Australian Reinsurance Pool Corporation (ARPC) has welcomed the terms of reference for the 2018 Performance Audit: Management of the Terrorism Reinsurance Scheme, being undertaken by the Australian National Audit Office (ANAO).
The objective of ANAO’s audit is “to assess the effectiveness of the Australian Reinsurance Pool Corporation’s management of the terrorism reinsurance scheme.”
“I am very pleased to welcome the ANAO terms of reference and look forward to supporting it in undertaking this important work,” said Dr Christopher Wallace, ARPC Chief Executive.
The ANAO is the national auditor for the Australian Government. The ANAO reports to Parliament on where improvements can be made and makes specific recommendations to assist public sector entities to improve performance.
The ANAO proposes to examine for ARPC:
- Are there processes in place that support the effective management of the scheme?
- Do governance arrangements enable effective oversight and management of the scheme?
The final report on ARPC is expected to be tabled in Parliament in June 2019.
For further information on the ANAO performance audit, terms of reference, or to make a contribution, please read here.