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This audit would assess the extent to which entities’ use of the Business Advisory Services Panel supported the achievement of value for money.
The Business Advisory Services Panel is a cooperative procurement arrangement managed by the Department of Finance. Such arrangements are intended to achieve efficiency and reduce risk, while supporting entities to achieve value for money outcomes. As of 17 December 2021, there were 48 suppliers on the panel, with 134 Australian Government agencies authorised to access it, and 625 contracts reported totalling $511 million. The business advisory services available are scoping studies and other reviews, commercial transactions, and ad hoc commercial and/or financial based advice. The panel commenced in October 2015 and is due to expire in October 2022; new work orders should now be under the Management Advisory Services Panel.