A practical guide for finance leaders who have not tested the audit or tax market in years and want to defend their choice to the audit committee.
Part of the SmartBuyer Procurement Guide Series.
What sits on the invoice as professional fees is usually four different purchases: statutory audit, audit-related assurance, tax compliance and tax advisory. Incumbency is sticky, independence rules limit which firm can hold which layer, and the market will not introduce you to alternatives. In 2024, 87% of the FTSE 350 was audited by a Big Four firm, and every company that changed auditor moved from one Big Four firm to another.
This guide sets out how to run an audit and tax tender that produces a better outcome and survives questions afterwards. It follows seven stages from mandate to handover and reflects what experienced specialists do differently, so you can defend the decision to your audit committee.
If any of these describe you, this guide will earn back its 15 minutes.
Most finance teams tender audit and tax only occasionally. This guide turns the working practice of SmartBuyer’s specialists into a practical process you can apply with confidence.
Every SmartBuyer guide is written by an experienced procurement specialist with real, hands-on delivery experience in the category — not theory. Our network of 500+ specialists has bought this category for organisations across the public and private sector.
