The Treasury

Type:
NSW Treasury Circular
Identifier:
TC17-11
Status:
Archived

TC17-11 Recurrent Investor Assurance Framework (RIAF)

Description

The Recurrent Investor Assurance Framework (TPP17-02) RIAF applies to all General Government agencies and Government businesses. These agencies are required to comply with the requirements of the RIAF with effect from the date of this circular.

 

Function and Subject

Financial Management and Accounting (1)
Financial Management Framework

Detailed Outline

This Circular advises the sector that the Recurrent Investor Assurance Framework TPP 17-02 (RIAF) is now operational.

Agencies whose recurrent investment proposals meet the thresholds set out in the framework are responsible to register and self-assess the project risk profile using the Project Registration and Risk Assessment Tool available on the Treasury website.

The Risk Tier and appropriate assurance plan will be reviewed and endorsed by the Major Recurrent Advisory Group, (consisting of senior executives from across the sector). Treasury will then coordinate with agencies to arrange Gateway Reviews and Health Checks as required.

These processes are similar to those being followed for capital and ICT investments.

Treasury will be working with agencies to implement the RIAF, including agreeing transitional arrangements on a case by case basis.

The RIAF is applicable to general Government Agencies and Government businesses. The RIAF is only applicable to State Owned Corporations to the extent set out in the Commercial Policy Framework, specifically the revised Major Projects Policy (on which SOCs have recently been consulted).

 

Overview

Who needs to know and/or comply with this?

Departments
Executive agencies related to Departments
Separate agencies
State Owned Corporations
Statutory Authorities/Bodies

AR Details

Date Issued
Nov 9, 2017
Review Date
Nov 9, 2019
Replaces
Replaced By

Contacts

Contact
Gateway@treasury.nsw.gov.au
Phone
(02) 9228 4207
Publishing Entity
The Treasury
Issuing Entity
The Treasury