An independent review released today into the corporate governance of ACTEW has found 40 opportunities for improvement, said ACT Shadow Treasurer Brendan Smyth. The review follows the under-reporting of managing director Mark Sullivan’s salary by $240,000 earlier this year.
“The fact that this review has uncovered 40 opportunities where ACTEW governance can be improved is extraordinary,” Mr Smyth said today.
“The areas for improvement go right to basic management such as ‘ACTEW can utilise standardised templates that require expense requests to be accompanied by documented justification and clear coding of expenditure.’ (Page 14)
“The government now needs to admit that this review has created more questions than it has answered, and the time is now to begin a full performance audit by the Auditor-General.
“Only an independent audit conducted by the Auditor-General can get to the bottom of the issues at ACTEW, from the release of the review today to the Cotter Dam cost blowout, a possible $100 million black hole in the Budget, concerns raised in the recent ICRC draft report and executive remuneration.
“It is now up to ACTEW’s two shareholders Katy Gallagher and Andrew Barr to ask the Auditor-General to conduct an independent performance audit of ACTEW,” Mr Smyth concluded.