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The objective of this audit is to examine the effectiveness of Industry Innovation and Science Australia, the Department of Industry, Science, Energy and Resources (Industry), and the Australian Taxation Office (ATO) administration of the Research and Development Tax Incentive program.
This audit would assess the management of interests, information, gifts, regulatory activities, internal controls and credit cards at the Australian Competition and Consumer Commission, the Australian Prudential Regulation Authority and the Australian Securities and Investments Commission, including direction and oversight by accountable authorities.
In December 2017, the Australian Government announced that it would provide the ATO with $20.9 million over four years from 2017–18 to establish a Superannuation Guarantee Compliance Taskforce to address noncompliance and safeguard employees' superannuation guarantee entitlements. The taskforce aims to improve the ATO's capacity to proactively monitor and take action to improve employer compliance with superannuation guarantee obligations.
This audit would examine how efficiently and effectively the National Measurement Institute (NMI) is administering trade measurement in Australia.
Measurement is integral to any well-functioning and productive economy, and plays a critical role in domestic law and international treaties for trade, commerce and consumer protection. Following a 2007 decision of the Council of Australian Governments to transfer trade measurement responsibilities from the states and territories, national trade measurement commenced on 1 July 2010. Trade measurement refers to all transactions in which the price of the commodities or goods is based on measurement of quantity or quality. The primary purpose of Australia's trade measurement system is to ensure that the pricing of traded goods is based on accurate measurement. Trade measurement covers both business-to-business transactions and business-to-consumer transactions. The NMI is responsible for ensuring that businesses and individuals comply with the rules and regulations so that there is accurate and reliable measurement in trade.
The timing of the audit would take into account the outcome of the review of Australia's regulatory framework for measurement, including trade measurement.
This audit would assess the effectiveness of the Treasury and other entities in implementing the 2018 government response to the Black Economy Taskforce's 2017 report into the black economy. The government accepted or partly accepted the majority of the 62 recommendations and 13 supplementary recommendations that apply across government.
As part of the 2018–19 Budget, the government announced a range of Black Economy Package measures, including further expansion of taxable payments reporting, combatting illicit tobacco, introducing an economy-wide cash payment limit of $10,000, new and enhanced ATO enforcement, removing tax deductibility of noncompliant payments, consulting on a new regulatory framework for Australian Business Numbers and changes to government procurement requirements to incentivise tax compliance in supply chains, and increasing the ability of enforcement agencies to detect and disrupt black economy participants.
This audit would assess the Australian Taxation Office's (ATO's) effectiveness in implementing the justified trust programs by which the ATO analyses a taxpayer's governance and systems for tax to determine the direction and level of effort for the engagement.
Since 2016, the ATO has applied justified trust through a program of assurance reviews of the top 100 taxpayers to ensure large public businesses, multinationals and superannuation funds are paying the right amount of tax and have the right tax governance processes in place. The program has been increased to the top 1,000 taxpayers, plus a top 500 and top 5,000 program in the private wealth sector. The audit would consider whether the program is appropriately designed, whether ATO staff comply with program policies, and whether the program is delivering expected benefits.
This audit would assess the effectiveness of the Aged Care Quality and Safety Commission's (ACQSC's) regulation of the aged care sector.
The ACQSC commenced operations on 1 January 2019. Its functions include approving providers of aged care services, accrediting aged care service, ensuring services' compliance with relevant legislation, and monitoring and enforcement of quality and prudential standards.
On 1 March 2021, the Royal Commission into Aged Care Quality and Safety reported that the ACQSC and its predecessors had 'not demonstrated strong and effective regulation' of the aged care sector. On 11 May 2021, the Minister for Health and Aged Care announced $262.5 million in funding for the ACQSC, as part of a $17.7 billion package of measures to respond to the findings of the royal commission.
The audit would examine whether the ACQSC effectively regulates the aged care sector, including identifying risks associated with individual providers and the aged care system, conducting monitoring and assessment activities that effectively address those risks, and taking enforcement action that holds regulated entities accountable for noncompliance with standards and obligations.