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Flood Re - Statutory Audit Services

Buyer: FLOOD RE LIMITED →

Participate on procurementsolutions.esourcingportal.com ↗External submission platform

BuyerFLOOD RE LIMITED
StatusClosed
Deadline25 Nov 2024
ValueValue not published
Published25 Oct 2024

What is being bought

Flood Re intends to reprodure statutory audit services with effect from the financial year ended 31 March 2026 (starting 1 April 2025), with the expectation that the handover from the incumbent external auditors, if required, would coincide with the completion of activities for the financial year ended 31 March 2025.

Delivery location

UK

Categories

Internal audit services 79212200

Lot details

Lot 1

Flood Re intends to reprodure statutory audit services with effect from the financial year ended 31 March 2026 (starting 1 April 2025), with the expectation that the handover from the incumbent external auditors, if required, would coincide with the completion of activities for the financial year ended 31 March 2025.

Statusactive

Award criteria
Audit Quality — 50%
Corporate / cultural fit — 7%
Industry expertise — 15%
Public sector audit experience — 13%
Environmental and Social Governance — 5%
price — 10%

What is included

ItemCategoryQuantity
1Not publishedNot published

Comparable-procurement analytics

Benchmarked against retained Find a Tender procedures with CPV division 79. The category anchor is Internal audit services (79212200); 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 7913,7424 median · 30.9 average (5,805 of 13,742 with a bid count)3.2 average (6,511 of 13,742 with named award suppliers)1 comparable price pairs
Same buyer3Not publishedNot publishedNot published
Delivery region: UK3,8154 median · 60.1 average (1,524 of 3,815 with a bid count)5.1 average (1,812 of 3,815 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 requirementNo
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-04b138
Latest release ID034594-2024
Latest release timestampFri Oct 25 2024 08:02:20 GMT+0000 (Coordinated Universal Time)
Sourcefind-a-tender
Official notice URLNot published
Tender statusactive
Procurement methodopen
Procurement method detailsOpen procedure
Main procurement categoryservices
Above thresholdNot published
Legal basis32014L0024
Tender period: startNot published
Tender period: end2024-11-25T13:59:00Z
Expression of interest deadlineNot published
Enquiry deadlineNot published
Award period: start2024-11-25T14:00:00Z
Award period: endNot published
Submission method detailshttps://procurementsolutions.esourcingportal.com
Submission languagesen
Electronic catalogue policyNot published
Total tender valueNot published
Tender lots in source1
Tender items in source1
Tender documents in source0
Awards in latest release0
Contracts in latest release0
Parties in latest release2

Notice history

DateEventReference
25 Oct 2024tender034594-2024

All source data

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

Complete current OCDS release JSON
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        "description": "Flood Re intends to reprodure statutory audit services with effect from the financial year ended 31 March 2026 (starting 1 April 2025), with the expectation that the handover from the incumbent external auditors, if required, would coincide with the completion of activities for the financial year ended 31 March 2025.",
        "awardCriteria": {
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            {
              "name": "Audit Quality",
              "type": "quality",
              "description": "50%"
            },
            {
              "name": "Corporate / cultural fit",
              "type": "quality",
              "description": "7%"
            },
            {
              "name": "Industry expertise",
              "type": "quality",
              "description": "15%"
            },
            {
              "name": "Public sector audit experience",
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              "description": "13%"
            },
            {
              "name": "Environmental and Social Governance",
              "type": "quality",
              "description": "5%"
            },
            {
              "type": "price",
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            }
          ]
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        "contractPeriod": {
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    ],
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      },
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        "classifications": [
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    }
  ],
  "language": "en",
  "initiationType": "tender"
}
Complete JSON history (1 releases)
25 Oct 2024 · 034594-2024 · tender
{
  "id": "034594-2024",
  "tag": [
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  "date": "2024-10-25T09:02:20+01:00",
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  "buyer": {
    "id": "GB-COH-08670444",
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  },
  "tender": {
    "id": "ocds-h6vhtk-04b138",
    "lots": [
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          "description": "There is an option for Flood Re to extend the contract for up to a further three years (36 months)"
        },
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        "hasRenewal": true,
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        "awardCriteria": {
          "criteria": [
            {
              "name": "Audit Quality",
              "type": "quality",
              "description": "50%"
            },
            {
              "name": "Corporate / cultural fit",
              "type": "quality",
              "description": "7%"
            },
            {
              "name": "Industry expertise",
              "type": "quality",
              "description": "15%"
            },
            {
              "name": "Public sector audit experience",
              "type": "quality",
              "description": "13%"
            },
            {
              "name": "Environmental and Social Governance",
              "type": "quality",
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            },
            {
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              "description": "10%"
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    ],
    "title": "Flood Re - Statutory Audit Services",
    "status": "active",
    "coveredBy": [
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    "bidOpening": {
      "date": "2024-11-25T14:00:00Z"
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    "tenderPeriod": {
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    "contractTerms": {
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    "procurementMethodDetails": "Open procedure"
  },
  "parties": [
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