Risk & Assurance

Robust and proven risk management and assurance services specifically tailored to small and medium Government organisations

An effective assurance framework enables well-run organisations to identify and manage risks, make informed decisions, improve their internal systems and processes, and ultimately enhance their service delivery options.

One of Centium’s key differentiators is our approach to risk and assurance projects, including routine and complex reviews. We use proven methodologies and always consider our client’s context, geographic and regional issues, operating model, objectives and challenges.

Centium offers an independent perspective of governance, risk and compliance systems to ensure that they are achieving their objectives.  Importantly, we create strong partnerships with our clients to build capacity, improve organisational resilience and facilitate management ownership of outcomes. 

We deliver risk management and assurance services across a range of operating models, including as in-house contractors, outsourced providers, co-sourced partners, and trusted advisors.  We are pleased to work with our clients in a manner that best suits their business needs.


Internal Audit

Centium partners with our clients to undertake internal audits that provide independent, objective assurance to improve organisational operations and outcomes. We do this by identifying and evaluating risks, controls, governance processes and opportunities for improvement.Our team members are experienced, professionally qualified and comply with the IIA’s International Professional Practices Framework and relevant sector requirements.

How we can help:

  • Strategic and operational internal audit planning
  • Compliance audits and performance reviews
  • Strategic and risk-based internal audits
  • Review client delegation hierarchies, policies and procedures 
  • Data analytics and root cause analyses
  • Audit universe and assurance mapping
  • IA resource placements and secondments
  • Industry specific audits (e.g. Local Government; Health and Universities)
  • Ethical culture audits

Risk Management

Risk management is frequently perceived as a defensive discipline – at Centium, we see risk management as a positive force that benefits all organisations. Properly executed and integrated into strategic and operational planning models, risk management can be used to prevent or mitigate negative events. Risk management is also important in enabling organisations to take better advantage of positive events and opportunities for growth. 

Our service offerings in this area include:

  • Development of risk management frameworks
  • Enterprise / business unit risk registers
  • Facilitation of risk appetite workshops
  • Peer review of existing risk artefacts
  • Risk maturity assessments
  • Assurance mapping
  • Organisational culture health checks
  • Risk management training

Fraud & Corruption Management

Using experience gained from 30 years of working with Government organisations, Centium has developed a full suite of offerings for the identification, management and control of fraud and corruption risks that we can tailor to suit your unique circumstances.

Our multi-disciplinary team of fraud and corruption prevention specialists includes Certified Fraud Examiners, a former Deputy NSW Ombudsman, senior ICAC managers, experienced internal auditors and investigators.

As a first step, we offer our clients a value for money assessment of the arrangements they already have in place to manage their fraud and corruption risks.  This is done using our proprietary Fraud and Corruption Evaluation Tool (FACET), which incorporates elements of relevant Standards, sector-based policies and procedures, and Audit Office and corruption prevention agencies.   Using FACET, we are also able to assess the suitability and maturity of an organisation’s approach to managing its fraud and corruption risks.

Ways we can help:

  • Evaluation of fraud and corruption prevention activities
  • Tailored fraud and corruption risk assessment
  • Development or refinement of a fraud risk register
  • Validation of existing controls against Centium’s comprehensive Fraud Risk Universe
  • Stress testing high fraud risks and operational areas
  • Fraud and corruption prevention audits (combining diagnostic, validation and/or stress testing)
  • Ethical culture audits
  • Fraud and corruption control plans
  • Fraud prevention awareness training and eLearning
  • Policies, procedures and artefacts
  • Fact findings or investigations

Business Continuity & Organisational Resilience

Sustainable businesses need to anticipate and adapt to continuous change. This entails preparing for and being well placed to quickly recover from present and possible threats and disruption.

How we can help:

  • Identifying critical business operations
  • Business continuity and resilience frameworks
  • Emergency management
  • Disaster recovery planning  and scenario testing
  • Asset management and protection
  • Evaluation and performance monitoring
  • Informing and upskilling your workforce

Energy Retailer Compliance Audits

We assist energy retailers with a range of compliance audits to meet their annual regulatory and policy obligations, thereby assisting them to maintain their retailer authorisation. We provide independent assurance that retailers have the systems, processes and evidence in place to administer and deliver services, including social programs, rebates and hardship initiatives. Our partnership approach facilitates improvement in governance and risk management, as well as service efficiencies.

How we can help:

  • NSW Social Programs for Energy Code audits – this audit provides independent assurance that retailers are managing energy rebates and energy account payment assistance (EAPA) vouchers. We are approved on the NSW Government SCM005 Performance and Management Services Scheme to undertake these audits.
  • Hardship Compliance Audit – this is an audit of hardship requirements as specified by Retail Law, the National Regulations and applicable Rules, having regard for the retailer’s obligations under Australia Energy Regulator (AER) Compliance and Guidelines.

Acquittals & Attestations

We provide independent audit opinions on a range of financial and non-financial matters as required by funding agencies, regulators and other government agencies.  We provide assurance that our clients have the systems, processes and evidence in place to satisfy external reporting requirements.  On this basis, we prepare acquittals and attestations, and where appropriate, provide high-level advice regarding improvements to controls.

How we can help:

  • Grants and other expenditure acquittals
  • Reviews of fiduciary controls
  • Drives & VicRoads audits
  • Privacy & CCTV audits
  • Compliance audits
  • Data analytics

Health, Safety & Environment

Centium has a highly skilled team of certified professional staff, including registered Lead Auditors, EPA Accredited Auditors, Environmental Scientists and WHS specialists. We have assisted organisations across all sectors to help assess and improve WHS and environmental capabilities.

Our service offerings include:

  • WHS reviews and assessments
  • Environmental reviews and assessments
  • WHS communication and training programs
  • Waste management plans and strategies
  • WHS policies, procedures and Safe Work Methods Statements (SWMS)
  • Asbestos management plans and reviews
  • ISO 14001 management systems and audits
  • ISO 45001 management systems and audits

Our Clients