The government has created a model with ‘significant uncertainty’ around its future financial position, report says
The auditor general found the total cost of consultants fees related to Transport Asset Holding Entity, or Tahe, was $22.6m – almost double the initial estimate.The auditor general found the total cost of consultants fees related to Transport Asset Holding Entity, or Tahe, was $22.6m – almost double the initial estimate.Last modified on Tue 24 Jan 2023 09.12 GMT
Tahe was established in 2020 after seven years of planning to transfer the state’s $40bn rail assets out of the hands of the transport department and into a state-owned corporation. But under accounting rules, the corporation needed to show it was separate from the government and would turn a profit.Crawford found the “ineffective” design process had created a model with “significant uncertainty” regarding its future financial position.
A handful of agencies had been used repeatedly to provide advice on the same topic, she found, which brought the total cost of Tahe-related consultants’ fees to $22.6m – almost double the initial estimate.
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