Contract notice
Section I: Contracting
authority
I.1) Name and addresses
Local Pensions Partnership Investments Ltd
169 Union Street
London
SE1 0LL
UK
Contact person: Morenike Ajayi
E-mail: morenike.ajayi@lpfa.org.uk
NUTS: UKI
Internet address(es)
Main address: http://www.lpfa.org.uk/
I.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge at:
https://www.contractsfinder.service.gov.uk/Notice/6555eef6-ae91-4dfb-8684-67a0686c971c
Additional information can be obtained from the abovementioned address
Tenders or requests to participate must be sent to the abovementioned address
I.4) Type of the contracting authority
Body governed by public law
I.5) Main activity
Other: Local government pension provider
Section II: Object
II.1) Scope of the procurement
II.1.1) Title
Internal Audit Services
II.1.2) Main CPV code
79212200
II.1.3) Type of contract
Services
II.1.4) Short description
The London Pensions Fund Authority (LPFA) is required to have an internal audit function under the accounts and audit regulations. These regulations place responsibility on the authority for maintaining an adequate and effective internal audit service. The Audit and Risk Committee is responsible to the board for ensuring that there is an adequate system of internal control and that it is maintained and complied with on a routine basis.
The LPFA requires a provider to provide internal audit services to support the Audit and Risk Committee. Further details about the services required are set out in the invitation to tender.
II.1.6) Information about lots
This contract is divided into lots:
No
II.2) Description
II.2.2) Additional CPV code(s)
79210000
II.2.3) Place of performance
NUTS code:
UKI
II.2.4) Description of the procurement
The LPFA is required to have an internal audit function under the accounts and audit regulations. These regulations place responsibility on the authority for maintaining an adequate and effective internal audit service.The LPFA Audit and Risk Committee is responsible to the LPFA Board for ensuring that there is an adequate system of internal control and that it is maintained and complied with on a routine basis. The lead officer responsible for maintaining the system of internal control is the managing director of LPFA although the LPFA acknowledges that internal controls are a collective responsibility with the LPFA Audit and Risk Committee and the Section 151 Officer also has responsibility in this area.
The LPFA will prepare an Annual Governance Statement to review the effectiveness of the system of internal control and this is signed by the LPFA Managing Director and the Chair of the LPFA Audit and Risk Committee.This is supported by a statement from the Head of the internal audit function on the effectiveness of the system of internal control.
The LPFA Audit and Risk Committee has the responsibility for reviewing the effectiveness of the internal audit function. The Committee will receive regular reports from the internal audit provider and the senior internal auditor will attend the Audit and Risk Committee meetings.
The Head of Internal Audit, to be provided by the supplier, will be required to work with other elements of the audit services. This includes the LPFA’s external auditors (currently Grant Thornton), but may also require working with the internal and external audit service of Local Pensions Partnership (currently Deloitte internal and Grant Thornton external).
LPFA may also make use of external consultants to support organisational development. The internal audit function may identify areas for external consultancy to advise on and support implementation of, new systems following recommendations from external consultants.
The estimated value of the contract is 80 000 GBP to 100 000 GBP (excluding VAT) per year. Further details about the services required are set out in the invitation to tender.
II.2.5) Award criteria
Price is not the only award criterion and all criteria are stated only in the procurement documents
II.2.6) Estimated value
Value excluding VAT:
500 000.00
GBP
II.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Start:
04/04/2020
End:
31/03/2023
This contract is subject to renewal: Yes
Description of renewals:
LPFA may extend the contract by another 2 years to 31.3.2025.
II.2.9) Information about the limits on the number of candidates to be invited
II.2.10) Information about variants
Variants will be accepted:
No
II.2.11) Information about options
Options:
No
II.2.13) Information about European Union funds
The procurement is related to a project and/or programme financed by European Union funds:
No
Section III: Legal, economic, financial and technical information
III.1) Conditions for participation
III.1.2) Economic and financial standing
Selection criteria as stated in the procurement documents
III.1.3) Technical and professional ability
Selection criteria as stated in the procurement documents
III.2) Conditions related to the contract
III.2.2) Contract performance conditions
As set out in the invitation to tender.
Section IV: Procedure
IV.1) Description
IV.1.1) Type of procedure
Open procedure
- Accelerated procedure
Justification:
Tenders must be submitted by 16.00 GMT on 9.3.2020. An accelerated open procedure is being used as LPFA require the successful provider to be in place by 1.4.2020. A previous procurement process for the contract was terminated by LPFA due to a need to revise the tender evaluation criteria.
IV.1.8) Information about Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement:
Yes
IV.2) Administrative information
IV.2.2) Time limit for receipt of tenders or requests to participate
Date:
09/03/2020
Local time: 16:00
IV.2.4) Languages in which tenders or requests to participate may be submitted
EN
IV.2.6) Minimum time frame during which the tenderer must maintain the tender
Duration in months: 3 (from the date stated for receipt of tender)
IV.2.7) Conditions for opening of tenders
Date:
09/03/2020
Local time: 16:00
Section VI: Complementary information
VI.1) Information about recurrence
This is a recurrent procurement:
No
VI.4) Procedures for review
VI.4.1) Review body
The High Court, The Royal Courts of Justice
London
UK
VI.5) Date of dispatch of this notice
17/02/2020