•\tExternal audit of the annual consolidated financial statements of the University of Southampton; \n•\tExternal audit of the annual financial statements of relevant subsidiary companies; \n•\tExternal audit of the annual accounts for the University of Southampton Pension and Assurance Scheme (PASNAS); \n•\tAudits relating to the National College for Teaching and Learning, and the Teachers' Pension Scheme contributions and the Federal Family Education Loan Program Compliance report;\n•\tSupporting the University in complying with the reporting requirements of a Public Interest Entity and Financial Conduct Authority's Disclosure and Transparency Rules (DTR) in relation to the University's debt securities.\nFor a University of the complexity and size of Southampton, the external auditor would need access to specialist audit skills, be familiar with specific higher education issues and bring relevant knowledge of the large business units operating within the University (e.g. academic faculties, catering, estates, library services etc.). The auditor must be aware of developments within Higher Education particularly where these may have mandatory applications to institutions and/or potentially have significant financial effects."
      }
    ],
    "items": [
      {
        "id": "1",
        "relatedLot": "1",
        "deliveryAddresses": [
          {
            "region": "UKJ32"
          }
        ],
        "additionalClassifications": [
          {
            "id": "79212300",
            "scheme": "CPV",
            "description": "Statutory audit services"
          }
        ]
      }
    ],
    "title": "External Audit Services - Soft Market Engagement",
    "value": {
      "amount": 800000,
      "currency": "GBP"
    },
    "status": "planned",
    "coveredBy": [
      "GPA"
    ],
    "legalBasis": {
      "id": "32014L0024",
      "scheme": "CELEX"
    },
    "description": "The University is looking to tender, in the near future, its requirement for a supplier to provide external audit services and would like to engage with the marketplace by means of discussions via individual virtual meetings to help enable the University to understand the dynamics of the current marketplace and to enable the opportunity for potential suppliers to ask us any questions or raise any issues directly with the people that matter - the day-to-day end users and owners of the future contract. \nThis exercise is not a call for competition but engagement with the market to help inform our procurement approach in future.\nThe University envisages the scope of the contract to include the below: \n•\tExternal audit of the annual consolidated financial statements of the University of Southampton; \n•\tExternal audit of the annual financial statements of relevant subsidiary companies; \n•\tExternal audit of the annual accounts for the University of Southampton Pension and Assurance Scheme (PASNAS); \n•\tAudits relating to the National College for Teaching and Learning, and the Teachers' Pension Scheme contributions and the Federal Family Education Loan Program Compliance report;\n•\tSupporting the University in complying with the reporting requirements of a Public Interest Entity and Financial Conduct Authority's Disclosure and Transparency Rules (DTR) in relation to the University's debt securities.\nFor a University of the complexity and size of Southampton, the external auditor would need access to specialist audit skills, be familiar with specific higher education issues and bring relevant knowledge of the large business units operating within the University (e.g. academic faculties, catering, estates, library services etc.). The auditor must be aware of developments within Higher Education particularly where these may have mandatory applications to institutions and/or potentially have significant financial effects.",
    "communication": {
      "futureNoticeDate": "2022-06-01T00:00:00+01:00"
    },
    "classification": {
      "id": "79212000",
      "scheme": "CPV",
      "description": "Auditing services"
    },
    "mainProcurementCategory": "services"
  },
  "parties": [
    {
      "id": "GB-FTS-23007",
      "name": "UNIVERSITY OF SOUTHAMPTON",
      "roles": [
        "buyer"
      ],
      "address": {
        "region": "UKJ32",
        "locality": "SOUTHAMPTON",
        "postalCode": "SO171BJ",
        "countryName": "United Kingdom",
        "streetAddress": "HIGHFIELD CAMPUS,UNIVERSITY ROAD"
      },
      "details": {
        "url": "https://www.southampton.ac.uk/",
        "classifications": [
          {
            "id": "BODY_PUBLIC",
            "scheme": "TED_CA_TYPE",
            "description": "Body governed by public law"
          },
          {
            "id": "09",
            "scheme": "COFOG",
            "description": "Education"
          }
        ]
      },
      "identifier": {
        "legalName": "UNIVERSITY OF SOUTHAMPTON"
      },
      "contactPoint": {
        "url": "https://in-tendhost.co.uk/universityofsouthampton/aspx/Home",
        "name": "Alice Mashford",
        "email": "a.mashford@soton.ac.uk"
      }
    }
  ],
  "language": "en",
  "description": "To access further information and instructions, and to participate in this soft market engagement exercise, you will need to register on the University's electronic tendering portal In-Tend https://in-tendhost.co.uk/universityofsouthampton/aspx/Home",
  "initiationType": "tender"
}
Complete JSON history (1 releases)
17 Jan 2022 · 001369-2022 · planning
{
  "id": "001369-2022",
  "tag": [
    "planning"
  ],
  "date": "2022-01-17T17:02:12Z",
  "ocid": "ocds-h6vhtk-030bf2",
  "buyer": {
    "id": "GB-FTS-23007",
    "name": "UNIVERSITY OF SOUTHAMPTON"
  },
  "tender": {
    "id": "2021UoS-0241",
    "lots": [
      {
        "id": "1",
        "status": "planned",
        "description": "The University envisages the scope of the contract to include the below: \n•\tExternal audit of the annual consolidated financial statements of the University of Southampton; \n•\tExternal audit of the annual financial statements of relevant subsidiary companies; \n•\tExternal audit of the annual accounts for the University of Southampton Pension and Assurance Scheme (PASNAS); \n•\tAudits relating to the National College for Teaching and Learning, and the Teachers' Pension Scheme contributions and the Federal Family Education Loan Program Compliance report;\n•\tSupporting the University in complying with the reporting requirements of a Public Interest Entity and Financial Conduct Authority's Disclosure and Transparency Rules (DTR) in relation to the University's debt securities.\nFor a University of the complexity and size of Southampton, the external auditor would need access to specialist audit skills, be familiar with specific higher education issues and bring relevant knowledge of the large business units operating within the University (e.g. academic faculties, catering, estates, library services etc.). The auditor must be aware of developments within Higher Education particularly where these may have mandatory applications to institutions and/or potentially have significant financial effects."
      }
    ],
    "items": [
      {
        "id": "1",
        "relatedLot": "1",
        "deliveryAddresses": [
          {
            "region": "UKJ32"
          }
        ],
        "additionalClassifications": [
          {
            "id": "79212300",
            "scheme": "CPV",
            "description": "Statutory audit services"
          }
        ]
      }
    ],
    "title": "External Audit Services - Soft Market Engagement",
    "value": {
      "amount": 800000,
      "currency": "GBP"
    },
    "status": "planned",
    "coveredBy": [
      "GPA"
    ],
    "legalBasis": {
      "id": "32014L0024",
      "scheme": "CELEX"
    },
    "description": "The University is looking to tender, in the near future, its requirement for a supplier to provide external audit services and would like to engage with the marketplace by means of discussions via individual virtual meetings to help enable the University to understand the dynamics of the current marketplace and to enable the opportunity for potential suppliers to ask us any questions or raise any issues directly with the people that matter - the day-to-day end users and owners of the future contract. \nThis exercise is not a call for competition but engagement with the market to help inform our procurement approach in future.\nThe University envisages the scope of the contract to include the below: \n•\tExternal audit of the annual consolidated financial statements of the University of Southampton; \n•\tExternal audit of the annual financial statements of relevant subsidiary companies; \n•\tExternal audit of the annual accounts for the University of Southampton Pension and Assurance Scheme (PASNAS); \n•\tAudits relating to the National College for Teaching and Learning, and the Teachers' Pension Scheme contributions and the Federal Family Education Loan Program Compliance report;\n•\tSupporting the University in complying with the reporting requirements of a Public Interest Entity and Financial Conduct Authority's Disclosure and Transparency Rules (DTR) in relation to the University's debt securities.\nFor a University of the complexity and size of Southampton, the external auditor would need access to specialist audit skills, be familiar with specific higher education issues and bring relevant knowledge of the large business units operating within the University (e.g. academic faculties, catering, estates, library services etc.). The auditor must be aware of developments within Higher Education particularly where these may have mandatory applications to institutions and/or potentially have significant financial effects.",
    "communication": {
      "futureNoticeDate": "2022-06-01T00:00:00+01:00"
    },
    "classification": {
      "id": "79212000",
      "scheme": "CPV",
      "description": "Auditing services"
    },
    "mainProcurementCategory": "services"
  },
  "parties": [
    {
      "id": "GB-FTS-23007",
      "name": "UNIVERSITY OF SOUTHAMPTON",
      "roles": [
        "buyer"
      ],
      "address": {
        "region": "UKJ32",
        "locality": "SOUTHAMPTON",
        "postalCode": "SO171BJ",
        "countryName": "United Kingdom",
        "streetAddress": "HIGHFIELD CAMPUS,UNIVERSITY ROAD"
      },
      "details": {
        "url": "https://www.southampton.ac.uk/",
        "classifications": [
          {
            "id": "BODY_PUBLIC",
            "scheme": "TED_CA_TYPE",
            "description": "Body governed by public law"
          },
          {
            "id": "09",
            "scheme": "COFOG",
            "description": "Education"
          }
        ]
      },
      "identifier": {
        "legalName": "UNIVERSITY OF SOUTHAMPTON"
      },
      "contactPoint": {
        "url": "https://in-tendhost.co.uk/universityofsouthampton/aspx/Home",
        "name": "Alice Mashford",
        "email": "a.mashford@soton.ac.uk"
      }
    }
  ],
  "language": "en",
  "description": "To access further information and instructions, and to participate in this soft market engagement exercise, you will need to register on the University's electronic tendering portal In-Tend https://in-tendhost.co.uk/universityofsouthampton/aspx/Home",
  "initiationType": "tender"
}