Audit Services
Introduction
The Audit Services Framework, managed by Crescent Purchasing, is an integral procurement route under the Financial Services category. This framework is designed to provide a structured and compliant way for public sector entities to procure audit services, ensuring alignment with both current and emerging regulatory standards. The framework is set to conclude on 12th April 2024, offering a reliable solution for organisations seeking to maintain compliance with various governmental and educational financial regulations.
Context & Use Case
This framework is specifically tailored to assist public sector bodies in fulfilling their audit requirements. It is particularly significant for educational institutions and other organisations that must adhere to the Statement of Recommended Practice (SORP), the Post-16 Audit Code of Practice, and the Academies Financial Handbook 2019. By utilising this framework, contracting authorities can ensure that their audit practices are in line with the expectations of UK Government, Funding Bodies, the Department for Education, and other regulatory entities. This context provides assurance to these institutions that their financial audits will meet necessary compliance standards, thereby mitigating potential risks associated with non-compliance.
Scope of Services
The Audit Services Framework covers a range of audit-related services necessary for public sector compliance and financial integrity. The services typically include, but are not limited to, internal and external audits, financial audits, compliance audits, and risk management reviews. The framework ensures that participating organisations have access to experienced auditors who are well-versed in public sector financial regulations and practices.
Who Can Apply
This framework is suitable for a wide range of suppliers who can deliver high-quality audit services. Typically, these would include professional audit firms and consultancies with expertise in public sector financial regulations. Unlike a Dynamic Purchasing System (DPS), this framework does not allow for open applications throughout its duration, meaning suppliers need to have been selected prior to its commencement.
Buyer Benefits
Public sector buyers stand to gain several advantages from using the Audit Services Framework. Primarily, it provides a compliant route to market, offering assurance that all audit services procured through this framework meet the necessary regulatory requirements. Additionally, the framework facilitates a faster procurement process by pre-selecting qualified suppliers, thus reducing the time and effort required for competitive tendering. This streamlined approach also ensures that buyers have access to competitive pricing and high-quality service delivery.
Lots
Not applicable
Next Steps
Suppliers interested in engaging with this framework should thoroughly review the specific requirements and guidelines outlined by Crescent Purchasing. It is advisable to contact the framework owner directly to discuss potential opportunities and ensure that all qualifications and standards are met before pursuing involvement.
How Biddable Can Help
Biddable provides valuable support to suppliers navigating the public sector procurement landscape. By offering tools and resources for discovery and preparation, Biddable helps suppliers gain visibility into upcoming opportunities and maintain a competitive edge. Our services are designed to assist suppliers in understanding framework requirements and enhancing their procurement capabilities without unnecessary promotional pressure.