The Provision of External Audit Services

The University is committed to maintaining a robust programme of external audits, delivered by a suitably sector qualified and experienced supplier, to provide independent examination of its financial statements and regulatory compliance reporting. The incumbent supplier has consistently demonstrated value for money and efficiency, supported by their accumulated knowledge of the University's operations. Returning to the market in the current time (market volatility and documented limited capacity in the market) stage would not only incur significant cost increases but also create operational risk through loss of efficiency and additional onboarding requirements part-way through the current audit cycle.

To ensure continuity of service and maintain the integrity of the University's external audit requirements, a limited direct award (initial 12 months with an option to extend by a further 12 months (if required)) to the incumbent supplier is therefore recommended. This approach will avoid disruption, sustain statutory external audit quality, and provide a stable platform from which the University will be able to undertake a new competitive procurement exercise before the commencement of the next audit cycle.