Export Finance Australia engages an independent environmental and social expert to audit the application of its Policy and Procedure for environmental and social review of transactions every two years.
Export Finance Australia has commissioned three audits, in 2012, 2014 and 2016. Results of the audits are provided below.
Ernst & Young (EY) undertook the third independent audit of the Policy and Procedure. This was completed at the end of September 2016.
A copy of the EY audit report can be found here.
The audit conclusion is:
In our opinion, the environmental and social review of transactions and, where relevant, their associated projects completed by Export Finance Australia, between 21st July 2014 and 30th June 2016, was properly completed, in all material respects, in accordance with the requirements of the Export Finance Australia Policy for environmental and social review of transactions and the Export Finance Australia Procedure for environmental and social review of transactions.
The audit report provided three recommendations to further improve Export Finance Australia’s internal processes. In response, we will amend our processes to reflect those recommendations.
Copies of the previous audits are provided below: