The Victorian Government is committed to transparency for water market participants and actively overseeing water market operations to ensure their ongoing effectiveness. The release of the 2022–23 annual brokers audit underscores this commitment.

This audit provides oversight of compliance with government rules for using the Victorian Water Register's online Broker Portal and API. The audit also checks the brokers' compliance of their responsibilities to their clients.

The Department of Environment, Energy, and Climate Action engaged independent auditor RSM for the 2022–23 annual audit. RSM audited all 26 intermediary firms that used the Broker Portal or API during 2022–23 to determine how they complied with the Victorian Water Register online Broker Portal use agreement and rules.

The independent audit confirms the continuing trend of overall improvement in compliance year-on-year. Based on the final outcomes, the Department has:

• issued warning notifications to two intermediary firms
• issued notifications for two intermediary firms, which included advice on improvements that could be implemented
• sent letters to 20 water market intermediary firms to formally close the audits, noting satisfactory performance
• terminated Broker Portal access to 2 water market intermediary firms during the year outside of the audit process.

The 2022–23 audit summary report is available below and presents the key findings of the audit.

 PDF: Public Summary – Victorian Water Intermediary Audit Report 2022–23 (660 kb)