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1. Who pays for the audits and how much do they cost? 3. I am an abatement certificate provider and I need to engage an auditor. What do I need to do? 4. I am a benchmark participant and I need to engage an auditor. What do I need to do? 5. What is the GGAS policy on conflict of interest? 6. I am conducting an audit and something has come up. What do I do? 7. Who submits the Deed Poll to IPART? 8. What happens if I find a discrepancy while I am doing an audit? 9. Who do I submit the draft and final audit reports to? 11. What is the process for changing the personnel details (including fees) on the Panel Agreement?
All audit costs are borne by the Greenhouse Gas Reduction Scheme (GGAS) participant. The cost of the audit depends upon the scope of the audit and the complexity of the material being audited. Generally, a record keeping audit costs between $5,000 and $10,000. When IPART assesses applications to join the panel, the following factors are considered:
Firstly you should contact IPART to confirm you need an audit and get the appropriate audit scope for your project. Then you need to select an auditor. The firms currently approved to undertake audits under each of the GGAS Rules is provided on the Audit Panel Members section of this site. IPART must approve the appointment. Once you have selected an auditor, they must provide the Scheme Administrator with a detailed scope of work containing information on the audit procedures to be carried out. You will also need to complete a deed poll for the auditor to submit with the detailed scope of work to the Scheme Administrator. The Scheme Administrator may request variations to the scope of work within 14 days of receiving it. The audit cannot start until the Scheme Administrator approves the auditor to commence work. Firstly you need to select an auditor from the Panel. The firms currently approved to undertake audits under the Compliance Rule is provided on the Audit Panel Members section of this site. IPART must approve the appointment. Once you have selected an auditor, they must provide the Compliance Regulator with a detailed scope of work containing information on the audit procedures to be carried out. You will also need to complete a deed poll for the auditor to submit with the detailed scope of work to the Compliance Regulator. The Compliance Regulator may request variations to the scope of work within 14 days of receiving it. The audit cannot start until the Compliance Regulator approves the auditor to commence work. Under GGAS, it is crucial that all audits are carried out with sufficient independence and without actual or potential conflicts of interest. The Panel Agreement defines a conflict of interest as “any agreement, arrangement or understanding or any activity which conflicts or is likely to conflict with or affects the panel member’s ability to perform any services undertaken or being undertaken by the panel member under [this] Agreement.” IPART has the discretion to require the Panel member not to enter into any agreement, arrangement or understanding, or participate in any activity which amounts to a conflict of interest. Alternatively, the Panel member may withdraw from providing the audit services. Examples of possible conflicts of interest include:
Panel members must notify IPART as soon as they become aware of a potential conflict. Where a potential conflict arises, the auditor’s primary duty under the Panel Agreement is to IPART. 1. Pre-accreditation audits and audits of certificate creation Call the Scheme Administrator. Do not consult with the certificate provider or allow them to undertake corrective action. This should also be noted in your schedule of audit procedures and findings appended to your audit report. 2. Benchmark Statement audits If you are auditing a Benchmark Statement, the Benchmark participant may undertake corrective action. This should also be noted in your schedule of audit procedures and findings appended to your audit report. The auditor must submit the Deed Poll, signed by the GGAS participant, with their detailed scope of work to IPART. 1. Pre-accreditation audits and audits of certificate creation Call the Scheme Administrator. Do not consult with the certificate provider or allow them to undertake corrective action. This should also be noted in your schedule of audit procedures and findings appended to your audit report. 2. Benchmark Statement audits If you are auditing a Benchmark Statement, the Benchmark participant may undertake corrective action. This should also be noted in your schedule of audit procedures and findings appended to your audit report. 1. Benchmark Statement audits The draft report goes to the benchmark participant. The Compliance Regulator only needs to see the final report. 2. Pre-accreditation audits and audits of certificate creation The draft report goes to the Scheme Administrator, initially for comment. Once any issues are resolved, it goes to the abatement certificate provider. After this time, the auditor may issue the final report to the abatement certificate provider and IPART concurrently. Call IPART immediately. You will be asked to follow the Australian Auditing Standard 706 to rectify the situation. In summary, this will involve: When the auditor becomes aware of facts that materially affect the audit report, it will:
If the report requires revision, the auditor will
Panel members may update personnel and rates in the Panel Agreement by writing to the Scheme Administrator and requesting changes to Schedule 1 and/or Schedule 4 of the Panel Agreement. This request should be a letter, with the original signed by a lead auditor, outlining the new rates and/or attaching the CVs of any additional personnel. All additional personnel will need to undertake training at the first available opportunity.
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