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Industry, Innovation and Science became a component of the Jobs and Innovation portfolio in December 2017 to enable growth and productivity for globally competitive industries. The portfolio consists of the former portfolio of Employment, now Jobs and Small Business; and Industry, Innovation and Science. Audit considerations for the Jobs and Small Business component of the portfolio are discussed separately.
Read an overview of the Industry, Innovation and Science portfolio including details of key activities, expenses and staffing levels. The audit focus section outlines the influences on the ANAO’s allocation of financial audit resources and the selection of performance audit topics and other activities. Also included is a list of material and non-material entities within the portfolio with their corresponding risk profile and key risks. Any risks that are considered key audit matters (KAMs) by the ANAO are separately identified.
This audit would examine IP Australia’s management of the implementation of the Rights In One program.
Online transactions account for around 97 per cent of IP Australia’s customer transactions. This means that information and communications technology (ICT) systems are central to the organisation’s intellectual property rights management work. In this context, IP Australia has commenced a large, multi-year ICT project — the Rights In One program. This project involves the development of a new system to manage IP Australia’s rights administration workflow across patents, trademarks, designs and plant breeders’ rights. It is expected to allow IP Australia to streamline its ICT operations and retire a range of legacy systems, thus delivering efficiencies and enhancing productivity.
IP Australia has reported that, in 2015–16, it completed the build of the first component, being the administration system for designs.
This audit would examine whether the Australian Nuclear Science and Technology Organisation (ANSTO) has effectively managed nuclear and related scientific assets to support Australia’s international competitiveness in scientific research, and provide a reliable domestic supply of radiopharmaceuticals to the Australian nuclear medicine community.
ANSTO manages over $1 billion of nuclear and related scientific assets, for which it incurred over $84 million in depreciation in the last financial year. These assets include highly specialised facilities, such as the Open Pool Australian Lightwater nuclear research reactor, the Australian Synchrotron electron accelerator, and nuclear medicine production equipment. These facilities aim to advance Australia’s commercial and scientific interests by employing world-leading technology.
ANSTO has identified asset management and expansion as a strategic corporate objective.
The Australian National Audit Office (ANAO) publishes two reports annually addressing the outcomes of the financial statement audits of Australian government entities and the Consolidated Financial Statements (CFS) of the Australian Government, to provide the Parliament of Australia with an independent examination of the financial accounting and reporting of public sector entities. This report will focus on the results of the interim audit phase, including an assessment of entities’ key internal controls, of the 2018–19 financial statements audits of a range of entities including all departments of state and a number of major Australian government entities.
The objective of the audit is to assess whether the award of funding under the Regional Jobs and Investment Packages program was informed by appropriate departmental advice, and that processes complied with the grants administration framework.