DFE - FE Colleges -The Provision of Internal Audit Services for the FE Colleges in NI

South Eastern Regional College (SERC) on behalf of the six Regional Colleges in Northern Ireland (“NI Colleges”) wishes to appoint a single Supplier for the provision of Internal Audit Services.

In accordance with the Partnership Agreements between the Colleges and the Department of Finance’s (DoF) Audit and Risk Assurance Committee Handbook (NI), all Further Education Colleges in Northern Ireland are required to have an internal audit service. The prime responsibility of the internal audit service is to provide the Governing Bodies, Accounting Officers and College management with assurance on the adequacy and effectiveness of the internal control system of each College.

Each College is required to ensure that it has sound systems of financial and other management controls. The principal objective of the internal audit service should be to review, appraise and report on the adequacy, reliability and effectiveness of the systems and controls established by management to ensure

• the financial business of the College must be conducted in accordance with the arrangements and conditions set out in the Financial Memorandum;
• every effort must be made to ensure that the College operates within its available funding;
• due attention must be paid to the efficient and effective management of all the College’s resources and expenditure, capital assets, equipment and staff so that public funds are not put at risk and that value for money and other financial considerations are taken into account in reaching decisions and in their execution;
• the College must comply with such other relevant guidance/instructions on financial control as are issued by the Department from time to time; and
• the College should formulate and implement a policy to ensure that its accounting and other procedures contain all reasonable safeguards against fraud and theft.

Suppliers should refer to the Specification Schedule within eTendersNI for full detail on the deliverables of this contract.