OxLEP Ltd is seeking expressions of interest for the audit of the financial statements for the Company.

Formally launched by the Business Minister, Mark Prisk MP, in March 2011, Oxfordshire Local Enterprise Partnership is a business led strategic body with members and stakeholders from the business community, further/higher education, local authorities, and other sectors.

By working with these partners, OxLEP plays a central role in determining local economic priorities and undertakes activities to drive forward sustainable economic growth and create new jobs across the county.

OxLEP Ltd incorporated in March 2015 to provide a more robust governance structure

Though eligible to take the Small Company exemption, OxLEP has - since inception - sought formal audit of their accounts to ensure public funds are dealt with in a transparent manner.

We are seeking a firm, ideally but not necessarily with experience of LEPs, to undertake the audit of our financial statements in accordance with the Companies Act, including the preparation of a report to management on any issues identified.

We also require a separate controls review to be undertaken to provide assurance to our Finance and Audit Committee on the effectiveness of the control environment.

We would invite interested firms to tender based on preparing the accounts for OxLEP from ETB stage and also for auditing draft accounts as presented.

OxLEP maintains its own accounting system and payroll, processing its own transactions, but also works closely with Oxfordshire County Council which acts as accountable body and procures work, pays seconded staff and processes transactions on our behalf, which need to be reflected in our accounts.

The accounting treatments and audit work to be undertaken are therefore not straightforward and requires a level of understanding from auditors.

We would envisage a contract for two years, beginning with the audit of the 2017/2018 financial year, with the option to extend beyond that date.

For further information - or for a more detailed conversation - please contact Rob Granger, Head of Corporate Services, on: 0345 241 1196, or: rob.granger@oxfordshirelep.com.

The deadline for submissions of quotations for work will be 5pm on the 31 October 2017.