Contract notice
Section I: Contracting
authority
I.1) Name and addresses
Northern Ireland Audit Office
106 University Street
Belfast
BT7 1EU
UK
Contact person: The Procurement Manager
E-mail: procurement@niauditoffice.gov.uk
NUTS: UKN
Internet address(es)
Main address: www.niauditoffice.gov.uk
I.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge at:
www.niauditoffice.gov.uk
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
General public services
Section II: Object
II.1) Scope of the procurement
II.1.1) Title
Review of Land & Property Services (LPS) Valuations for the Northern Ireland Audit Office (NIAO).
II.1.2) Main CPV code
79411000
II.1.3) Type of contract
Services
II.1.4) Short description
The NIAO is seeking to appoint consultants to provide assurance to NIAO that Land and Property Services has the professional skills, expertise etc. to act as management's expert in accordance with International Standard on Auditing (UK and Ireland) 500 — Audit Evidence (ISA 500) in providing:
A valuation service to Northern Ireland public sector bodies for property assets disclosed in their financial statements which complies with:
(a) Royal Institution of Chartered Surveyors' (RICS) Valuation Standards (the Red Book) and
(b) International Financial Reporting Standards (IFRS) as applied to the UK public sector and Department of Finance (DoF) Northern Ireland; and
Indices to revalue property assets annually between professional valuations.
II.1.5) Estimated total value
Value excluding VAT:
25 000.00
GBP
II.1.6) Information about lots
This contract is divided into lots:
No
II.2) Description
II.2.3) Place of performance
NUTS code:
UKN
Main site or place of performance:
Northern Ireland.
II.2.4) Description of the procurement
The work for which a proposal is invited is confined to providing assurance to the Northern Ireland Audit Office (NIAO) that LPS has the professional skills and expertise to act as management's expert in accordance with International Standard on Auditing (UK and Ireland) 500 — Audit Evidence (ISA 500) in providing:
— a valuation service to public sector bodies for property assets disclosed in their financial statements in accordance with International Financial Reporting Standards as applied to the United Kingdom public sector in accordance with Department of Finance (NI) guidance and International Valuation Standards and the RICS's Valuation Standards (the Red Book); and
— indices to revalue assets annually between professional valuations.
ISA 500 paragraph 8 requires:
— An evaluation of the competence, capability and objectivity of the expert;
— Obtaining an understanding of the work of the expert; and
— An evaluation of the appropriateness of the work of the expert as audit evidence.
Consequently the selected firm will need to consider these requirements as part of their reviews and, inter alia, their report on their findings should provide assurance that:
— LPS Valuation is staffed by appropriately qualified and experienced professionals;
— LPS staff are sufficiently objective;
— The terms of reference for work on valuations for financial statements undertaken by LPS Valuation Services are clearly documented;
— Valuations for financial statements are carried out in accordance with IFRS and RICS Valuation Standards;
— Reasonable and appropriate assumptions have been made by LPS Valuation Services in carrying out financial standards valuations; and
— Source data used by LPS Valuation Services is materially complete, relevant and accurate.
The successful contractor will also be expected to take account of the potential impact on the valuations for financial statements and indices provided by LPS, ensuring that they take account of any regional or other variations.
It is envisaged that the successful contractor will ensure that appropriate procedures and standards have been adhered to for a sample of valuations provided by LPS Valuation Services.
At the conclusion of the review, the successful contractor shall submit a report of its preliminary findings and conclusions. The report should confirm that the review has been completed in accordance with the agreed approach (or if not, provide a summary of departures from the agreed approach) and confirmation that an overall review has been completed by the Partner/Head of Firm. The report should be signed by the Partner/Head of Firm.
On receipt of the report an overall scrutiny will be carried out by NIAO. This scrutiny may also involve the examination of detailed working papers.
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:
25 000.00
GBP
II.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months: 3
This contract is subject to renewal: No
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.1.1) Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers
List and brief description of conditions:
Tenderers must
— Demonstrate their status as appropriately qualified RICS professional valuers and/or that the team proposed for the assignment includes RICS qualified professional valuers;
— Demonstrate 2 years' experience in the last 5 years of providing a valuation assurance service; and
— Confirm they accept NIAO's Standard Terms and Conditions attached to the Invitation to Tender (Appendix 5).
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.2.1) Information about a particular profession
Participation is reserved to a particular profession: Yes
Reference to the relevant law, regulation or administrative provision:
Tenderers must
— Demonstrate their status as appropriately qualified RICS professional valuers and/or that the team proposed for the assignment includes RICS qualified professional valuers;
— Demonstrate 2 years' experience in the last 5 years of providing a valuation assurance service; and
— Confirm they accept NIAO's Standard Terms and Conditions attached to the Invitation to Tender (Appendix 5).
III.2.3) Information about staff responsible for the performance of the contract
Obligation to indicate the names and professional qualifications of the staff assigned to performing the contract
Section IV: Procedure
IV.1) Description
IV.1.1) Type of procedure
Open procedure
- Accelerated procedure
Justification:
The tender should include the proposed timetable for the assignment and confirmation of your availability to carry out the work which we would expect to commence in January 2018 and be completed by 31.3.2018 to facilitate the timely audit of 2017-18 financial statements.
IV.1.8) Information about Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement:
No
IV.2) Administrative information
IV.2.2) Time limit for receipt of tenders or requests to participate
Date:
12/12/2017
Local time: 13:00
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:
12/12/2017
Local time: 14:00
Place:
Northern Ireland Audit Office, 106 University Street, Belfast, BT7 1EU.
Section VI: Complementary information
VI.1) Information about recurrence
This is a recurrent procurement:
No
VI.2) Information about electronic workflows
Electronic payment will be used
VI.4) Procedures for review
VI.4.1) Review body
Northern Ireland Audit Office
Belfast
UK
VI.5) Date of dispatch of this notice
27/11/2017