Contract award notice
Results of the procurement procedure
Section I: Contracting
entity
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.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.1.7) Total value of the procurement
Value excluding VAT:
250 000.00
GBP
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 GBP 8 00 to GBP 100 000 (excluding VAT) per year. Further details about the services required are set out in the invitation to tender.
II.2.5) Award criteria
Price
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 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 March 2020. An accelerated open procedure is being used as LPFA require the successful provider to be in place by 1 April 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.2.1) Previous publication concerning this procedure
Notice number in the OJ S:
2020/S 036-086353
Section V: Award of contract
Title: Internal Audit Services
A contract/lot is awarded:
Yes
V.2 Award of contract
V.2.1) Date of conclusion of the contract
13/05/2020
V.2.2) Information about tenders
Number of tenders received: 1
The contract has been awarded to a group of economic operators:
No
V.2.3) Name and address of the contractor
PricewaterhouseCoopers LLP
1 Embankment Place
London
WC2N 6RH
UK
NUTS: UKI
The contractor is an SME:
No
V.2.4) Information on value of the contract/lot (excluding VAT)
Total value of the contract/lot:
: 250 000.00
GBP
V.2.5) Information about subcontracting
Section VI: Complementary information
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
28/05/2020