Process to Join

Higher Education Institutions (HEIs) can apply to become a member institution of KCG Audit Limited.

Applications for admission are considered by the KCG Board of Directors (KCG Board) after a period of discussion with interested institutions. Before admission, KCG will deliver a detailed audit needs assessment to determine the number of audit days to be delivered and included within KCG’s shared cost model. The shared cost model drives the composite daily rate at the breakeven point, which is applied for all member institutions and is determined in June each year effective from 1 August.

KCG offers institutions an opportunity to ‘bring in-house’ their internal audit arrangements, on a shared service and shared cost basis. The process from enquiry to admission can take several weeks to negotiate.

Institutions that wish to join KCG need not instigate a formal tender process. This is because of the ‘Teckal in-house exemption’, which means that under English law, in certain circumstances a contract let by a public body will not be deemed to be a contract for the purposes of the public procurement regime.  The KCG arrangements fulfil the circumstances for the Teckal in-house exemption to apply.

Membership is regulated through a Management Agreement and Deed of Adherence, signed by each of the member institutions on the admission of any additional institutions. The Membership Agreement and Articles of Association provide the framework for the company’s governance arrangements.

KCG offers its members only the very highest quality of staff. On admission, member institutions are required to subscribe to the concept of high quality professional internal audit and management assurance services, delivered at reasonable cost that is sufficient to deliver ‘added value’, and to make a positive contribution to the achievement of the member institutions’ strategic aims and objectives. All costs are shared equitably amongst the KCG  Member institutions in proportion to the number of audit days received per annum and in accordance with the Membership Agreement.

KCG is not profit-making. Additional income streams from non-member institutions are costed and priced on a commercial basis and intended to generate surpluses which are utilised and invested to develop the company and equip it for the longer term. VAT savings are also achieved for member institutions through membership of the cost sharing group.

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Enquiries &
questions

When it comes to something as important as ensuring your organisation is running smoothly and achieving its goals, we know that inevitably comes with questions. Feel free to contact us with any queries or questions you might have about KCG.