The federal government has announced that the Modernising Business Register program will be independently reviewed after Treasury estimated it would cost $1 billion more than originally budgeted for under the previous government.
The Modernising Business Register project will see more than 30 ASIC business registers consolidated into a single platform known as the Australian Business Registry Services.
Minister for Financial Services Stephen Jones said the government is “prioritising completion of this critical program, transparently and responsibly”.
Furthermore, the review will “deliver a comprehensive understanding of the current state of the program and provide recommendations for changes, improvements and strategies to best position it to achieve its intended objectives”.
According to the terms of reference, the review will provide a comprehensive understanding of the current state of the program by:
- Assessing the expenditure to date, including drivers contributing to cost increases
- Measuring what has been delivered, and remains to be delivered, to achieve the objectives of the program
- Identifying key aspects that present significant risks, including to the successful delivery of the program’s objectives, cost and delivery schedule
- Validating current estimated costs and underlying assumptions
- Evaluating governance and management practices
The federal government will then consider recommendations on how to best position the program to achieve its intended objectives, including:
- Improvements or changes to information technology solutions
- Improvements or alternative approaches to design and delivery that will reduce cost, accelerate delivery and/or improve governance and management of the program
- Strategies to mitigate significant risks to the successful delivery of the program’s objectives, cost and delivery schedule
Adam Zuchowski is a disputes lawyer and principal at Sutton Laurence King Lawyers
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