Request for Proposal Internal Audit Service
Tender ID: 604840
Tender Details
Tender Description
About Us
The Indigenous Land and Sea Corporation (ILSC) is a corporate Commonwealth entity established in 1995 under the Aboriginal and Torres Strait Islander Act 2005 (ATSI Act). The ILSC’s purpose is to assist Indigenous people to acquire and manage land and water(s) to achieve economic, environmental, social, and cultural benefits.
The ILSC’s long-term vision for meeting its ATSI Act mandate is for Aboriginal and Torres Strait Islander people to enjoy the rightful entitlements, opportunities and benefits that the return of country and its management brings.
The ILSC’s primary strategic approach and priorities for how it meets its legislative mandate through to 2028 are included in the ILSC’s National Indigenous Land and Sea Strategy (NILSS). More information about the ILSC is available from www.ilsc.gov.au
Overview:
The ILSC is seeking a suitably qualified and experienced provider for the provision of internal audit services in a manner that generally conforms to the Global Internal Audit Standards. The period of services is for an initial three-year engagement, commencing 1 July 2026 with an option to extend up to two-years. The internal audit service provider is expected to be capable of delivering high quality, independent and objective assurance to enhance ILSC’s governance, risk management, and internal control frameworks in alignment with public sector standards and legislative obligations.
Scope of Services:
As part of our commitment to maintaining a strong governance and assurance framework, ILSC is seeking proposals for Internal Audit services. To support our assessment of the most suitable delivery model, respondents are requested to submit two proposals:
Option 1: A full outsourcing model in which the service provider delivers the Internal Audit function end -to-end.
The respondent will assume full responsibility for the delivery of the Internal Audit function. This includes the development of the annual Internal Audit Plan, execution of all audit engagements, reporting of findings, and provision of periodic updates to management and the Audit & Risk Committee. The service provider will operate as the organisation’s Internal Audit function, supplying all required resources, subject-matter expertise, methodologies, and tools.
Key Expectations:
- Prepare a comprehensive, risk-based Internal Audit Plan aligned with organisational priorities for the consideration of the ILSC Executive and Audit & Risk Committee.
- Provide qualified audit professionals with appropriate technical and industry expertise.
- Conduct all internal audit activities in accordance with the Global Internal Audit Standards.
- Maintain independence and objectivity in all audit work.
- Provide clear, timely reporting and insights to support continuous improvement.
- Offer access to specialist skills (e.g., IT audit, cybersecurity, data analytics) as required.
Service Delivery Model:
The respondent will be expected to manage the Internal Audit function end-to-end, including planning, fieldwork and reporting.
The ILSC will retain oversight through the Audit & Risk Committee and management liaison but will not maintain an in -house internal audit team. Internal audit action tracking and follow up will be undertaken by the ILSC’s internal Risk & Assurance Team.
Option 2: A co-sourcing or hybrid model designed to supplement and enhance our internal capability.
The respondent will work collaboratively with the organisation’s internal resources to deliver the Internal Audit Plan. This hybrid model is intended to supplement existing capability, provide specialist expertise, and enhance the flexibility and scalability of the Internal Audit function.
Key Expectations:
- Partner with internal staff to jointly develop and deliver the annual Internal Audit Plan.
- Provide specialist skills and additional capacity to support specific audit engagements.
- Share methodologies, tools, and leading practices to uplift internal capability.
- Maintain independence and objectivity in all work performed.
- Support knowledge transfer to strengthen the organisation’s internal audit maturity.
Service Delivery Model:
Under this arrangement, the ILSC will retain an internal audit presence (within the Risk & Assurance Team), while the service provider contributes resources on an as-needed basis. The model should allow for seamless integration between internal and external resources, with clear delineation of roles, responsibilities, and reporting lines.
These proposals will assist us in determining the optimal structure for achieving audit quality, independence, and operational flexibility.
The successful provider may be required to deliver services including, but not limited to:
- Risk-based internal audits across operational and compliance areas
- Evaluation of internal controls and assurance processes
- Review of procurement, contract management and grant administration
- Advisory services on governance and performance reporting
- Preparation of audit plans, audit reports and recommendation for the executive team and Audit and Risk Committee
- Support for compliance with relevant legislation, including the Public Governance, Performance and Accountability Act (PGPA Act) and Aboriginal and Torres Strait Islander Act (ATSI Act).
If your organisation is successful, then you will be required to complete supplier onboarding via a third-party on-line portal called EFTSure. Key supplier information is collected, and relevant documents attached e.g. insurance certificates. EFTSure staff will contact you via telephone to verify details.
Please refer to the attached Terms of Reference when responding to this request.
Closing Date: Please forward your proposal to Elma Lozada by COB Monday, 16 February 2026. Should you have any questions or require additional information, please do not hesitate to contact myself.
Yours sincerely
Elma Lozada
Manager, Risk and Assurance
P: 08 8100-7131 | M: 0422-623-964 | E: elma.lozada@ilsc.gov.au
Location
New South Wales : Central West : Far North Coast : Far West : Hunter : Illawarra : Mid North Coast : Murray : New England : Orana : Riverina : Southern Highlands : Sydney
Queensland : Cairns & Far North Queensland : Gladstone : Mackay Whitsunday Region : Mount Isa & North West Region : Rockhampton : South East Queensland : South West & Darling Downs : The Central West : Townsville : Wide Bay Burnett
Victoria : Barwon South West : Gippsland : Grampians : Hume : Loddon Mallee : Melbourne
South Australia : Adelaide : Eyre & Western : Far North : Fleurieu & Kangaroo Island : Limestone Coast : Murray & Mallee : York & Mid North
Northern Territory : Barkly : Big Rivers : Central Australia : East Arnhem : Greater Darwin : Top End
Australian Capital Territory
Tasmania