Contract Details
Title

Research Services - Innovation and Competition in the Audit Market United Kingdom

Country
Language
English
Organization
Published Date
16.03.2024
Awarded Date
04.10.2022
Overview
Contract Award's Details : Research Services - Innovation and Competition in the Audit Market THE FINANCIAL REPORTING COUNCIL LIMITED Research Services - Innovation and Competition in the Audit Market ***THIS IS A CONTRACT AWARD NOTICE*** ABOUT THE FRC 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. As the Competent Authority for audit in the UK, the FRC sets auditing and ethical standards, and monitors and enforces audit quality. The FRC will be transformed into a new regulator: the Audit, Reporting and Governance Authority (ARGA) in the future, following three independent reviews and recommendations, and the Government's 2021 consultation Restoring trust in audit and corporate governance and the Government's response to that consultation. ABOUT THE RESEARCH PROJECT The aim of this research project is to further our understanding of how innovation and competition interact in the market for audit services. The FRC's strategic objectives for 2022-25 include promoting improvements and innovation in the areas for which we are responsible and creating a more resilient audit market through greater competition and choice. The outputs of this research project will inform the FRC's work to drive up audit quality and improve the functioning of the audit market. The outputs that will be delivered by this research project (included but not limited to): - A short literature and (secondary) evidence review. This should include: • a summary of any research on the links between innovation and competition in the audit market. For this research project we are concerned predominantly with the audit market for FTSE 350 companies but would also be interested in innovation-competition dynamics in any other parts of the audit market for UK Public Interest Entities (PIEs) or in audit markets elsewhere in the world. • a summary of the latest research, both empirical and theoretical, on the interaction between innovation and competition at a more general level. This does not necessarily need to be audit specific providing findings could be of relevance to the audit market. • a summary of the available (secondary) evidence on innovations in audit since the previous work by the Competition Commission referenced above. - Informed by the literature review and the evidence identified above, a short discussion paper with questions for discussion at the workshop (see below) with relevant innovation and competition experts. - A small-scale structured (online) workshop with relevant innovation and competition experts from academia and other institutions such as think tanks and regulators (including the FRC). - A short, written report. ***AWARD NOTICE*** Additional information: THIS IS A CONTRACT AWARD NOTICE. THIS TENDER HAS BEEN COMPLETED. United Kingdom Contract value : 29,900.00 GBP Contractors : UEA Consulting Ltd, LSE Enterprise Ltd 26/09/2022 05/10/2022 31/03/2023 78680426 05/10/2022 THE FINANCIAL REPORTING COUNCIL LIMITED Address : 8th Floor, 125 London Wall EC2Y5AS, LONDON www.frc.org.uk Head of Procurement procurement@frc.org.uk 020 7492 2300 United Kingdom United Kingdom Contract Awards United Kingdom ocds-b5fd17-8c50ff07-5094-4a64-936b-88df1af45661-575937-frc2022-0146 26/09/2022 31/03/2023 29,900.00 GBP
NAICS
Business Justice Frozen Cakes Justice Pulp Other Justice Trust Military Armored Vehicle Corporate Trusts Photographic Film Management Other Justice Trusts Boiler Funds
CPVS
Tanks Tanks, reservoirs, containers and pressure vessels Pies Tanks, reservoirs and containers; central-heating radiators and boilers Research, testing and scientific technical simulator Business services: law, marketing, consulting, recruitment, printing and security Paper, printing and bookbinding machinery and parts Monitors Other services
UNSPSC
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Regions
Europe Northern Europe
Sectors
Building Environment and Pollution-Recycling Automobiles and Auto Parts Supply Banking-Finance-Insurance Roads and Highways-Bridge Infrastructure Printing and Publishing Services Railways-Rail-Railroad Defence and Security Construction Energy-Power and Electrical Computer Hardwares and Consumables Building Material Marine
Contractor
Contract Value
29,900.00 GBP
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