Internal audit and assurance services

Description

WFD wishes to procure the services of a supplier to provide independent and objective internal audit and assurance services, together with related consulting activity, on the effectiveness of governance, risk management and controls in line with Public Sector Internal Audit Standards, the Government Functional Standard for Internal Audit, and any other applicable standards, including any guidance issued by the Government Internal Audit Agency. The selected supplier will: (1) Develop, in consultation with WFD management, an internal audit charter, risk-based internal audit strategy for the three-year period, from 1 April 2022 to 31 March 2025, and an annual plan; (2) Share progress reports with the quarterly meeting of the Board's Audit & Risk Assurance Committee and liaise with the internal audit department of WFD's parent department the Foreign, Commonwealth & Development Office as required; (3) Offer regular insights to WFD's Accounting Officer and the Audit & Risk Assurance Committee and an annual audit opinion for the purposes of WFD's Annual Report & Accounts; and (4) Provide assurance on governance, risk management and controls including but not limited to: the systems and processes underpinning WFD's network and platform operations, information and communication technology, finance, commercial, people and culture, facilities management, and policy development and programme delivery, via commissioned internal audits or advisory assignments in accordance with the agreed strategy and plan. WFD reserves the right to either contract the selected supplier independently, on WFD standard terms and conditions of services, or to enter into a call-down order contract with a preferred supplier listed under Lot 1 of the Crown Commercial Service framework agreement RM6188 Audit and Assurance Services. The anticipated annual value of this contract in the first year is estimated as c.£15,000. This may be subject to review for the second and third years, subject to available funding. Further detailed information on how to apply can be found in the Invitation to Tender document.