NAO modifies audit contract, adds £9.6M for pension audits.
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The National Audit Office (NAO) is modifying an existing contract for financial audit and assurance services, originally awarded under procurement reference GEN_20_22. The modification increases the contract value by £9.6 million and extends the term to ensure continuity of statutory audit delivery. The services cover pension bodies, including significant public sector pension schemes requiring actuarial and pensions audit expertise. The NAO cites that changing contractors would cause significant inconvenience, duplication of costs, and disruption to audit planning and quality assurance. The modification does not alter the nature, scope, or objectives of the contracts.