Source: https://tendernation.io/opportunities/01a13ca5-ada1-70ed-aad3-b02148e5b777/audit-firm-culture awarded GB open procedure Suitable for SMEs # Audit Firm Culture [The Financial Reporting Council Limited](https://tendernation.io/buyers/the-financial-reporting-council-limited) Estimated value £54,000 to £60,000 Published 27 Oct 2021 Deadline Closed 24 Nov 2021 ## 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 OPPORTUNITY IS CLOSED. THIS IS A CONTRACT AWARD NOTICE\*\*\* The Financial Reporting Council (FRC) regulates auditors, accountants and actuaries and sets the UK's Corporate Governance and Stewardship Codes. We seek to promote transparency and integrity in business; our work is aimed at investors and others who rely on company accounts, audit and high-quality risk management. In May 2018 the FRC published a thematic review on Audit Culture. Audit firm culture is a critical component of an audit firm's ability to deliver high quality audits in the public interest therefore the review looked at audit firms' activities to establish, promote and embed a culture that is committed to delivering consistently high-quality audits. One key attribute of a good, healthy audit culture is auditors being able to challenge companies' management teams effectively and exercise professional scepticism when performing audits. The FRC's work continues to show that auditors often struggle to challenge the management of audited entities effectively, especially on issues that involve judgement. This can result in auditors failing to obtain sufficient and appropriate audit evidence, and in some cases, failing to identify or seek the correction of potential misstatements of the financial statements. The research project was to provide evidence and analysis to support the FRC's current thematic review on audit culture. Additional information: THIS OPPORTUNITY IS CLOSED. THIS IS A CONTRACT AWARD NOTICE. Read full description ## CPV classification Research and development services and related consultancy services Source Contracts Finder (UK) [View official notice](https://www.contractsfinder.service.gov.uk/notice/e0593a2e-1dee-4fe2-bed4-622eb42ad6c8) 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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