Broadleaf recently carried out a risk assessment of a concessional loan offered by the Commonwealth Government to support a project being undertaken by an Australian State. The risk assessment examined the administration and financial performance of the loan in the context of the project plans. It confirmed the existing controls were well designed and reasonable in the circumstances. The extended risk assessment process that we used also helped to establish priorities for assurance that the controls would remain effective during the administration of the loan.
In addition to the tangible benefits of the analysis, the process brought together personnel from the Commonwealth agency administering the loan with State-based personnel concerned with the project that it will support, legal, commercial and technical advisors and subject matter experts. They were able to develop a valuable shared understanding of the relationships between the project, its funding and the Commonwealth-State loan agreement, now and into the future.