The SEPIDES Group (SEPI Desarrollo Empresarial S.A) awards to PKF Attest the auditing of the accounts for the financial years 2021, 2022 and 2023.
A new turn of the screw in the price war in the legal sector, where certain firms are finding in the public sector a vein to increase their turnover in a context of crisis.
The public procurement system, which bases its award formula mainly on the economic aspect, favors fierce price competition.
The latest example of this has been the audit service contract of the Sociedad Estatal de Participaciones Industriales (SEPI) for 2021, 2022 and 2023.
Its tender coincides with the moment of intense activity that the agency has been leading as a catalyst in the rescue of companies considered strategic.
The State's investment arm has selected PKF Attest, a professional services firm, to prepare its next three audits.
According to the documentation consulted by this newspaper, the Basque professional services firm will carry out this work for 290,114 Euros, less than half of the budget of 620,745 Euros established by SEPI.
In its work proposal, it proposes to carry out an evaluation of the internal control and of the net worth of SEPI and of all the controlled companies.
PKF has won the bidding process after having validated its economic offer, with a drop of close to 28% with respect to the initial value. On this occasion it has been favored by a series of factors, starting with the low turnout of the tender, to which only three bidders presented themselves.
The other two firms which showed interest in auditing SEPI were Mazars and Grant Thornton.
The former was excluded from the bidding process after failing to provide the required documentation, while the latter's bid was rejected for being "abnormally low".
Despite the fact that public agencies operate with closed budgets, bids below half are often considered disproportionate.
Source and access to the complete article: Confilegal.com
