GEN_22_109 Specialist model assurance support

Description

National Audit Office awarded a contract to the supplier through the Crown Commercial Services G-Cloud 13 framework. The selected provider will be expected to provide NAO with an experienced model auditor to work in the NAO modelling team on a temporary basis (up to 6 months from January to July 2023). The Model audit lead will play a key role in engaging with our stakeholders to plan audit engagements; develop and apply innovative audit techniques; work to influence NAO clients; and drive their own development by gaining exposure to the audit of complex financial instruments in a public sector context a well as application of modelling and data analytics techniques. The role will be delivered under hybrid working arrangements with up to 2 days per week in the NAO's London office (specific days by mutual agreement) and the balance delivered remotely. In Spring 2023, The current call-off contract value of £54,000, excluding VAT (£64,800, including VAT) was increased by £26,000 to allow for the provision of an extra Specialist who would provide model assurance support. The new contract value is now £80,000, excluding VAT (£96,000 including VAT). As of 1st March 2024, this contract allowed for an optional 12 months extension which the NAO has decided to utilise. This means the contract has been extended for 12 months running from Monday 4th March 2024 to Monday 3rd March 2025. Additional information: The contract with Hartley McMaster Ltd will run for a 6 months period from January 2023 until July 2023. The contract has been extended for 12 months from Monday 4th March 2024 to Monday 3rd March 2025.