The establishment of a corporation in charge of the Albanese government’s $15 billion manufacturing fund is being audited, with an outside firm quietly tapped to assist the federal audit office with a 10-month examination.
The probe follows frustration with the protracted establishment of the National Reconstruction Fund Corporation (NRFC), which was set up a year ago to be the government’s new independent financier of transformational manufacturing projects.
The NRFC is yet to make any investment announcements but the Australian National Audit Office (ANAO) wants to examine its design and governance, as well as arrangements for the $15 billion fund it controls.
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