Public Sector Audit Appointments Limited (PSAA) has today established a dynamic purchasing system (DPS) that will provide a new route to procure audit services for bodies that have opted to join its national scheme.
The DPS is expected to be in place through to 2030 and will enable PSAA to tap into available audit capacity as and when the need arises. It will support PSAA’s efforts to encourage a more sustainable market as firms registered as a local auditor with the ICAEW are likely to have more frequent opportunities to enter the market or to expand their portfolios. New market entrants can apply to join the DPS at any time through the FindATender service by submitting a completed selection questionnaire and supporting information.
PSAA has already been able to appoint a significant majority of the firms that are currently registered as local auditors to the DPS. Firms appointed in this way will be invited to bid for packages of local audit work which are released as needs dictate.
Steve Freer, PSAA Chair said:
“The establishment of the DPS marks an important step for PSAA’s national scheme. It gives us the flexibility to access the market as needs change and, crucially, with much shorter lead times. The DPS will complement the large scale procurements which we will continue to undertake from time to time. It adds another valuable string to our bow and will help us to get the best from the market.”