Public procurement notice: Contract Award Notice
Published: 2024-10-22
Buyer: Invest International Public Programmes B.V.
Country: NL
Region: NL332
Contract type: Services
Procedure: Open procedure
CPV classification: 79200000 | 79210000
Estimated value:  EUR
Submission deadline: 2032-01-01
Award criteria: quality, price

Technical requirements: •	Preparing a proposal for the Internal Audit strategy during the term of the Agreement (7 years).
•	Maintaining the Internal Audit Charter.
•	Preparing and applying the Internal Audit methodologies, including reporting formats.
•	Preparing an annual audit plan based on a high-level risk analysis.
•	Presenting an audit scope for every audit to be executed.
•	Coordinating with the Contracting Authority's Director Risk & Compliance and with the management team regarding the annual audit plan including risk analysis.
•	Attending the ARC/SB twice a year.
•	Performing audits and discussing draft findings and recommendations.
•	Preparing reports on audit findings and progress reports.
•	Compile short annual report and a short report on work performed and results for ARC/SB meetings.
•	Monitoring the completion and monitoring of the Contracting Authority's outstanding audit items.
•	Perform 4 to 6 audits every year, covering the entire spectrum of Invest International. Organizing the Internal Auditor Function, including 4 to 6 audits per year
The Contracting Authority considers it important that Contractor proposes appropriate audits allocated for that particular year, assuming 4 audits for the first year. The objective of Internal Audit is to provide assurance and advice from an independent position by evaluating and improving the (effectiveness of the operational) processes of governance, risk management and control. In doing so, the design, existence and operation of the processes and policies are tested by means of audits. Conducting these audits should lead to the achievement of this objective.
The Contractor indicates in its proposal:
1.	Which 4 audits it proposes and why for the audit plan for the first contract year.
2.	Which 4 audits it proposes and why for the concept audit plan regarding the second and third contract year. 
To this end, the Contractor will select from the audits listed below: 
1.	Financial administration and payment transactions
2.	Investment process, including KYC, State aid and ESG
3.	Business development project process
4.	Information security
5.	Procurement
6.	Human Resource
7.	Legal
8.	Impact
9.	CSRD
10.	Taxonomy
11.	Compliance Policies & Framework
12.	Privacy
The Contracting Authority will assess the audit plan of the Contractor, including whether the Proposal is in line with the intended objective of the internal audits (breadth and depth), the Proposal is in line with the nature and processes of the Contracting Authority and the proposal is proportionate given the size of the organisation.
The Contracting Authority considers it important that the processes are well-designed, and the cooperation is appropriate, communication is good, and expectations are well-managed. The Contractor describes the following issues in its Proposal:
a.	The understanding the Contractor has of the Contracting Authority and the specific Business Units and processes and how the cooperation with the Contracting Authority is shaped in general.
b.	What the approach is regarding preparing the annual audit agenda/plan based on a high-level risk analysis, maintaining the audit charter and providing the short annual report on the work carried out and results and thus arriving at a final audit plan for the coming year.
c.	How the right stakeholders are identified and appropriately engaged.
d.	How (oral and written) communication is shaped around the conduct of audits.
e.	How progress and deadlines set for improvements are monitored and how to deal with the monitoring of open issues, follow-up monitoring.
f.	How results are presented to auditees, Management Team and ARC/SB.
g.	How cooperation with the external auditor will take shape.

The Contracting Authority will assess the approach of the Contractor, looking, among other things, at the extent to which the approach will be successful in the eyes of the Assessment Committee and will lead to:
1.	Understanding with the Contracting Authority's needs, so that they are addressed with proportionate and appropriate audit (research) questions.
2.	A clear audit process, so that the Contracting Authority knows what is happening when and what contribution is expected from the Contracting Authority.
3.	Monitoring of open points and assessment of good measures on these points by the Contracting Authority.
4.	A clear presentation and reporting of the outcomes that add value to the Contracting Authority.
Audits have different focus areas. The quality of the audit largely depends on the quality of the people assigned to the audit. It is desirable that there is partly a permanent workforce, but that specialists can also be deployed. The Contractor is requested to indicate in its Proposal, in relation to the 12 various audits as named under paragraph 5.4.1:
a.	How the relevant audit teams (including specialists) are composed.
b.	What (specialist) expertise, knowledge and experience are present within them.
c.	The job level and job description of one dedicated expert per audit: 
1.	Financial administration and payment transactions
2.	Investment process, including KYC, State aid and ESG
3.	Business development project process
4.	Information security
5.	Procurement
6.	Human Resource
7.	Legal
8.	Impact
9.	CSRD
10.	Taxonomy
11.	Compliance Policies & Framework
12.	Privacy
d.	What diversity in the composition of the teams (in terms of content) is like.
e.	The roles and tasks of individual team members.
f.	How the actual deployment of these team members is ensured and demonstrated.
g.	How the continuity of the team will be monitored.
Regarding c. the Contractor submits per audit in question (number 1 to 12) the CV (Appendix 11) of a dedicated expert who will be participating in the audit team.  

Furthermore, the Contractor submits the CVs (Appendix 11) of the 2 contact persons (Director/Principal and Senior).

This means that the Contractor submits 14 CVs (Appendix 11) in total: 12 CVs of that the Contracting Authority may assume will be used for the audit in question and 2 CVs of the 2 contact persons.

The approach and composition of the overall team will be assessed based on the information received. The Contracting Authority will assess whether the approach and composition can be relied upon, including the degree of affinity with the field and the processes of the Contracting Authority, the qualities and specialisms of the people and the relevant experience brought in. The Contractor should clearly indicate the permanent composition of the team across the proposed 4 audits of the first contract year (see paragraph 5.4.1: Audit Plan) and indicate per audit whether and if so, what specialist expertise will be added to the team.
The Contractor must fully complete the attached Pricesheet with the hourly rates (in Euro’s excluding taxes) per function (Appendix 6). 
The hourly rates are applied at:
1.	The experts performing the audits
2.	The experts performing the management/administration of the IAF.
Based on the hourly rates for the different seniority levels (Director/Principal (5%), Senior (40%), Medior (35%) and Junior (20%)) the weighted average hourly rate will be calculated.


Winner: Forvis Mazars  N.V.
Award value: 1.87
Number of bids: 4