Internal Audit Services Tender – Local Pensions Partnership Investments

Internal Audit Services Tender – London Pensions Fund Authority

The London Pensions Fund Authority is required to have an internal audit function under the accounts and audit regulations.

United Kingdom-London: Internal audit services

2020/S 036-086353

Contract notice

Services

Legal Basis:

Directive 2014/24/EU

Section I: Contracting authority

I.1)Name and addresses

Official name: Local Pensions Partnership Investments Ltd
Postal address: 169 Union Street
Town: London
NUTS code: UKI
Postal code: SE1 0LL
Country: United Kingdom
Contact person: Morenike Ajayi
E-mail: morenike.ajayi@lpfa.org.uk

Internet address(es):Main address: http://www.lpfa.org.uk/

I.2)Information about joint procurement

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 submitted to the abovementioned address

I.4)Type of the contracting authority

Body governed by public law

I.5)Main activity

Other activity: 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.1.5)Estimated total value

II.1.6)Information about lots

This contract is divided into lots: no
II.2)Description
II.2.1)Title:

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.2.10)Information about variants

Variants will be accepted: no

II.2.11)Information about options

Options: no
II.2.12)Information about electronic catalogues

II.2.13)Information about European Union funds

The procurement is related to a project and/or programme financed by European Union funds: no
II.2.14)Additional information

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

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.1.5)Information about reserved contracts
III.2)Conditions related to the contract
III.2.1)Information about a particular profession

III.2.2)Contract performance conditions:

As set out in the invitation to tender.

III.2.3)Information about staff responsible for the performance of the contract

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.1.3)Information about a framework agreement or a dynamic purchasing system
IV.1.4)Information about reduction of the number of solutions or tenders during negotiation or dialogue
IV.1.6)Information about electronic auction

IV.1.8)Information about the 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

IV.2.2)Time limit for receipt of tenders or requests to participate

Date: 09/03/2020
Local time: 16:00
IV.2.3)Estimated date of dispatch of invitations to tender or to participate to selected candidates

IV.2.4)Languages in which tenders or requests to participate may be submitted:

English

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.2)Information about electronic workflows
VI.3)Additional information:
VI.4)Procedures for review

VI.4.1)Review body

Official name: The High Court, The Royal Courts of Justice
Town: London
Country: United Kingdom
VI.4.2)Body responsible for mediation procedures
VI.4.3)Review procedure
VI.4.4)Service from which information about the review procedure may be obtained

VI.5)Date of dispatch of this notice:

17/02/2020