VAGO is responsible for the annual financial audits of about 550 public sector organisations including government departments, public bodies, superannuation funds, health services, universities, TAFEs and local government. Audit Service Providers (ASPs) are contracted to perform audit work to support the Auditor General and sign audit opinions as delegated by the Auditor-General.
VAGO’s ASP panel requirements and processes are no longer fit for purpose. Opportunities were identified to improve the panel composition, engagement process, allocation methodology, panel performance management, and the quality and nature of services being delivered through the panel.

Furthermore, a new ASP panel arrangement needs to reflect new qualification requirements such as data protection and governance, and higher assurance about firm quality control and assurance.

In this Request for Application (RFA), VAGO wishes to establish a panel of suitably qualified ASPs to deliver financial audit services for the Victorian public sector.

The objectives of the new panel arrangement are to:

• obtain access to a consistent level of audit quality, and value for money audit services
• achieve continuous improvement towards best practice in financial audit services
• engage services providers with a strong cultural fit with VAGO and will develop strong relationships with them
• achieve process efficiency and effectiveness

Once qualified, the Panel will not be re-opened for qualification until 2026 unless VAGO determines that new ASPs are required during this period or in other circumstances as determined by the Auditor-General.