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September 28, 2011

Mazars and DA Partnership form alliance

Mazars UK has formed an alliance with the District Audit Service (DA) Partnership in its bid for the UK Audit Commission tenders.

DA Partnership managing director Gareth Davies is leading the bid by the employee-owned organisation, which hopes to win a maximum 40% of work available for a single bidder.

Mazars is providing financial backing to the DA team and will take a share in the new company if the bid is successful.

Davies, who is taking a leave of absence from as the Audit Commission’s head of audit to work on the bid, said they plan to “create a vibrant new employee-owned firm to offer high quality audit and advisory services across the sector”.

Davies told International Accounting Bulletin that “the alternative to not bidding on behalf of this new enterprise is to essentially see the organisation broken up and taken over by, probably, the big firms and this organisation goes back a long way…So we think there’s still something about it which is worth building on rather than just see it disappear”.

Mazars UK public interest markets head David Herbinet said the DA’s decision to work with Mazars “is a significant endorsement of our expertise and integrity and creates an offer for the public sector that provides the best of both commercial and public sector auditing expertise and skill sets”.  

Davies said that in the event of the DA Partnership being awarded a tender, Mazars will continue to provide financial support by sharing the infrastructure costs. 

If the tender is successful, DA Partnership said it will allocate some of the profits to a charitable foundation, which will conduct research into improving financial reporting.

The commission, that is being scraped in less then a year as part of the UK governments spending cuts, employs 2,000 people and is responsible for audits of public services such as the National Health Service.

The deadline for submission of tenders is December 2011 for principal body procurement and January 2012 for small body procurement.  The commission expects to award contracts in February 2012 for a start date in October 2012.

Related articles

UK audit commission tendering begins

Private sector to handle audit commission work

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