IPART is undertaking the first performance audit under the Electricity Infrastructure Roadmap.

Project goals

The primary aim of the engagement is to engage a suitably qualified auditor to assist us in planning and conducting performance audits of financial entities. This is not a financial audit.

We expect the auditor will work collaboratively with us throughout the audit especially in the audit planning and reporting stages.

At this early stage in the Roadmap, the audit proposes to assess if the Scheme Financial Vehicle and Financial Trustee have processes and systems of governance in place to ensure the Scheme Financial Vehicle is managing key financial risks to protect the interests of NSW energy consumers. This audit is important to give confidence to Government and consumers that the financial risks are managed appropriately and consumers interests are protected.

Scope

The primary output items from the project are:

1. Conduct a workshop with the Tribunal including workshop materials to:

• inform the Tribunal about the intended audit approach and audit scope
• to seek their feedback.

2. Draft audit scope incorporating Tribunal’s feedback (including objectives and criteria) appropriate for consultation with external stakeholders.

3. Draft audit plan.

4. Final audit scope and audit plan that incorporates relevant stakeholder feedback.

5. Draft Audit report for Tribunal consideration and feedback.

6. Draft Audit report incorporating Tribunal feedback for consultation with entities.

7. Final Audit report for Tribunal consideration and feedback.

8. Final Audit report.

Refer to the Scope of Works for comprehensive description of services required.