Internal Audit Partner - Financial Audit Project - insw3185

INSW is seeking to appoint one suitably qualified and experienced Internal Audit Service provider capable of delivering a 'full service' Internal Audit function to meet the requirements of TPP 20-08 Internal Audit and Risk Management Policy for the NSW Public Sector. • INSW is not resourced to provide the required service internally. • This procurement is required as the current contract with KPMG expires in October 2022. Market approach Planned market approach • Procurement via the NSW Government Scheme 0005 (Performance Management Services Scheme) using a limited tender approach. Justification for market approach • Using the NSW Government scheme that has prequalified Internal audit Suppliers (Category 6A of SCM0005) with pre agreed terms and conditions and a standard commercial framework minimizes commercial and performance risk to INSW in this procurement. Selection of Potential Suppliers • An assessment of the requirements for this project identified that a high-level skill set in audit services was required to meet INSW’s identified needs. This includes the ability to scale resources dependent specific INSW requirements that in some cases may be unforeseen. • It was determined that Tier 1 or Tier 2 Accounting Firms were best equipped to meet INSW’s needs. • 2 x Tier 1 and 2 X Tier 2 Firms were then selected from SCM0005 based on known capabilities. As the incumbent provider, KPMG, has provided high quality services the company was included in those selected for the limited tender. • The requirements of SCM0005 are for procurements over $250,000 a minimum of three suppliers are requested to participate in a limited tender process. In this case 4 suppliers were selected to provide equal opportunity across Tier 1 and Tier 2 Suppliers. • It is assessed that KPMG has no material advantage as the incumbent and have been removed from any access to this tender document. The requirements of TPP 20-08 Internal Audit and Risk Management Policy for the NSW Public Sector are publicly available and all selected respondents have experience auditing against these requirements.