The Department and Energy, Environment and Climate Action (DEECA) has released its Audit of Water Intermediaries report for 2023–24 and 2024–25. Intermediaries have also received their individual audit reports.

The Victorian Government is committed to transparency for water market participants. Actively overseeing water market operations ensures their ongoing effectiveness. The release of this audit report underscores that 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 intermediaries’ compliance of their responsibilities to their clients.

DEECA engaged independent auditor Scyne Advisory to undertake the combined 2023–24 and 2024–25 audit. The results provide DEECA and Register users with assurance that, across the board, the majority of intermediaries are acting in compliance with the terms of the Broker Portal Agreement and related instruments. Where non-compliance was detected, no instance of inappropriate access to customer information or improper trade activity was identified.

The audit resulted in the following outcomes:

• Non-compliance findings requiring corrective action were identified for four water market intermediary firms.
• Eighteen water market intermediary firms demonstrated compliance with audit requirements, with no further action required.
• Two water market intermediary firms ceased using the Broker Portal during the audit period.

The joint 2023–24 and 2024–25 audit summary report is available below and presents the key findings of the audit.

 2023–24 and 2024–25 Audit of Water Intermediaries (PDF, 752 kb)