This audit would assess the effectiveness of the Department of Finance’s (Finance’s) administration of the governance and accountability framework for government business enterprises (GBE), including its support and advice to the Minister for Finance, who is a GBE shareholder minister. The audit may also review entities’ implementation of framework requirements and expectations set out in the GBE guidelines.

A GBE is a Commonwealth entity or Commonwealth company that is prescribed pursuant to the Public Governance, Performance and Accountability (PGPA) Act 2013 and PGPA Rule. Nine GBEs have been prescribed. Two GBEs are corporate Commonwealth entities: Australian Postal Corporation and Defence Housing Australia. Seven GBEs are Commonwealth companies: ASC Pty Limited, Australian Naval Infrastructure Pty Ltd, Australian Rail Track Corporation Limited, National Intermodal Corporation Limited, NBN Co Limited, Snowy Hydro Limited and WSA Co Limited. Finance provides advice to the Australian Government relating to its GBEs and other commercial entities and works with partner shareholder departments in supporting ministers.

Work program portfolio

This potential Performance audit is featured in 1 annual audit work program portfolio: