External Audit Services 2024

Description

The University is seeking tenders through the UK Open Procedure under the Public Contracts Regulations 2015 and The Public Procurement (Amendment etc.) (EU Exit) Regulations 2020 to appoint an external audit service provider for a period of 5 years with an option to extend for up to two further periods of 12 months each, subject to satisfactory performance and the University’s needs.The primary role of external auditors will be to report on the financial statements of the University of Chester and its subsidiary companies, and to carry out whatever examination of the statements and underlying records and control systems is necessary to reach an opinion on the statements. You will be required to report to the University Council by means of a management letter.University financial statements and management letter are submitted to the Office for Students by the end of December following the 31st July year end. Lot 1: The University is seeking tenders through the UK Open Procedure under the Public Contracts Regulations 2015 and The Public Procurement (Amendment etc.) (EU Exit) Regulations 2020 to appoint an external audit service provider for a period of 5 years with an option to extend for up to two further periods of 12 months each, subject to satisfactory performance and the University’s needs.The primary role of external auditors will be to report on the financial statements of the University of Chester and its subsidiary companies, and to carry out whatever examination of the statements and underlying records and control systems is necessary to reach an opinion on the statements. You will be required to report to the University Council by means of a management letter.University financial statements and management letter are submitted to the Office for Students by the end of December following the 31st July year end. They are scrutinised by the Audit and Risk Management Committee in mid-November and approved by University Council at the end of November. The on-site work final audit usually takes place during mid-September to mid-October, with interim audit being arranged earlier in the financial year.You will also be required to report on whether funds provided by the Office for Students, UK Research and Innovation (including Research England), the Education and Skills Funding Agency and the Department for Education have been applied in accordance with the relevant terms and conditions; and the financial statements meet the requirements of the Accounts Direction.The appointed provider will be required to:(a) operate in accordance with published audit and accounting standards;(b) meet professional, ethical and quality standards in completing its work;(c) comply with terms of reference approved by the Audit and Risk Management Committee,(d) provide suitably qualified and experienced staff;(e) endeavour to promote continuity of staffing;(f) ensure that the staff employed will receive appropriate ongoing training;(g) set out proposals for liaison with other auditors.The successful tenderer must be able to demonstrate they can provide a comprehensive service which will satisfy the University’s requirement for an External Audit Service, as set out by the Office for Students or UK Research and Innovation (UKRI). Copies of the University’s latest Financial Statements are also attached at Annex 1, and the University’s latest risk register at Annex 2. Tenderers are reminded that the information within these documents should only be used for the purposes of compiling this tender. Further details are available in the tender documents. Please note the estimated total value includes the optional extension periods.This tender is not divided into Lots.