Australian National Audit Office Reports Overall Education Investment Fund Well-Managed. (May 24, 2013)

Despite some shortcomings the Australian National Audit Office has found that the Education Investment Fund (EIF) has been well managed by the federal government super Department of Industry, Innovation, Climate Change, Science, Research and Tertiary Education (DIICCSRTE).

The ANAO in its report published yesterday states: "The administration of the second and third EIF funding rounds ... has been in the main satisfactory."

It did, however, qualify its approval noting that: "...there were also some shortcomings in administration [relating] to the maintenance of complete records of the EIF advisory board's assessments, the extent of advice provided to ministers and the provision of financial approvals." As a result at least one of three projects which were assessed as deserving funding was overlooked.

The two specific recommendations by the ANAO (see below) to DIICCSRTE have both been accepted: