Privatisation: an audit framework for the future
Overview
The success of privatisation will be influenced by the soundness of the management practices implemented by the Government and the quality of regulatory regimes applied to the operation of privatised industries in the future. As a precursor for an ongoing program of detailed privatisation audits, the Parliament and the Executive Government should initially be provided with independent comment as to the broad high-level procedures that the public would expect to be applied in managing the privatisation of Government Business Enterprises. The disclosure by the Government of the practices employed to address key issues associated with major initiatives that involve immense change, such as privatisation, is an important feature of responsible economic management of the State. In terms of promoting sound management practices in relation to privatisation, this preliminary review will be useful in stimulating debate and providing additional information in relation to the Government's privatisation program.