External Audit Services

University of the Highlands and Islands (UHI) has a requirement for External Audit Services. The University has three (3) wholly owned subsidiary companies, UHI Research and Enterprise Ltd (UHIRE), MPI (Dornoch) Limited and MPI (Elgin) Limited whose accounts are consolidated with the University’s.  It is expected that these services will be required from June 2026 for an initial period of 4 years, unless terminated in accordance with the provisions of the Contract, with UHI having the option to extend for a further 2 x 12 months periods following the Initial Term.
The 4 year budget currently available to deliver this service is between GBP180,000 to GBP240,000 (excluding VAT). The value provided in section II.1.5 and II.2.6. is the estimated maximum value for the full contract term (initial term plus optional extensions).

The first Audit required will be for the period 1st August 2025 to 31st July 2026.  UHI’s Financial year runs from 1st August to 31st July each year and will do annually until the end of the contract period including any optional extension(s). The annual audit plan to be agreed between the Contractor and client will ensure effective delivery of services to ensure that statutory and regulatory reporting deadlines are met with accounts approved by UHI Court prior to 31st December annually for the preceding financial year.
The University seeks a Supplier to issue an annual report on its consolidated financial statements which provides an opinion as to their compliance with the Statement of Recommended Practice: Accounting for Further and Higher Education (SORP 2019) and any subsequent revisions applicable during the contract period, the Charities and Trustee Investment (Scotland) Act 2005, regulation 14 of the Charities Accounts (Scotland) Regulations 2006 and Financial Reporting Standard (FRS) 12.