VPRS 11073 Victorian Economic Development Corporation Loans Review Files [Records Not Transferred]

The series was created by the Victorian Auditor-General's Office (VA 1031) during the period 1986 to 1989 in relation to the audit review of the Victorian Economic Development Corporation (VEDC).Due to the VEDC's deficiencies the Auditor-General constituted a special review of the Corporation's management control systems and guidelines for loan and equity investments.The provision of loan and equity funds to Victorian companies to stimulate economic activity was a major function of the VEDC until the transfer of the assets and liabilities to the Rural Finance Corporation in December 1988, when the VEDC management and investments procedures were found inadequate and ineffective and the corporation insolvent.This series documents the process of audit review conducted on the VEDC's investments (Loans, Equity).The series consists of:* Index of Loan Review Files* Summary of Issues (Loans)* Press Reviews* Analyses of Company's Loans* Working Papers for Case / Loan Studies* Report of the Auditor-General* Loan Review Face Sheets* Financial Statements* General Correspondence* Newspaper Cuttings