MADRID, 4 Dic. (EUROPA PRESS) -

The Bank of Spain has begun the search for a company that audits its annual accounts for five years, from 2023 to 2027, for a total amount of 983,125 euros (VAT included), according to the tender launched by the supervisor this week.

In addition, the auditor will also be in charge of verifying certain requirements in the management of the European Central Bank (BE) reserves carried out by the Bank of Spain and confirming to the ECB auditors the unadjusted amount of euro bills in circulation.

For the award of the contract, a restricted procedure will be followed, so it will be the Bank of Spain itself that decides which companies to invite to participate. The supervisor will use a series of requirements, such as having already carried out auditing of annual accounts at central banks or credit institutions in the last three years, to select the candidates who will be invited to submit an offer.

After the award made by the Bank of Spain, the choice must also be approved by the Council of the European Union, following a recommendation from the ECB. In the case of not obtaining the required approval, the successful bidder will assume the consequences, without the right to any compensation. In addition, the Bank of Spain may continue with the procedure, rendering the adjudication act carried out without effect.

The contract will be valid from the date of signing, with a total duration of five years. The audit will begin with the annual accounts for 2023 and will end with those for 2027. The expected start date of the service is September 1, 2023.

The expiration of the agreed term will determine the termination of the contract, although the Bank of Spain may extend it, without prior notice, until the execution of the new contract begins.

The supervisor also indicates that Mazars, the company that has performed the audit services between 2018 and 2022, will not be able to participate in this tender.