External Audit Services

Description

Southern Housing are seeking to procure External Audit Services to undertake an independent audit of Southern Housing and its related subsidiaries to be carried out in accordance with International Standards on Auditing (UK) (ISAs (UK)). Southern Housing published a Preliminary Market Engagement notice related to this procurement (Ref 2025/S 000-075860 on 20 November 2025 and have undertaken Preliminary Market Engagement which has included: a) submission of questionnaire responses b) use of the questionnaire responses to understand the market, capability and inform the procurement strategy Please note the estimated contract value stated excludes inflation. The contract will be for a maximum term of 5 years and will be subject to the annual re-appointment of the external auditors by the Southern Housing Board. The Client is targeting the following strategic objectives and added value benefits: a. Deliver work requirements in line with the scope and specified instructions b. Deliver works within the required timelines c. Proactive communication – working in partnership d. Act as a professional and informed sounding board e. Provide proactive support to the Audit & Risk Committee f. Being kept informed of forthcoming / potential changes in financial reporting requirements g. Ideas for how the external audit process could be delivered more efficiently by SH / audit firm each year. The Client reserves the right, at its sole discretion, to update, modify or replace its strategic objectives or policies after the date of this Invitation to Tender by notification to the Bidders in writing. In accordance with section 52 of the Procurement Act 2023, wherever the Client enters into a public contract with an estimated value of more than £5 million, the Client must set and publish at least three key performance indicators in respect of the Contract. In light of the estimated value of the Contract, the Client has set the following indicative key performance indicators for the purposes of this procurement: KPI 1 – Audits completed within agreed timelines KPI 2 – Number of audit findings requiring rework/clarification or that are inaccurate/incomplete KPI 3 – Average number of days between audit completion and report submission KPI 4 - Average response time on technical accounting queries The Client will enter into Contract with the with the successful Supplier which shall be based on the Client's Standard form of Services Contract (including a Schedule of Amendments).