Awarded 29 Jan 2025
This is an awarded contract.
View Live TendersProvision of Internal Audit and Professional Services to Power and Water Corporation (36-Month Contract)
About
Power and Water Corporation awarded a contract to Scyne Advisory Pty Ltd for delivery of an outsourced internal audit program over a 36-month period.
The contract covered audit and assurance services, advisory services, and other professional consulting services as requested by the Power and Water Board.
Scyne Advisory was required to develop a risk-based three-year rolling strategic internal audit plan for annual approval by the Power and Water Board via the Audit and Risk Management Committee (by March/April each year), and to plan and perform internal audits in line with the approved plan.
Engagements were to include appropriate subject matter experts, a detailed scope document approved by the relevant executive sponsor, and fieldwork attendance at Power and Water sites unless otherwise agreed.
Internal audits were required to meet agreed milestones and timeframes, and the provider was required to attend and present audit outcomes at approximately five Audit and Risk Management Committee meetings per year.
Other Power and Water business units could elect to use the provider for additional audit and assurance activities.
The contract was managed by the Safety, People and Governance business unit.
Contracts for outsourced internal audit programs like this were typically awarded to specialist advisory firms with demonstrated experience in IIA-aligned audit methodologies and risk-based audit planning, enabling the agency to obtain independent assurance and access to subject-matter expertise without expanding in-house audit capacity.
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