A review of the federal government’s PsiQuantum investment has cleared the $940 million deal but exposed concerns about a market testing process that critics argue was reverse engineered to benefit the Silicon Valley startup.
The 19-page post-implementation review, released on Friday, found the government’s approach and process to be “appropriate”, including its due diligence, governance and probity.
Led by audit and risk advisory firm McGrathNicol, the review was commissioned last October, with the findings to be used for an internal report on lesson learned, as InnovationAus.com revealed.
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