Frequently Asked Questions on the FINANCIAL VIABILITY AND RISK FVRA PROCESS
Do I need to complete the FVRA?
What is the benefit of having an accountant complete the FVRA rather than the bid team?
Do I need to complete my parent company information?
All companies no matter of size must complete the FVRA if this document is included as part of the bid pack. You will need to complete the income statement and balance sheet information. Not all frameworks require the cash flow section to be included, this depends on the framework being applied for.
Do I need to complete my parent company information?
What is the benefit of having an accountant complete the FVRA rather than the bid team?
Do I need to complete my parent company information?
You will be required to complete the FVRA if you have a parent company, you will also be required to complete the ultimate parent information, if relevant. If the parent is a foreign entity the information is still required to be completed. This process is not exclusively for UK based companies. The FVRA is set up to manage currency translation.
What is the benefit of having an accountant complete the FVRA rather than the bid team?
What is the benefit of having an accountant complete the FVRA rather than the bid team?
What is the benefit of having an accountant complete the FVRA rather than the bid team?
If the information is not presented correctly the FVRA will be returned to the bidder to amend and resubmit. This could cause a delay in gaining access to a DPS and if the information is not resubmitted within the required timeframes could deem the framework application non compliant. Having our team manage this process for you will ensure you minimise the risk of requests for further information.