Internal Audit Services (WorkSafe and TAC)

⁠⁠⁠The Victorian WorkCover Authority (WorkSafe) and the Transport Accident Commission (TAC) are inviting responses to this joint Request for Tender (RFT) for the provision of their respective internal audit functions. 

Due to the existence of IT Shared Solutions (ITSS) between the organisations, WorkSafe and the TAC express a preference for appointing the same supplier. However, WorkSafe and TAC reserve the right to each appoint a separate supplier.

WorkSafe and TAC will remain free to decide to acquire, or not to acquire, internal audit services at the conclusion of the joint procurement process from either the recommended supplier or any other supplier. WorkSafe and TAC intend to execute separate agreements.

The primary purpose of the Service is to provide an independent and objective assurance function designed to add value and improve operations. It helps WorkSafe accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.

Internal audit is a function to assist the Board and management of the organisations to achieve sound managerial review and control over activities to ensure that these activities can be carried out effectively and efficiently. The function provides the Board and senior management with: appraisals of operations and activities;

independent and confidential advice on remedial action to improve effectiveness, efficiency and economy in the use of resources; and

progress reports regarding remedial action taken by management.

The Service Agreement will include a transition term, a 5-year initial contract term, plus a two-year optional extension period. The transition period is expected to commence in August 2023 and the 5-year initial term will commence on 1 October 2023.