Reserve Bank of Australia tenders for audit management tool

The Reserve Bank of Australia has issued a competitive tender process for an audit management tool (AMT) to support its internal review operations.

Successful respondents are expected to deliver an AMT that aligns with the RBA Audit Department's core requirements.

Solutions must support the enhancement of end-to-end engagement processes and related examination activities, and facilitate compliance with Global Internal Audit Standards (GIAS).

In the tender, RBA proposes an initial contract term of three years, with potential for two additional one-year extensions totalling two years, subject to performance review.

Vendors must hold certification in either ISO/IEC 27001, SOC2 Type 2, or Information Security Registered Assessors Program (IRAP) standards.

Respondents are required to participate in the vendor controls assessment conducted by the bank when required.

Chosen respondents will be responsible for ensuring the ongoing performance, reliability, and usability of the management tool, with performance monitoring to focus on implementation requirements.

This includes providing training and technical support during deployment.

Respondents must also engage with the Audit Department on a regular basis to identify areas for optimisation, training needs or future enhancements.

Vendors are expected to establish a primary point of contact to manage and oversee the relationship with the bank.

Officials anticipate such a role will be filled by a senior manager or higher.

Closing date for the tender is July 28, at 2 pm ACT time, with contract execution in mid-October this year.