Board Effectiveness Review

What the buyer is asking for

BACKGROUND The Financial Reporting Council (FRC) regulates auditors, accountants and actuaries and sets the UK's Corporate Governance and Stewardship Codes. As the Competent Authority for audit in the UK, we set auditing and ethical standards and monitor and enforce audit quality. The purpose of the FRC is to serve the public interest and support UK economic growth by upholding high standards of corporate governance, corporate reporting, audit and actuarial work. The FRC's core objectives are to promote high-quality corporate governance and reporting, support effective audit and actuarial work, hold relevant parties to account through proportionate supervision and enforcement, and contribute to well-functioning UK capital markets in the public interest. PROJECT REQUIREMENTS The Board of the Financial Reporting Council (FRC) is made up of non-executive and executive directors and is collectively responsible for the long-term success of the FRC. All Board Members, including the CEO and Chair, are appointed by the Secretary of State for Business, Innovation, Science and Trade. The Board's role is to provide strategic leadership of the FRC within a framework of prudent and effective controls which enables risk to be assessed and managed. The Board sets the FRC's strategic aims, ensures that the necessary financial and human resources are in place for the FRC to meet its objectives and reviews management performance. The Board also sets the FRC's values and culture and ensures that its obligations to its stakeholders and others are understood and met. All directors must act in what they consider to be the best interests of the FRC, consistent with their statutory duties. For further information see FRC Board The UK Corporate Governance Code requires that companies which follow the Code should consider undertaking an externally facilitated Board effectiveness review every three years. THIS TENDER The FRC is seeking an experienced, independent external reviewer to undertake a Board Effectiveness Review covering the Board, its Committees and wider governance arrangements. PLEASE REFER TO THE INVITATION TO TENDER (ITT) FOR FULL DETAILS INCLUDING HOW TO SUBMIT YOUR TENDER IMPORTANT: • Please register your interest (and raise any tender queries) by emailing the FRC's procurement team - procurement@frc.org.uk • The FRC will share all tender queries and answers with those that have registered. • Your tender submission must be submitted within the deadline by email to procurement@frc.org.uk

What you must already have

Conditions of participation. These are pass or fail, so check them before writing anything.

• The FRC performs functions of public importance, including the regulation of entities that may be interested in participating in this Procurement. Tenderers should carefully consider, before submitting a Tender, whether their participation could give rise to an actual, potential or perceived conflict of interest, including any perception that the FRC's independence, impartiality or reputation could be compromised. Where such a conflict or perceived conflict may arise, Tenderers are expected to assess whether it is appropriate for them to participate in the Procurement and, where relevant, to provide full details of the circumstances and any proposed measures to manage, mitigate or remove the conflict. The FRC will assess any actual, potential or perceived conflict, and any proposed mitigation, objectively. If the FRC is not satisfied that the conflict can be adequately managed, mitigated or removed, the FRC reserves the right to exclude the Tenderer from further participation in this Procurement.

How contested is this?

Buyers publish how many bids they received. Across 29 comparable procurements we can tell you the typical field size, how often one of these goes uncontested, and whether the buyer awards on price or on quality.

Timeline

3 published dates · Europe/London

1. Tender notice publishedyesterday

   28 Sept 2026, 12:25 BST
2. Clarification questions byin 17 days

   16 Oct 2026, 12:00 BST
3. Submission deadlinein 24 days

   23 Oct 2026, 12:00 BST

Commercial outcome and contract awards

Nothing awarded yet

Notice history

1 event · 1 release on Find a Tender

1. Tender notice28 Sept 2026, 12:25 BST091391-2026

Documents

• biddingDocuments
• biddingDocuments
• Tender notice on Find a Tender