Audit and Assurance Services for Student Loan Monetisation Programme by Hogon Lovells International LLP

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DEPARTMENT FOR EDUCATION awarded a contract to Hogon Lovells International LLP for audit and assurance services related to the Income Contingent Repayment Student Loan Monetisation Programme.

The contract covers three work streams: an ongoing annual audit of the complex financial model used to forecast student loan cashflows, an additional audit each time a new sale transaction launch is planned (with current assumptions of one transaction per year over the next 4-5 years), audit of the underlying loan pool data each time a new transaction is planned, and audit of the transaction prospectus including a tick and tie of numbers from the model and loan pool with relevant values in the transaction prospectus each time a new transaction is planned.

The contract value is AUD 350,000.