Market Engagement

During Autumn 2021 all eligible bodies needed to make important decisions about their external audit arrangements for the period commencing from the financial year 2023/24. In relation to appointing auditors, eligible bodies had options to arrange their own procurement and make the appointment themselves or in conjunction with other bodies, or they can join and take advantage of the national collective scheme administered by PSAA.

Prior to the publication of Contract Notices on 7 February 2022 associated with PSAA’s procurement of audit services for the period from April 2023, we undertook market engagement with potential suppliers to share details of our plans and to hear their views.

On 26 January 2022, we provided an overview of the contract terms including how remuneration will be calculated, the payment mechanism, and contract management arrangements including the proposed KPIs, together with a recap of the main points from the November webinar. We also confirmed our expected procurement and auditor appointment timescales throughout 2022. The slides from the January 2022 market engagement webinar are available.

On 23 November 2021 we outlined our current thinking on the detail of our procurement strategy and answered questions. The slides from the November 2021 market engagement webinar are available.

Further back in June 2021, we sought the views of current and potential suppliers to help us shape important features of our procurement strategy for our procurement of audit services from April 2023.

Feedback from the sector and the market has been extremely helpful and has enabled us to refine our proposals which are now set out in the scheme prospectus and our procurement strategy. Both documents contain information that you may find helpful.