Section one: Contracting authority
one.1) Name and addresses
Flood Re
75 King William Street
London
EC4N 7BE
Country
United Kingdom
NUTS code
UK - United Kingdom
Internet address(es)
Main address
http://www.floodre.co.uk/about-us/
one.2) Information about joint procurement
The contract is awarded by a central purchasing body
one.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
https://procurementsolutions.esourcingportal.com
Additional information can be obtained from the above-mentioned address
Tenders or requests to participate must be submitted electronically via
https://procurementsolutions.esourcingportal.com
one.4) Type of the contracting authority
National or federal Agency/Office
one.5) Main activity
Economic and financial affairs
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Statutory Audit Services
two.1.2) Main CPV code
- 79412000 - Financial management consultancy services
two.1.3) Type of contract
Services
two.1.4) Short description
Flood Re seeks to re-procure its external statutory audit services in accordance with its commitment to stakeholders
The objective of the statutory audit is to express an opinion, as to whether the financial statements of Flood Re present fairly, in all material respects, the financial position, results of operations and changes in cash flow in accordance with applicable accounting standards. The external auditor will be required to auditor Flood Re's financial statements primarily based on IFRS 17, but will also be required to audit the IFRS 4 equivalent due to Flood Re's public accounting obligations.
two.1.5) Estimated total value
Value excluding VAT: £4,400,000
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.2) Additional CPV code(s)
- 66519600 - Actuarial services
- 72212442 - Financial systems software development services
- 79211200 - Compilation of financial statements services
two.2.3) Place of performance
NUTS codes
- UKI - London
two.2.4) Description of the procurement
Flood Re seeks to re-procure its external statutory audit services in accordance with its commitment to stakeholders.
The objective of the statutory audit is to express an opinion, as to whether the financial statements of Flood Re present fairly, in all material respects, the financial position, results of operations and changes in cash flow in accordance with applicable accounting standards. The external auditor will be required to auditor Flood Re's financial statements primarily based on IFRS 17, but will also be required to audit the IFRS 4 equivalent due to Flood Re's public accounting obligations.
two.2.5) Award criteria
Quality criterion - Name: Audit Quality / Weighting: 50%
Quality criterion - Name: Corporate / Cultural fit / Weighting: 10%
Quality criterion - Name: Industry expertise / Weighting: 15%
Quality criterion - Name: Public sector audit experience / Weighting: 15%
Price - Weighting: 10%
two.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months
60
This contract is subject to renewal
Yes
Description of renewals
Optional extension period of 36 months
two.2.10) Information about variants
Variants will be accepted: No
two.2.11) Information about options
Options: No
two.2.13) Information about European Union Funds
The procurement is related to a project and/or programme financed by European Union funds: No
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Open procedure
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: Yes
four.2) Administrative information
four.2.2) Time limit for receipt of tenders or requests to participate
Date
9 January 2023
Local time
2:00pm
four.2.4) Languages in which tenders or requests to participate may be submitted
English
four.2.7) Conditions for opening of tenders
Date
9 January 2023
Local time
2:00pm
Section six. Complementary information
six.1) Information about recurrence
This is a recurrent procurement: No
six.3) Additional information
(MT Ref:227632)
six.4) Procedures for review
six.4.1) Review body
Public Procurement Review Service
Cabinet Office
London
publicprocurementreview@cabinetoffice.gov.uk
Telephone
+44 3450103503
Country
United Kingdom
Internet address
https://www.gov.uk/government/publications/public-procurement-review-service-scope-and-remit