This audit would examine the effectiveness of Defence’s management of the Integrated Investment Program with a focus on Defence’s costing and approval processes for the projects that comprise the IIP.

The Integrated Investment Program sets out the specific defence capabilities the government will invest in to give effect to the 2024 National Defence Strategy (NDS). The government announced in the 2024–25 Budget process an additional $5.7 billion over the next four years to 2027–28 and $50.3 billion over the next decade to 2033–34, above the previous trajectory over that period. The total funding of $765 billion over the decade includes $330 billion in allocated funding for the capabilities set out in the Integrated Investment Program.

This audit would provide assurance to the Parliament on Defence’s processes for managing its Integrated Investment Program and its reported program and project costs.