RFP QuestBeta
Awarded · ResultStage · contract

Flood Re

External Audit services for Re-insurer

Business ServicesCPV 79212100
Value£1.1m
Awarded5 Jan 2016
Published14 Mar 2016
RegionLondon
Outcome — awarded

This is a contract result notice, not an open opportunity. Details from the official award data.

Contract value in context
£1.1mtotal contract value
median £66k
this tender£0£1.6m

This is a large award for Business Services — above three-quarters of comparable contracts. Based on 57,319 valued Business Services tenders in our corpus.

The brief

Statutory and Regulatory Audit Services 1) Statutory audit of Flood Re Limited in accordance with the UK Companies Act 2006.

IFRS Financial Statement audit of Flood Re Limited - see background section for business information.

2) PRA Regulatory reporting under Solvency II.

This will encompass all regulatory audit requirements as required by the PRA.

The PRA is still yet to formally announce exactly which areas of Solvency II implementation and reporting will be subject to an audit, however for the purposes of fee estimation and approach as required for this tender, this is taken to include an audit of the Solvency II regulatory returns, Solvency II Balance Sheet and Own Funds' templates.

Non-Audit Services 3) Sign-off to HMRC of Annual Tax Return* Review of Flood Re Limited statutory tax return for submission to Companies House.

4) Sign-off of reserving as not excessively prudent* *Dependent on the final implementation of EU regulation in the UK, Flood Re reserves the right to refrain from procuring these services from 2017 onwards.

Additional non-audit services may be required and requested on an ad-hoc basis.

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Source & provenance
OCID
dffcadf4-b181-4ca2-8372-a77209a5c944
Stage
contract · Contract
Source
Contracts Finder
Buyer ref
MT172429
View the original notice on Contracts Finder

Contains public sector information licensed under the Open Government Licence v3.0. Source data © Crown copyright.

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