Internal and External Audit, Counter Fraud, and Financial Assurance Services
Introduction
The Internal and External Audit, Counter Fraud, and Financial Assurance Services framework, managed by NHS Shared Business Services, is an essential procurement route within the financial services category. This is a non-Dynamic Purchasing System (DPS) framework, structured to provide a comprehensive suite of services designed to bolster financial integrity and compliance across public sector organisations, particularly those within the NHS. It is set to run until 15 November 2024, allowing public entities to efficiently access specialised financial services necessary for maintaining robust governance and financial health.
Context & Use Case
This framework is specifically tailored to meet the audit and financial oversight needs of NHS organisations and other public sector bodies. Contracting authorities utilise this framework to ensure their financial operations are not only compliant with statutory requirements but also optimised for efficiency and effectiveness. The framework’s design allows these entities to quickly engage with pre-approved suppliers who bring expertise in various niches of financial services. By doing so, public bodies can focus on their core functions, confident that their financial processes are secure and transparent.
Scope of Services
The framework is divided into five distinct lots, each addressing key areas of financial services: 1. External Audit Services: This lot covers independent auditing of financial statements to ensure accuracy and compliance with applicable standards. 2. Internal Audit Services: Provides ongoing assessment of internal controls and risk management processes to improve operational efficiency. 3. Counter Fraud Services: Offers expertise in detecting, preventing, and responding to fraudulent activities to safeguard organisational resources. 4. Well-Led Governance Review: Focuses on evaluating governance structures to ensure they are effective and well-aligned with organisational goals. 5. Audit and Governance Ancillary Services: Encompasses additional support services that complement the primary audit and governance functions.
Who Can Apply
The framework is open to a diverse range of suppliers who specialise in financial audits, fraud prevention, and governance reviews. Suppliers with a proven track record in delivering high-quality, compliant services to public sector clients are particularly well-suited for this framework. As it is not a DPS, suppliers cannot join after the initial tender process, so those already a part of the framework will continue to offer their services until its conclusion in November 2024.
Buyer Benefits
Public sector buyers benefit from this framework through streamlined access to specialised financial services, ensuring compliance with regulatory demands and bolstering financial governance. The pre-approved list of suppliers ensures a competitive environment, promoting high-quality service delivery. Additionally, the framework facilitates speed to market by reducing the time and effort required to conduct separate procurement exercises, thus allowing organisations to respond swiftly to financial assurance needs.
Lots
Lot 1: External Audit Services This lot covers services related to the external auditing of financial statements and compliance with regulatory requirements. Lot 2: Internal Audit Services This lot includes services for conducting internal audits to assess risk management, control, and governance processes. Lot 3: Counter Fraud Services This lot provides services aimed at detecting, preventing, and responding to fraud within organisations. Lot 4: Well-Led Governance Review This lot involves services to review and enhance governance structures and leadership effectiveness. Lot 5: Audit and Governance Ancillary Services This lot encompasses additional services that support audit and governance functions, including consultancy and advisory services.
Next Steps
Suppliers interested in participating in this framework should ensure they meet the necessary requirements and review the specific criteria set by NHS Shared Business Services. Engaging directly with the contracting authority will provide further insights into the application process and future opportunities within related frameworks.
How Biddable Can Help
Biddable supports suppliers by enhancing their understanding of this framework and similar procurement opportunities. We help suppliers prepare effectively, ensuring they are well-positioned to meet the demands of public sector frameworks. Through our services, suppliers gain visibility into upcoming opportunities, allowing for strategic planning and participation in relevant procurement exercises.