Accounting, auditing and fiscal services

Description

The National Audit Office (NAO) is the UK’s independent public spending watchdog. We support Parliament in holding government to account and we help to improve public services through our high-quality audits. The NAO’s contract is a fundamental part of being able to carry out our purpose and achieve our objectives. The purpose of this contract is to work in partnership with supplier firms to ensure we deliver high quality audits, to support effective accountability and lead to better financial reporting and financial management by public bodies. We will be contracting out a series of audit engagements which will be divided into lots as well as procuring additional services. The Comptroller and Auditor General (C&AG) retains overall responsibility for signing the audit opinion and the NAO will work with supplier firms to ensure audit and assurance services are carried out in line with the relevant standards and quality expectations. The total value of this procurement is estimated at GBP 33 million (excluding VAT) over 5 years consisting of 3 years minimum with option to extend for a further 2 years. This will be sub-divided into 6 to 8 contracts of approximate equal value. Each contract will be for a single supplier to carry out the audit of specifically named audit bodies, supplementary audit staff and training services as and when required. Audits will need to be carried out to internationally recognised auditing standards but also adapted to the public sector reporting framework which includes the Government Financial Reporting Manual and checking that transactions have been applied to the purposes intended by Parliament and conform to the authorities which govern them ('regularity'). The contract term will be for a minimum of 3 years with an option to extend by a further 2 years (3 + 1 + 1).