Source: https://tendernation.io/opportunities/01a13c90-c81b-720d-8c06-5d93acba5d03/independent-expert-mutual-recognition-agreements-mras awarded GB open procedure Suitable for SMEs # Independent Expert: Mutual Recognition Agreements (MRAs) [The Financial Reporting Council Limited](https://tendernation.io/buyers/the-financial-reporting-council-limited) Estimated value £30,000 to £40,000 Published 27 Jun 2022 Deadline Closed 15 Jul 2022 ## Who can bid - Buyer says suitable for SMEs The buyer ticked “suitable for SMEs” on the notice. Anyone can still bid. - Buyer says suitable for VCSEs The buyer ticked “suitable for voluntary, community and social enterprises” on the notice. - Small contract value Valued under £135,018 including VAT, the lowest Procurement Act threshold for goods and services. - Open procedure Anyone can submit a full tender; there is no shortlisting stage. [More contracts for small businesses and VCSEs](https://tendernation.io/opportunities/for-small-businesses) ## About this tender ### THIS IS A CONTRACT AWARD NOTICE The purpose of the Financial Reporting Council (FRC) is to serve the public interest by setting high standards of corporate governance, reporting and audit and by holding to account those responsible for delivering them. ### BACKGROUND The FRC is a public body, and a partner body of BEIS. Although funded by member and levy contributions, not by the taxpayer, the FRC is subject to public sector requirements and engages closely with other regulators and public bodies. The UK Stewardship Code is a voluntary code for asset managers (investment managers), asset owners and service providers (such as proxy advisers, investment consultants and data providers). The Stewardship Code promotes the responsible allocation, management and oversight of capital to create long-term value for clients and beneficiaries leading to sustainable benefits for the economy, the environment and society. We also monitor and take action to promote the quality of corporate reporting and operate independent enforcement arrangements for accountants and actuaries. ### PROJECT & PURPOSE Following the UK's exit from the EU and UK auditors' loss of automatic statutory audit rights, the FRC (as competent authority responsible for approving third country qualifications) is seeking to secure several mutual recognition agreements (MRAs) with key countries around the world. Via a process of engagement with a number of countries we have identified some priorities and have focused, in particular, on the qualifications of accountancy professional bodies in Australia and New Zealand with the intention of reaching MRAs with the authorities in Australia and New Zealand later this calendar year. We are currently reviewing the audit qualifications of Chartered Accountants Australia and New Zealand (CAANZ) and CPA Australia (CPAA) relevant to the approval of their qualifications by the FRC as approved third country qualifications under section 1221 Companies Act 2006. Although Australia and New Zealand are likely to be the earliest MRAs that we are able to achieve, we are seeking an Independent Expert able to assist subsequently in assessing the qualifications of other countries with whom MRAs are agreed. ### OUR REQUIREMENT To appoint an independent expert to review the evidence we have identified, the conclusions we have drawn and report on the equivalence of the CAANZ, CPAA and audit qualifications granted by UK recognized qualifying bodies. This authoritative report will state whether in the opinion of the author the audit qualifications granted in Australia and New Zealand are comparable to UK qualifications. The report will be carried out with full academic rigour and will be impartial. Accordingly, it will provide assurance to the FRC Board, the accounting profession and government as to the equivalence of the qualifications concerned. Additional information: THIS IS A CONTRACT AWARD NOTICE - THIS OPPORTUNITY IS CLOSED. ### Notes: - - Download and review the documents - Observe the timelines and tender process - Register your interest in this opportunity by email to - You will need to register your interest in this opportunity to receive the Q&A responses. - Spend under this notice will be capped at £170,000. - The FRC reserves the right to award a reserve place to the second highest scoring supplier if the volume of assessments of qualifications required exceeds expectation or the capacity of an individual independent expert. Read full description ## CPV classification Accounting, auditing and fiscal services Source Contracts Finder (UK) [View official notice](https://www.contractsfinder.service.gov.uk/notice/4c85e0d1-556e-470e-804e-22b82b749b3b) Never miss a tender like this again Get AI summaries, deadline alerts and a bid pipeline for tenders matched to your business. Free to start. 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