London LGPS CIV Ltd (‘London CIV’ or ‘LCIV’) is a Local Government Pension Scheme (LGPS) pool responsible for pooling the investments of 32 London Local Authority (LLAs) pension funds, formed to significantly reduce costs while delivering enhanced overall investment performance. The strategic objectives of LCIV are to deliver cost savings, provide a broader range of investment opportunities, provide transparency and providing improved investment outcomes.

London CIV was authorised as an Alternative Investment Fund Manager (AIFM) and had 8 700 000 000 GBP of assets under management as of 31.5.2019. London CIV’s scope of regulatory permissions have been expanded to operate unauthorised Alternative Investment Funds (AIFs). Work is underway to expand the current fund offering to include alternative investments. In support of these strategic objectives, London CIV is seeking to appoint an independent auditor.

Specific audit services required will include, but will not be limited to:

— planning, management and providing an audit opinion on each annual report and financial statements prepared in accordance with United Kingdom Generally Accepted Accounting Practice and the Companies Act 2006, Investment Association SORP or other applicable financial reporting and regulatory framework,

— reporting to management, the Compliance, Audit and Risk (CARCO) Committee and the Board including attendance at meetings as appropriate,

— CASS assurance work, we do not currently hold any client money or assets so this is negative assurance, but this could change in the future,

— rates clearances on fund audits prior to year-end distribution payment.

The contract will be for 5 years with a break clause at year 3. The successful bidder will be expected to demonstrate that they can provide high quality statutory independent audit services.