3.1 Framework outline
The IIAF incorporates a risk-based approach to infrastructure investment assurance and is in line with recommendations made by the Auditor General in the performance audit report entitled Audit Large construction projects: Independent assurance (May 2015)24.
Assurance arrangements for the state's infrastructure program support the Premier, the Treasurer, the Minister for Infrastructure, and Cabinet in ensuring that this program is delivered effectively. The IIAF is designed to support both the delivery agencies' own decision-making and assurance processes and to support Budget processes throughout the project lifecycle (depicted in Figure 3).
Figure 3 Project Lifecycle Assurance 25
A key component of the IIAF has been the establishment of the Infrastructure Investor Assurance Committee (IIAC), convened, chaired and managed by Infrastructure NSW. The IIAC comprises the Secretaries of the Department of Premier and Cabinet, NSW Treasury, Transport for NSW, NSW Health and Department of Planning and Environment.
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25 Not all Gateway Reviews and Health Checks are required for all projects as indicated in Figure 1, refer to Section 3.3.1