Provision of Audit services to Digital Manufacturing Ireland

AI-generated analysis of the documents. Check the official notice and any amendments for current submission details.

1. At a glance

Buyer Title CPV / category Estimated value Per-year Procedure type Lots Location Contract length Submission deadline Go-live / start |--------------------------------|------------------------------------------------|-------------------------------|------------------|----------|----------------|------|----------|------------------|-------------------------------|------------------| Digital Manufacturing Ireland Provision of Audit services to Digital Manufacturing Ireland Legal & Financial Services €80,000 not stated Open not stated not stated 2nd October 2024, 13:00 not stated

2. Scope of Work

Digital Manufacturing Ireland (DMI) seeks to engage a qualified auditor to provide statutory auditing services and corporation tax services for a term of three financial years, from 2024 to 2026. The contractor will be responsible for the preparation and filing of financial statements for DMI and its wholly owned subsidiary, DMI Services Limited, on a consolidated basis.

The contractor's day-to-day activities will include:

• Annual Financial Statements: Preparation of individual financial statements for DMI and DMI Services Limited, as well as consolidated group accounts.
• Audit Plan Presentation: Attendance at two Audit and Risk Committee (ARC) meetings to present the Audit Plan and Audit Findings.
• Timeline Adherence:
• Financial Year-End: 31st December for both entities.
• Final Trial Balances: Made available by the DMI Finance Team on 31st January.
• Audit Fieldwork Completion: By 28th February.
• Final Financial Statements Issuance: Mid-March, with findings presented to the ARC.
• Corporation Tax Returns: Preparation and filing of annual corporation tax returns based on the financial statements, with a filing deadline of 2nd October 2024.

The contractor must demonstrate a clear understanding of DMI's operational needs and the specific requirements of the audit process.

3. Background & buyer context

Digital Manufacturing Ireland (DMI) is a government-funded initiative aimed at transforming the manufacturing sector in Ireland through innovative technology. This procurement aligns with DMI's strategic objective to enhance the efficiency and competitiveness of the manufacturing industry. The decision to procure audit services now is driven by the need for compliance with statutory requirements and to ensure transparency in financial reporting. The contract is expected to support DMI's mission of facilitating the adoption of digital technologies in manufacturing.

4. Eligibility & selection criteria

Bidders must meet the following eligibility and selection criteria:

• Turnover Requirement: Minimum average annual turnover of €1,000,000 over each of the last three financial years.
• Insurance:
• Employer’s Liability: €12.7 million limit for any one claim.
• Public Liability: €6.5 million limit for any one claim.
• Professional Indemnity: €1.5 million for each claim.
• Certifications: Not specified for this tender.
• Past Experience: Demonstration of at least three comparable projects delivered in the last three years.
• Personnel: Key personnel must have relevant qualifications and experience, though specific roles are not detailed.
• Geographic / Facility Constraints: Not specified for this tender.

5. Award criteria & scoring

Bids will be evaluated based on the following criteria:

The overall scoring will prioritize qualitative criteria before evaluating cost.

6. Submission requirements

Bidders must submit the following documentation:

• Method Statement: A detailed response document addressing the requirements outlined in the RFT.
• CVs: Up to five CVs of key personnel, limited to two pages each.
• Pricing Schedule: Completed using the provided template.
• Case Studies: Evidence of at least three comparable projects.
• Declarations: Including ESPD, Bona Fides, Tax clearance, and Conflict of Interest.
• Mandatory Site Visit: Not specified for this tender.
• Submission Portal: All submissions must be made via eTenders, adhering to specified format rules.

7. Key dates & process

8. Contract terms that matter

Key contract terms include:

• Term Structure: Initial term of 36 months with an option to extend for an additional 12 months.
• Payment Terms: Not specified in the documents.
• Key SLAs/KPIs: Adherence to the timeline for financial year-end and reporting.
• Termination Clauses: Not specified, but the contract may be terminated with notice.
• IP Ownership: Not specified.
• Sub-contracting Rules: Allowed, but the prime contractor must remain responsible for the contract.

9. Risks, red flags & unusuals

Potential risks and concerns include:

• Turnover Requirement: The minimum turnover requirement of €1,000,000 is significantly higher than the estimated contract value of €80,000, which may limit participation to larger firms.
• Timeline Constraints: The tight deadlines for financial reporting and audit completion may pose challenges for bidders, particularly if they are not familiar with DMI's processes.
• Lack of Specificity in Personnel Requirements: The absence of detailed personnel requirements may lead to ambiguity in qualifications needed.

10. SME fit assessment

This tender is open to:

• Credible Bidders: Firms with a minimum turnover of €1,000,000 and relevant auditing experience, particularly those familiar with public sector audits.
• Consortium/Sub-contracting: Allowed, enabling smaller firms to collaborate with larger entities to meet requirements.
• Bid Preparation Effort: Estimated at several days to compile the necessary documentation and responses.
• Pwin Signal: The incumbent's strength and the high turnover requirement may indicate a competitive landscape, potentially favoring established firms.

11. Where to dig deeper

• Source RFT Filename: Request for Tenders - Audit Services for DMI VF- updated 24.09.24.pdf
• eTenders CFT ID: Not specified.
• Contact Email: Not specified; queries must be directed via eTenders messaging.
• Important Attachments: Appendix 1 — Pricing Schedule, Appendix 2 — Tenderer’s Statement, Appendix 3 — Declaration Form.