# XBRL taxonomies IFRS 17 Insurance Contracts \(Provision of consulting & advisory services\)

> Contract award record from UK public-sector procurement sources.

## Key facts

- Public buyer: [THE FINANCIAL REPORTING COUNCIL LIMITED](/buyers/the-financial-reporting-council-limited/contract-awards)
- Contract winner: [Ernst & Young LLP](/contract-winners/ernst-young/public-sector-contract-awards)
- Award value: £50,000
- Tender value: £50,000
- Award date: 13 May 2022
- Published: 15 June 2022
- Contract start: 1 June 2022
- Contract end: 18 October 2022
- Stage: awarded
- Procurement category: services
- Notice ID: d3cb5998-a731-44e6-bfd8-a2353e6c4604-546603
- OCID: ocds-b5fd17-a45a3aa2-50e2-4e16-ba7e-e7f3897bbcc8

## Description

\*\*THIS OPPORTUNITY IS CLOSED\. THIS IS A CONTRACT AWARD NOTICE\*\*\* The purpose of the Financial Reporting Council \(FRC\) is to serve the public interest by setting high standards of corporate governance, reporting and audit and by holding to account those responsible for delivering them\. Delivering on our purpose will bring a variety of benefits\. Improved outcomes, created by each of our regulatory activities are shown in the circle; each of which can positively reinforce others in the circle and contribute to overall benefits for a wide range of stakeholders such as greater transparency, increased trust in UK markets and a lower cost of capital for companies\. Our direct stakeholders include companies, institutional investors, auditors, actuaries, accountants and their respective professional bodies\. Our indirect stakeholders include retail shareholders, suppliers, employees, customers, communities, pensioners and savers, and financial institutions, all of whom have an interest in the health of companies and other organisations within our existing and future regulatory scope and in the success of the UK corporate sector as a whole\. The FRC requirement was for for the development of content for the FRC's XBRL taxonomies relating to the implementation of IFRS 17 Insurance Contracts\. This is to facilitate the mandatory requirement of full digital tagging of any standards to HMRC\. To fulfil the requirement for the development of content for the FRC's XBRL taxonomies relating to the implementation of IFRS 17 Insurance Contracts the FRC are seeking to engage specialist input\. The ITT provided further information\. Additional information: \*\*THIS OPPORTUNITY IS CLOSED\. THIS IS A CONTRACT AWARD NOTICE\*\*\* Notes:- • Download and review the documents; • Observe the timelines and tender process • Register your interest in this opportunity by email to procurement@frc\.org\.uk • You will need to register your interest in this opportunity to receive the Q&A responses\. The FRC reserves the right to • extend the contract by an additional 12 month • to seek additional Services of the same nature under the contract \(whilst capping the aggregated contract spend to no more than £165,000\)

## Related contract awards

- [IT Managed Services](/contracts/ocds-b5fd17-59d84083-1d5d-4313-8c1d-e84566fe2b20): THE FINANCIAL REPORTING COUNCIL LIMITED
- [Research into the challenges faced by SMEs in relation to audit and corporate reporting](/contracts/ocds-b5fd17-2905acc8-c009-4f8c-b291-0a2b0ef3f2c6): THE FINANCIAL REPORTING COUNCIL LIMITED
- [Desk and Meeting Room Booking System](/contracts/ocds-b5fd17-a8523747-d40a-4a80-a743-98a61b50e372): THE FINANCIAL REPORTING COUNCIL LIMITED
- [Executive Coaching 2026/27](/contracts/ocds-b5fd17-e0f7ca82-1144-41e8-a93d-1839116f14d1): National Audit Office
- [Records Management SMEs 26\+](/contracts/ocds-b5fd17-c0b24a73-bdcd-4a06-98a1-4705c50cdf30): FCA
- [Insurance File Review](/contracts/ocds-b5fd17-186945b9-32b4-4d7d-9e1c-3319a907c106): FCA

## Source

[View the original notice on Contracts Finder](https://www.contractsfinder.service.gov.uk/Notice/d3cb5998-a731-44e6-bfd8-a2353e6c4604-546603)