NAO modifies audit contracts, adds £9.6M and extends term.
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The National Audit Office (NAO) has modified its Financial Audit and Assurance Services contracts, originally awarded under reference GEN_20_22, to increase the total contract value by £9.6 million and extend the existing arrangements. The modification ensures continuity of audit and assurance services for organizations crucial to UK Government debt and cash management. The NAO cites significant inconvenience, duplication of costs, and disruption to audit planning and quality assurance as reasons for not changing contractors. The nature, scope, and objectives of the contracts remain unchanged, and the increase is below 50% of the original contract value.