Tender Summary

Internal Audit Services for The Royal Hospital Chelsea

Buying Organisation

ROYAL HOSPITAL CHELSEA APPEAL LIMITED

Contract Value

£70,000

Suitable for SMEs

Yes

Suitable for VCSEs

Yes

Tender Description

RHC's governing document comprises of Letters Patent from the Crown. RHC's governance arrangements are similar to those of registered charities and follows the best practices, however, it is not a registered charity but is recognised as having charitable status by HMRC.

The principal activities of RHC are to care for the In-Pensioners (IPs) and the conservation of its historic buildings and grounds. RHC is partly funded by Grant in Aid from the MOD and from its two subsidiary companies, Royal Hospital Chelsea Appeal Ltd (RHCA), a charitable company and Chelsea Pensioners (RH) Ltd (CPRH), a trading company.

RHCA is the primary fundraising function, managing donations and legacies. CPRH manages all the commercial, retail and event income for the group. All activities are managed through a central finance function.

Internal audit is a vital element in the Hospital's governance. It provides the Commissioners, the Audit Committee, and the Accounting Officer with independent assurance about the adequacy and effectiveness of risk management, control and governance and value for money.

The service requires the delivery for the following.

¬ Estimated X 4 reviews per annum.
¬ X 1 follow up of previous actions (once a year)
¬ X 2 Progress reports for presentation at Audit Committee - This must demonstrate value added over the period, highlighting any systemic issues, and advising us of any relevant trends for the Royal Hospital Chelsea to better position itself for the future.
¬ Attendance at Audit Committee - twice a year

Examples of previous internal audit reviews include Staff wellbeing, staffing costs, Key financial controls (AR/AP), Heritage assets report, Risk Management and Occupancy Management.

Detailed information can be found in the ITT document attached to the advert.

Tender categories (products & services required)

Internal audit services (CPV 79212200)

Region

United Kingdom (UK)

Buyer Information