Competition with a shortlist
Competitive procedure with a selection stage: suppliers were shortlisted before being invited to bid.
Key facts
- Buyer
- Department For Education · Body governed by public law
- Supplier
- Bdo LLP
- Value
- £719,075
- Procedure
- Call-off from a framework agreement
- Sector
- Business services · Auditing services (CPV 79212000)
- Region
- London
- Official notice
- View on Contracts Finder
- Timeline
-
- Contract date23 May 2025
- Published17 Jun 2025Published 25 days after the contract date
Description
Following the 2008 Sale of Student Loans Act, the Secretary of State for Education assumed the responsibilities of Master Servicer for the sold loans agreements and is therefore responsible for sourcing a range of audits to ensure compliance. This is the Department's Contract Award Notice for the re-procurement of an Audit and Assurance Provider to deliver two related workstreams annually: - Assumptions AUP Report covering both the Assumptions AUP (one report to cover both sales). It will include auditing the Transition Matrices (TMs) used within the Earnings Module and Payment Adjustment Factors (PAFs) used in the Re-payments Module. - A Model Audit Report (one report per sale): Audit of the complex financial model used to forecast student loan cashflows. This should focus on any changes made to the model annually. It will include audit of any methodological changes, analytical review of TERM to make sure the model reacts to economic variations in an expected manner, and audit of the…
About the supplier
Bdo LLP: every public contract they have won, plus their Companies House record (company OC305127).