Targeted reviews and audits raise provider awareness of financial prudential responsibilities. This process helps us identify opportunities to educate and support providers.
We do 2 types of audits:
- home care pricing audits
- prudential audits.
Home care pricing audits
Home care pricing audits assesses home care providers’ understanding of pricing requirements. This helps you to meet your home care pricing responsibilities.
Prices must be fair and transparent. Your consumers need to know they are getting quality care and services at market prices. You can find more information on pricing on the Pricing for Home Care Packages page.
For more information on home care pricing audits read the Home care pricing audit factsheet.
Prudential audits assess residential aged care providers’ understanding of their prudential obligations. They inform us of provider’s refundable deposit practices, policies, and procedures which are assessed against the Prudential Standards.
You can find more information on prudential audits in our Prudential audit factsheet.
Targeted reviews focus on a specific issue, or a particular group of providers. They help us to assess the aged care sector’s understanding of financial and prudential obligations as a whole.
Targeted reviews also provide an opportunity to educate and support providers. Where we find that a provider is not complying with their obligations, we work with them to fix it.
When we finish a review, we produce an Insights report. Each Insight report shares our findings, including common mistakes and things providers need to consider.
Past targeted reviews have focused on:
- refunding obligations and the Liquidity Standard
- Prudential targeted review: Local Government Authorities
- Prudential targeted review: Investment management strategy.
If you have any questions about these programs, you can email us at firstname.lastname@example.org.